When it comes to NFTs there’s no better blockchain than Ethereum in terms of adoption and contributors. Solana is one of the greatest competitors network towards Ethereum despite of its protocol comes with an energy effiecient. But, Ethereum still remains the King with the advancement of its alternate chain.
Why do these alternate chain exist to support the Ethereum? It’s simple. This alternate chain also known as layer-2 exist in order to scale Ethereum in adopting more transactions with lower gas fees. Ethereum network fees increase drastically on early 2021 due to several factors that made an even of 1 single transaction would posibbly cost you around 100$ approximately and it is fluctuating based on gas weight you use on that transaction.
What role does Layer 2 play?
Layer 2 refers to a group of solutions that handle scalability difficulties. They process transactions off-chain, resulting in faster transaction times and lower transaction fees. They do, however, benefit from the robust decentralised security afforded by the blockchain because they’re constructed on top of the Ethereum Mainnet (Layer 1).
The following is how it works:
1. Transactions are executed on Layer 2 (off-chain).
2. The Ethereum Mainnet stores the data and proof of transactions.
3. The data on the Mainnet can then be utilised to enforce accurate Layer 2 transactions.
Hepton — Layer 2 solution for network scalibility on Ethereum
Hepton is a layer 2 protocol for trading Ethereum NFTs that supports both ERC-721 and ERC-20 tokens and its not just only limited to NFTs but Ethereum ecosystem as a whole including all types of smart contract. For NFTs, the goal is to make minting and trading NFTs easier than trading traditional digital assets, by offering instant trades, lower gas fees, massive scalability, and energy-efficient minting and trading.
Why is Layer 2 Needed for NFTs?
Layer 2 solutions like Hepton fix many of the problems currently associated with trading Ethereum NFTs. Minting and trading NFTs on Ethereum are cheaper via Layer 2, while still having the same high security as the Ethereum Mainnet. Additionally, some use-cases such as decentralized games with NFTs as in-game assets need fast transactions for the game to operate smoothly — with current transaction speed on Ethereum, this isn’t quite feasible. Layer 2 solutions will therefore expand the possibilities of what can be achieved on the Ethereum network, turning the so-called Ethereum killers into mere contenders.
Twitter: https://twitter.com/0xHepton
