What is a Layer 2 network?
A Layer 2 network is a scaling network built on top of the Ethereum mainnet. It processes transactions on Layer 2, then submits the results to the mainnet. In March 2024, Ethereum’s Dencun upgrade introduced blob data (EIP-4844), making it much cheaper for Layer 2 networks to write data to the mainnet.
Layer 2 transactions are cheaper because many transactions are compressed and submitted to the mainnet together, so the mainnet costs are shared among them.
$ARB is the governance token of the Layer 2 network Arbitrum.
A Layer 2 network is a scaling network built on top of the Ethereum mainnet. It processes transactions on Layer 2, then submits the results to the mainnet. In March 2024, Ethereum’s Dencun upgrade introduced blob data (EIP-4844), making it much cheaper for Layer 2 networks to write data to the mainnet.
Layer 2 transactions are cheaper because many transactions are compressed and submitted to the mainnet together, so the mainnet costs are shared among them.
$ARB is the governance token of the Layer 2 network Arbitrum.