Asked: What is a Layer 2 network?
My answer: Arbitrum and Optimism are both Optimistic Rollups, while ZKsync and Starknet are ZK Rollups. Layer 2s are cheap because they bundle large numbers of transactions and submit them to the mainnet together, with the mainnet costs shared among those transactions.
$ARB 0.1795(-10.16%)
What do you think? Feel free to discuss in the comments.