RATE Group | Vitalik Buterin Talks about the Latest Developments on the Blockchain of Ethereum (ETH) …
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Vitalik Buterin Talks about the Latest Developments on the Blockchain of Ethereum (ETH) …

31 Aug Vitalik Buterin Talks about the Latest Developments on the Blockchain of Ethereum (ETH) …

Posted at 10:43h in Ethereum News by

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The co-founder of Ethereum (ETH) – Vitalik Buterin – recently talked about the dispute on whether development should focus on first- or second-layer functionalities in blockchains. He also talked about the selloffs that come with it and gave his opinion on what he thinks should be done.

First-Layer and Second-Layer Solutions

The co-founder started by explaining what first-layer and second-layer solutions are. He said that first-layer solutions are those solutions that are integrated into the layer of the blockchain itself, while second-layer solutions are built on top of the blockchain without altering the regulations of the blockchain.

An example of a first-layer solution is the activation of Segregated Witness on the blockchain of Bitcoin (BTC). An example of a second-layer solution is the Lightning Network – a payment channels system designed on the blockchain of Bitcoin (BTC).

He added that this difference has mostly been seen in arguments regarding the…

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