Blockchain Layers 1 & 2: Explained Simply
What is Blockchain? Normally, when processing a transaction or signing up for a contract, you will need an intermediary to facilitate the process. For instance, when paying for your groceries using your card, a payment processor like Visa or Mastercard settles the payment if you have enough balance or are within your credit limit. Otherwise, your card is declined. Now, imagine that you could pay the grocer digitally, without Visa or Mastercard. This is possible on the blockchain. Simply, a bl...
Blockchain Layers 1 & 2: Explained Simply
What is Blockchain? Normally, when processing a transaction or signing up for a contract, you will need an intermediary to facilitate the process. For instance, when paying for your groceries using your card, a payment processor like Visa or Mastercard settles the payment if you have enough balance or are within your credit limit. Otherwise, your card is declined. Now, imagine that you could pay the grocer digitally, without Visa or Mastercard. This is possible on the blockchain. Simply, a bl...
