Guest Post by Itsmyne A Layer-1 blockchain what is it CoinMarketCap Cmccommunity - Crypto HEAD TOPICS

Guest Post by Itsmyne A Layer-1 blockchain what is it CoinMarketCap

10/21/2022 9:30:00 AM

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CMCCommunity Spotlight A Layer-1 blockchain: what is it? itsmyneclub Crypto CoinMarketCap CMC CMCY The fundamental building block of a blockchain is a Layer-1 blockchain. Blockchains at the layer-1 level validate and carry out transactions without assistance from another network and recoup transaction costs using cryptocurrency.Processing rates are only a few transactions per second because the procedure requires a lot of calculation. This issue, also known as the blockchain trilemma, was first identified by Vitalik Buterin, a co-founder of Ethereum. Security: The chain is capable of withstanding an assault from at least 51% of the participating nodes.Numerous solutions to the blockchain trilemma have been put forth since it was first articulated.Modify the consensus processThis approach is safe since it encourages users to contribute to the network, but it also consumes a lot of computational resources and has a limited capacity to scale. This is the rationale behind Ethereum's decision to switch to a Proof of Stake (PoS) architecture in which a validator is selected at random to build new blocks. Read more:
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