Layer 2 is an essential component of blockchain technology. It aids in scaling applications by processing transactions on the Ethereum network while maintaining the same security and decentralization as Layer 1. These upgrades increase transaction speeds and reduce the platform's carbon footprint.
Recently, Ethereum and Shiba Inu announced their layer 2 upgrades, Arbitrum and Shibarium, respectively, actively enhancing the user experience, improving processing speeds, and enabling more reasonable transaction fees.
In addition, Big Eyes Coin (BIG) has reached its presale milestone by raising $33 million. This achievement has brought significant attention to the project and has piqued investor interest in the coin.
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Revolutionizing Ethereum: How Arbitrum is Changing the Game
Arbitrum is the solution that Ethereum has been seeking to address the long-standing transaction fee crisis that has hindered its growth. The blockchain operates on smart contracts, and all network participants who store these contracts on their hardware are rewarded through transaction fees. As the number of users increases, the fees also increase, as more transactions need to be processed.
The Layer 2 upgrade utilizes Optimistic Rollups, which enable multiple transactions to be processed as a single transaction, making the process much more efficient by not requiring the blockchain to confirm each transaction. This method assumes that every transaction in the rollup is valid. Once all batches of transactions are collected and settled on the sidechain, it feeds back onto the Ethereum Ledger.
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Arbitrum marks the first significant step by Ethereum to significantly enhance the user experience by implementing a faster processing methodology and enhancing scalability. By solving the transaction fee crisis, Ethereum can move forward with its mission to become the go-to blockchain platform for developers and users alike.
Shibarium: The Upgrade Rescuing Shiba Inu's Scalability and Efficiency
Shibarium is the Layer 2 solution of Shiba Inu, a blockchain built on the Ethereum Network. The upgrade is aimed at improving scalability and increasing transaction speeds on the host chain. By reducing the system load for Ethereum, Shibarium splits a transaction into the Layer 1 chain of Ethereum and the Layer 2 protocol of Shibarium, which helps decrease network congestion and significantly improves transaction speeds, reducing transaction costs.
In addition, Shibarium allows users to burn coins, limiting the number of coins in circulation and increasing their value. Users who burn coins are expected to receive lower transaction fees as a reward.
Shibarium's upgrade is set to enhance the security of the blockchain and offer users increased transparency through the ability to view and track their transactions. The faster processing speeds also make the system more efficient.
Big Eyes Coin Reaches $33 Million Milestone With Loot Boxes and NFTs
Big Eyes Coin (BIG) is one of the most buzzed-about cryptocurrencies in the market today, and it's on its way to achieving its $50 million presale goal. The coin offers users an unprecedented opportunity to get more than just financial returns from their investments.
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The platform's loot boxes are a popular feature that offers users the chance to win big prizes, ranging from $500 to $1 million BIG, along with a 250% bonus. The loot boxes are available for purchase at prices ranging from $10 to $10,000. Users need to enter the code ‘BULLRUN250’ to unlock their prize after selecting a box.
Big Eyes Coin has also introduced a new feature where users can mint, collect, and trade NFTs, enabling them to earn a significant profit even before the coin's official launch.
In addition to these features, Big Eyes Coin is also environmentally conscious, pledging to donate 5% of its earnings to ocean conservation charities. This is a unique initiative that allows eco-friendly investors to support a worthy cause while making profitable investments.
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Is Layer 2 the Ultimate Upgrade for Blockchain?
The blockchain industry is constantly evolving, and survival requires constant innovation. While blockchains are efficient, they often suffer from high gas and transaction fees, which negatively impact user experience. The Layer 2 upgrade, however, has emerged as a game-changing solution that can enhance blockchain performance and provide better user experiences.
For More On Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
