Monaghan KrauseNov 24, 2021 · 3 years ago3 answersHow does layer-2 scaling technology impact the scalability of decentralized finance (DeFi) platforms in the cryptocurrency space?
Can you explain how layer-2 scaling technology affects the scalability of decentralized finance (DeFi) platforms in the cryptocurrency space? What are the advantages and disadvantages of implementing layer-2 scaling solutions for DeFi platforms? How does layer-2 scaling technology improve transaction speed and reduce fees in DeFi? How does it impact the security and decentralization of DeFi platforms? How do layer-2 solutions like Plasma, Rollups, and State Channels work in the context of DeFi? How do they interact with the underlying blockchain? How do DeFi platforms benefit from layer-2 scaling technology?
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