I never understood layer 2s until recently. The issue had to do with the fact that it was confusing development nonsense that I couldn't wrap my head around.
Now, after taking a few days to check into it, I have come to the realization that layer 2 Blockchain is a great way to scale.
Optimism Network ($OP) is a great layer 2 Blockchain that bundles up several transactions, and sends them at the same time.
Each transaction pays a fraction of what would normally be expensive, to help with high gas fees.
For me, this is much like the Bitcoin lightning network that I haven't used yet, but am told that is much cheaper, and can transfer funds quickly.
I think this is a great solution to an ever growing problem when it comes to gas.
I also didn't think that Ethereum moving from PoW, to PoS would do anything for gas fees, and it looks as though I was correct.
Also, Arbitrum, another L2 Blockchain built on top of Ethereum, is said to be one of the better solutions.
I am not sure which is better, but now that POx is moving to the $OP network, we should see our fees next to nothing when doing transactions.
This is always the best option.
With that being said, as recent as just 2 weeks ago, there was a hack connected to the OP network.
On August 18th, Exactly Protocol on the OP network was hacked and around 4,300 Ethereum were stolen.
Let's hope these protocols are patched up and won't cause any issues in the future.
And a big plus, gas fees will be much lower because all transactions each give a small amount to pay for it.
Thanks for reading, and let me know your thoughts on the OP Network in the comments below...👇🏻