What Does a 'Layer 2 Blockchain' Mean?

Since Satoshi Nakamoto released the Bitcoin whitepaper in 2008, blockchains have continued to gain popularity.

People have applied blockchain technology to other areas, besides payments, thanks to its decentralised and secure nature.

Scalability is what Ethereum founder, Vitalik Buterin, calls a component of the "blockchain trilemma."

Buterin's thesis explains that no blockchain network can equally provide decentralisation, security, and scalability. They must sacrifice certain elements to achieve near-optimal functionality.

Bitcoin and Ethereum trade off scalability for security and decentralisation for scalability. That explains why a major blockchain network like Bitcoin can process around 7 transactions per second. For context, Visa's payments system can process up to 24,000 transactions per second.

If blockchain technology must attract more users, it must solve the scalability problem. Several solutions have appeared in recent years, including the now-popular “layer 2” protocols.

Click HERE to find out what layer 2 blockchain means, how it works, and why it’s important for blockchain adoption.

Check for Log4j vulnerabilities with this simple-to-use script

If you're not certain whether your Java project is free from Log4j vulnerabilities, you should try this easy-to-use scanning tool immediately.

To find out what you should be doing check HERE.

DeFi - Definancializing Productive Activity

As software and hardware engineers around the world are untangling the centralization of the internet, a vocal portion within the enclave of blockchain-based solutions - generally referred to as decentralized finance - or DeFi for short - has emerged. While blockchains provide the building blocks for reliable information and - to a lesser extend value - transport functions - a layer of middleware to the larger concept of cryptographic primitives mapped by protocols, current developments are largely focused on digitally native assets, and their derivatives.

You can read the full article HERE.

A Visual Guide to Profile Picture NFTs

How do you represent yourself on social media? For most people it’s a selfie, a photo with their friends, or a picture of their pet—but what about a digitally-created character?

Profile picture NFTs are pieces of digital artwork that people use to express themselves online. Each item is a depiction of a character’s face, and has a unique mix of attributes that gives it a sense of collectability.

Like other NFTs, they’re secured on a blockchain and can be bought and sold for cryptocurrency. And while there’s nothing to stop you from screenshotting an NFT and using it for your own profile, the market for these items continues to grow.

To learn more, check out this infographic HERE. It explains how three well-known profile picture NFT collections were created.

Is 'Buy Now, Pay Later' the Future of Consumer Lending?

Some view soaring BNPL as an existential threat to credit cards and traditional bank loans. Others argue there are strong opportunities.

Read the full article HERE

Green energy: Which sources are the most sustainable?

Fossil fuels still supply about 80% of the world’s power. How can energy be produced and used more sustainably to meet climate targets? We answer your questions. 

 

China Hits Top Influencer With $210 Million Fine Over Taxes

One of China's top e-commerce influencers has been ordered to pay an unprecedented $210 million fine for tax evasion. She's one of the country's most popular online retailers reportedly generating sales of $4.8 billion last year.