Ethereum update: Ethereum Co-Founder Vitalik Buterin: Layer 2 Solutions like Lightning Network Will Take Up More Share of Innovation Over Time – coinness.com
According to Ethereum’s co-founder Vitalik Buterin,”…as blockchains become more and more mature”, layer 1 solutions built into the layer of the blockchain itself, such as the activation of Segregated Witness on the Bitcoin [BTC] blockchain, will “necessarily stabilize”, while layer 2 solutions built on top of the blockchain without changing the rules of the blockchain itself, represented by the Lightning Network, will “take on more and more of the burden of ongoing innovation and change”.
Even as base-layer upgrades need to be conducted and current ones need to develop with forward compatibility in mind, layer 2 will take up “a larger and larger share of the innovation over time”, stated Buterin.
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About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: CoinnessPress
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