Layer 1 vs Layer 2: What South Korea’s Banking Giant is Debating ⚖️
South Korean payment app Toss is planning a blockchain network but they are deciding between a Layer 1 or a Layer 2 solution.
What is the difference? A Layer 1 like $ETH is a standalone network with its own rules and base security. A Layer 2 is built on top of an existing network to process transactions faster and cheaper. Toss is currently waiting for clearer government regulations before making the final call on how they will scale their new digital assets.
If you were launching a massive payment app would you build an independent L1 or a faster L2? 👇
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