Layer 2 is the future, and here is why

Ethereum fees are high because people are using it? “Layer 2” seems to be the magic word for solving all these problems. But are Layer 2s actually already here yet? Are they able to keep their promise of lowering fees for everybody?

Let’s take a look at Layer 2 today!

What is Layer 2?

Layer 1 is the Ethereum mainnet. If you used Ethereum before, that’s the blockchain that you used.

Layer 2s are a scaling solution. Most current scaling solutions fall into this category. But others you might come across are: Sidechains, state-channels, and actually scaling solutions for layer 1 such as sharding.

Layer 2s, however, are a special kind of scaling solution. They are blockchains that derive security from Layer 1.

Because today most Layer 2 solutions refer to zk-rollups and optimistic rollups, let’s continue with taking a look at those while ignoring Plasma (which has more information here).

Click here to check out Layer2 solutions.

Get started using Layer 2 on imToken

imToken holds the same vision of enabling everyone to have free and equal access to their digital life through blockchain as Layer 2. That’s why it has been deeply committed to the Layer 2 ecosystem. Since the beginning of 2021, new Layer 2 functions have been available in the wallet with multiple leading DApps using different Layer 2 solutions.

You need to first download and install imToken to experience the ecosystem. Here is the download link: https://token.im

Get started using Layer 2 on imToken

zkSync is a Layer 2 scaling solution for Ethereum based on zkRollup. It is designed to support efficient payment with low costs in the network where users’ asset security can be protected by zero-knowledge proof and on-chain data availability.

>   To enable your zkSync wallet, open imToken and click “My Profile” at the right bottom corner,             and click “Explore”.

>   Click “Deposit” to enter the deposit page, then deposit the assets in your Ethereum mainnet             address into the zkSync network. After receiving the deposited assets, you can enjoy efficient         and low-cost payment in it.

Step-by-step tutorial: How to use the zkSync wallet on imToken?

How to Use imToken’s Custom Network Function? 

The custom network function of imToken allows you to rapidly switch between different Layer 2 networks, including Arbitrum, Optimism, and Polygon.

At the same time, features such as the automated token discovery and the display of prices and assets in DeFi protocols in the Layer 2 network are accessible in the wallet. With these features, Layer 2 users can better manage their assets.