The post Buterin Shares Crucial Details On Verification Of L2 Transactions appeared first on Coinpedia Fintech News
Vitalik Buterin has shared his view on how verification for transactions on Layer 2 is executed. According to Buterin, Ether L2 inherits L1 security, which means assets on the L2 are safe and can be withdrawn as long as the L1 is secure. He had previously emphasized that both Layer 1 (L1) and Layer 2 (L2) solutions on Ethereum confirm transactions within seconds, with L2 transaction fees being less than $0.01, addressing concerns about high costs. He also pointed to the success of prominent projects within the Ethereum ecosystem, which displayed significant progress and practical utility.