What are Layer 2 networks in Ethereum?

Ethereum Layer 2 networks are blockchains that sit on top of the main Ethereum blockchain and allow users to move their transactions off the main Ethereum network onto a separate blockchain network of sorts.

This process is known as “off-chain”, and it comes with a variety of benefits. With Layer 2 networks, users can save on gas fees, as well as enjoy faster transaction speeds. In addition, Layer 2 networks can facilitate scalability and privacy, as it allows developers to better control the transaction data that gets broadcast to the public. All in all, Layer 2 is a solution that can help Ethereum become more efficient, secure, and cost-effective.

Explanation of Layer 2 networks

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