Crypto

Ethereum Layer-2 Teams Embrace Proposal for Blockchain Overhaul

In the world of blockchain technology, one of the major challenges that Ethereum faces is the issue of finality. According to Farmer, a blockchain expert, the current system requires 12 to 19 minutes for a block to be considered finalized. This delay can lead to a poor user experience, especially when transferring funds between different platforms like Arbitrum and Polygon.

When a transaction is made between these platforms, Polygon cannot safely credit the funds to the user until the transaction has been finalized on the Layer 1 network. This waiting period can frustrate users and hinder the overall experience of using decentralized applications.

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Farmer suggests that by reducing the finality time to just 12 seconds, the user experience can be greatly improved. With faster finality, transactions can be confirmed and processed more quickly, leading to a smoother and more efficient blockchain ecosystem.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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