Scalability Challenges for Ethereum Tokens in the Face of Upcoming Update
Scalability challenges have long plagued blockchains, with Bitcoin and Ethereum currently only capable of processing a few dozen transactions per second. During peak use periods, network fees can surge to exorbitant levels, causing concerns for users. To address these bottlenecks, Ethereum has witnessed the emergence of a galaxy of complementary networks called ‘Layer 2s’, which have grown rapidly and become some of the largest blockchains worldwide. These Layer 2s offer tokens that have garnered multibillion-dollar valuations from investors.
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