Cryptocurrency Q&A
Is arcblock a layer 1?
Is arcblock a layer 1?
Carolina
Fri Jun 21 2024
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5 answers
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Could you please elaborate on whether ArcBlock is considered a Layer 1 solution in the blockchain landscape? Layer 1 solutions are often regarded as the foundational protocols that power the blockchain network itself, handling core functionalities like consensus mechanisms and block validation. Given ArcBlock's positioning as a blockchain-powered software platform for open business networks, I'm curious to know if it falls into this category or if it's rather a Layer 2 or Layer 3 solution, focusing on decentralized applications or other services built on top of existing blockchains. Your insights would be invaluable in clarifying this distinction.
5 answers
Stefano
Sun Jun 23 2024
We are introducing innovative products to cater to the evolving needs of the cryptocurrency ecosystem. One such product is our Payment Kit, which is designed to harness the power of Lightning Network.
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Eleonora
Sun Jun 23 2024
The Payment Kit will provide full support for Lightning, a groundbreaking technology that promises to revolutionize transaction efficiency and scalability. This integration is not limited to Bitcoin (BTC) alone, but extends to all Blockchains.
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Leonardo
Sun Jun 23 2024
ArcBlock's Open Chain Access Protocol (OCAP) serves as the backbone of this initiative. OCAP is a universal Layer 2 solution that enables seamless interoperability between various blockchains.
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Starlight
Sat Jun 22 2024
The integration of Lightning into our Payment Kit and the utilization of OCAP as a universal Layer 2 represents a significant milestone in our pursuit of optimized crypto transactions. This not only benefits BTC, but the entire cryptocurrency landscape.
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GalaxyWhisper
Sat Jun 22 2024
BTCC, a UK-based cryptocurrency exchange, is also leveraging this technology. Its comprehensive services, which include spot trading, futures, and wallet solutions, are now poised to benefit from the enhanced transaction efficiency and scalability provided by Lightning and OCAP.
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