Why is Layer2 a solution to Ed-tech?
What is Layer2?
Layer 2 blockchain technology is usually mentioned as an “off-chain” solution. Its main purpose is to scale blockchain transaction capacity keeping the decentralization benefits of a distributed protocol intact and undisturbed.
How Does Layer 2 Blockchain Works?
The implementation of layer 2 in blockchain shall help immensely in achieving scalability.
To build an untampered blockchain ecosystem, we’d like a couple of things within the architecture to achieve data security, decentralization, and scalability. Layer 2 blockchain technology systems are has Ethereum as a base layer of security and finality.
How Layer 2 Works With Edtech?
Layer 2 platforms and protocols process data during a way that decreases the burden the bottom layer (root chain) usually bears. By offloading transactions from the most chain onto layer 2 platforms, the blockchain network can handle much higher transaction throughput.
Layer -1 With Edtech: What Does it Lack?
Edtech with blockchain implemented via layer-1 has Ethereum or bitcoin network as base layer faces scaling limitations as compared to layer-2. Such an architecture lags in processing the data. Any transaction happening has a global consensus on the decentralized network. The nodes under such transaction maintain the details of the transaction till its completion. This leads to lag during transaction, hence not suitable for any edtech based dAPP.
What does layer 2 blockchain tech mean for the Edtech Industry moving forward?
Blockchain network is composed of multiple layers. Layer-1 being the root layer followed by layer 2 and even layer-3 in some cases. The layer-1 has an extension by layer-2 through Plasma or state channels followed by DAPPs.
In any edtech platform, the Ethereum blockchain forms the base or root layer. Any platform shall comprise of different network layer residing over main Ethereum chain. On top of the base we’re using Plasma to build sidechains. The top most layer will be shall be the DAPP developed to provide decentralized and secure data.
Implications of Layer-2 for Edtech
In Edtech solutions, Layer 2 helps us create a blockchain system which is usable and can be scaled to the likes of a centralized system which is more secure, robust and untampered with 3rd party involvement.