Ethereum, became really popular over the last few years because they are resistant to censorship and can be programmable. This means that a lot of products can be built on them and they can be used in various cases.</p>\n<p>However, the issue with Ethereum is that it can only process 7 to 11 transactions per second, which is really not that much. A lot of users on the blockchain start to compete with each other over who will be the first to process their transactions, which leads to a bidding war over space that results in an increase in transaction prices. It even cost over $80 to send a token to another address on the Ethereum network at one point in 2021.</p>\n<p>Layer 2 protocol was launched in order to solve problems like the one that is described above. It enables transactions to be detached from the underlying blockchain, which allows thousands of transactions to be processed per second. 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Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug 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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":442,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Large Cap?","slug":"what-is-large-cap","section":"L","keyword":"Large Cap","status":"published","definition":"market capitalization of at least ​​$10 billion.","content":"<p><strong>Large cap</strong>, or large capitalization, refers to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-market-capitalization-market-cap-mcap/">market capitalization</strong></a> of at least $ 10 billion. While the term originated in the traditional markets, it&rsquo;s also applicable in the crypto world. The market cap of a <strong>crypto token</strong> can be calculated when you multiply the price of the currency by its <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-circulating-supply/">supply in circulation</strong></a>.</p>\n<p>Crypto tokens are classified into three categories based on market cap: small, mid, and <strong>large</strong>. This allows investors to know what the scale of the project they&rsquo;re investing in is.</p>\n<p>In the crypto world, well-established projects that belong roughly to the top-25 by market cap are considered to be large cap. They are seen as <strong>the most popular crypto projects</strong> within the crypto industry and are typically backed by a strong community. Furthermore, large cap projects have fewer issues handling adverse events.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mid-cap/">Mid-cap projects</strong></a> are valued between $3 billion and $10 billion. Mid-cap projects may show greater growth than large cap projects, but they are often more volatile.</p>\n<p>The value of small cap projects ranges between $300 million and $2 billion. These projects have a lot of <strong>growth potential</strong> but are very volatile in the face of macroeconomic changes.</p>\n<p>The market cap of a project can be very revealing to investors and allow them to make better judgments of the financial standing, as well as the community perception. Investors are more likely to put their money into a project with a <strong>stronger financial standing</strong> and trustworthy community sentiment.</p>\n<p>Large cap tokens are often preferred over small or mid-cap tokens due to their business model. Large capitalization points towards a more consistent market performance and may show that <strong>the project will have low sensitivity toward small news or events</strong>. This makes the large cap assets appear less volatile and thus garner the attention of more investors.</p>\n<p>Investors may also be interested in the staking rewards that large cap tokens may promise. As the prices increase, <strong>investors can find the interest income of large cap projects beneficial</strong>.</p>\n<p>Large cap crypto projects tend to show more transparency and authenticity in regard to their operational processes. Investors can be granted access to project information that may help them make well-informed decisions. Furthermore, large cap projects must provide their investors with <strong>periodic financial reports and updates</strong>.</p>\n<p>On the other hand, small cap projects shift their focus exclusively to their business objectives. Although small cap stocks have the highest potential for rapid growth, they are significantly more sensitive to market fluctuations and, therefore, more volatile.</p>\n<h2>How to Calculate Market Cap</h2>\n<p>If a project has <strong>40,000 tokens in circulation</strong> and the price of one token is $4, the market capitalization is calculated using the following formula:</p>\n<p>Market capitalization = 40,000 tokens x $4 per token = $80,000</p>\n<p>If the market capitalization exceeds $10 billion, it is considered to be a large cap. Such projects tend to have <strong>long-standing market histories</strong> and are therefore seen as safe investments.</p>","level":"medium","meta_title":"What is Large Cap? Definition & Meaning | Crypto Wiki","meta_description":"Large Cap meaning: Large Cap - market capitalization of at least ​​$10 billion.","meta_keywords":null,"language":"en","created_at":"2022-03-18T15:04:24.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-large-cap"},"prevSection":{"id":436,"original_id":null,"author_id":42,"translator_id":null,"title":"What are Laser Eyes?","slug":"what-are-laser-eyes","section":"L","keyword":"Laser Eyes","status":"published","definition":"a viral Twitter meme that Bitcoiners use when they try to push the value of Bitcoin (BTC) past its highest price.","content":"<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-bitcoiner/">Bitcoiners put Laser Eyes&nbsp;on their Twitter profile pictures when they try to push the value of <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> past $100,000. This group believes in Bitcoin's future and is likely to have <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-diamond-hands/">Diamond Hands</strong></a>, which means they are only interested in accumulating more BTC and using <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hodl/">the HODL strategy</strong></strong></a> for the long run, no matter how many difficulties they have to face along the way.&nbsp;</p>\n<p>The association of Laser Eyes and Bitcoin started in February 2021 with the <strong>#LaserRayUntil100 hashtag</strong>. Laser Eyes usually depict two red laser beams shooting from the user's eyes on his/her profile picture, though there can be some variations in colors like blue, green, or other. The majority of users put Laser Eyes on their profiles for a 24-hour period. Twitter user @CHAIRFORCE_BTC was the first one who used Laser Eyes.</p>\n<p>Primarily, laser eyes were <strong>the ability of superheroes</strong>, like Superman, before they were used to indicate support for Bitcoin. This creates an idea that laser eyes are a superpower that only extraordinary people can possess, which resonates with the Laser Eyes concept in the crypto world.</p>\n<p>A lot of <strong>well-known and influential people</strong> in the world support this trend including Elon Musk, the CEO of Tesla, Cynthia Lummins, the US Senator, Tom Brandy, the NFL star, and many others.</p>","level":"easy","meta_title":"What are Laser Eyes? Definition & Meaning | Crypto Wiki","meta_description":"Laser Eyes meaning: Laser Eyes - a viral Twitter meme that Bitcoiners use when they try to push the value of Bitcoin (BTC) past its highest price.","meta_keywords":null,"language":"en","created_at":"2022-03-18T14:14:50.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-are-laser-eyes"},"currentChapter":"L","currentSection":"what-is-layer-2","chapterTitle":"L","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-layer-2","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter L

What is Layer 2?

Layer 2 MEANING:
Layer 2 - a secondary protocol built on an existing blockchain system that helps to solve scaling and transaction speed issues.
Easy
1 minute

Let's find out Layer 2 meaning, definition in crypto, what is Layer 2, and all other detailed facts.

Layer 2 is a secondary protocol developed on top of an existing blockchain system that helps major cryptocurrency networks to handle scaling and transaction speed difficulties. Large blockchains, like Ethereum, became really popular over the last few years because they are resistant to censorship and can be programmable. This means that a lot of products can be built on them and they can be used in various cases.

However, the issue with Ethereum is that it can only process 7 to 11 transactions per second, which is really not that much. A lot of users on the blockchain start to compete with each other over who will be the first to process their transactions, which leads to a bidding war over space that results in an increase in transaction prices. It even cost over $80 to send a token to another address on the Ethereum network at one point in 2021.

Layer 2 protocol was launched in order to solve problems like the one that is described above. It enables transactions to be detached from the underlying blockchain, which allows thousands of transactions to be processed per second. There are two main forms of Layer 2 protocols – Zero-Knowledge Rollups and Optimistic Rollups.

Besides, note that layer 2 solutions inherit their security from Ethereum (or other blockchains), which means that they are not dependent on any other network, validators, or businesses to secure assets.
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