Layer-2 Networks Emerge as the Foundation of a More Expansive DeFi Ecosystem  

Quick Summary:

Ethereum’s first-mover advantage has never been overcome and to this day it remains the foundation of the DeFi industry, with more than 50% of the total value locked in blockchain-based protocols.

But Ethereum’s dominance has led to significant challenges for DeFi protocols, as the world’s number one smart contract network has significant limitations in terms of transaction throughput and scalability.

Also like Optimism, Base leverages the security of the Ethereum network to process transactions off-chain, ensuring the safety of user’s funds.

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Article Details

Author / Journalist: Jine Angel

Category: Crypto

Markets: United Arab Emirates

Topics: Blockchain Blockchain News DeFi

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 09:32:14 (1 weeks ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 1608 words

Reading Time: 9 minutes read

Sentences: 66 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23514979

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 32 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 15 hours ago

Coverage Areas: United Arab Emirates

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Publisher ID: #125

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