Second-Layer Solutions
By CoinGecko | Updated on Mar 03, 2020
A set of solutions built on top of a public blockchain to extend its scalability and efficiency, especially for micro-transactions or actions. Examples include: Plasma, TrueBit, Lightning Network, and more.
Related Terms
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Decentralized Applications (dApps)
Applications that run on decentralized peer-to-peer networks such as Ethereum.
Ponzi Scheme
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors.
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
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