For the same transfer, why is it so much cheaper on a Layer 2 network?
My understanding: Layer 2 saves money by bundling a large number of transactions and submitting them to the mainnet together, with the mainnet fees shared among those transactions.
Optimistic Rollups initially assume submitted results are valid and have a challenge period. Withdrawing to the mainnet via the native bridge generally takes around 7 days.
$ARB and $OP are the governance tokens of Arbitrum and Optimism, respectively.
For reference only. Use at your own risk.
My understanding: Layer 2 saves money by bundling a large number of transactions and submitting them to the mainnet together, with the mainnet fees shared among those transactions.
Optimistic Rollups initially assume submitted results are valid and have a challenge period. Withdrawing to the mainnet via the native bridge generally takes around 7 days.
$ARB and $OP are the governance tokens of Arbitrum and Optimism, respectively.
For reference only. Use at your own risk.