Blockchains Built to Scale | #𝗦𝗔𝗟𝗧𝗡𝗬 | Summary and Q&A

TL;DR

Blockchain experts discuss the significance of layer one and layer two solutions in the cryptocurrency industry.

Key Insights

• 👤 Layer one and layer two solutions are vital for scaling blockchain networks and improving user experiences.
• 👯 Aptos aims to build a layer one solution that can scale for a billion people's user experiences and prioritize evolutionary components.
• 🕸️ Web 2 companies are increasingly interested in adopting web 3 technologies to avoid being disrupted and losing market share.

Transcript

foreign built to scale we are so lucky to have Mo from Aptos and Sandeep from polygon here to join us the goal of today is for everybody here to understand what a layer one is what a layer two is and why we need them uh and I would love to just give a quick background on your experience in this in this Space Mo if you could kind of just give us a l... Read More

Questions & Answers

Q: What is the difference between layer one and layer two in the context of blockchain technology?

Layer one refers to the base layer of a blockchain network, such as Ethereum, where transactions are directly settled. Layer two solutions, on the other hand, are built on top of layer one and are designed to improve scalability and enhance user experiences.

Q: How does Aptos aim to solve the scalability issue in blockchain networks?

Aptos is building its own layer one solution that is scalable for a billion people's user experience. They prioritize evolutionary components and aim to address the inefficiencies of existing proof-of-work networks.

Q: What challenges do web 2 companies face in adopting web 3 technologies?

Many web 2 companies are concerned about being disrupted and losing users and revenue by not adapting to web 3 technologies. They are now rushing to innovate and incorporate blockchain into their business models.

Q: How do regulators fit into the picture of blockchain technology?

The speakers believe that regulators should be thoughtful in their approach to blockchain regulation, avoiding stifling innovation while ensuring the protection of users. Regulation may bring challenges and disrupt the industry, but it is necessary for its long-term growth.

Summary & Key Takeaways

• The speakers, Mo from Aptos and Sandeep from Polygon, discuss their backgrounds and experience in the blockchain space.

• They emphasize the importance of layer one and layer two solutions in scaling blockchain networks and improving user experiences.

• Mo explains his journey from working with enterprise-grade blockchains to joining Facebook and subsequently co-founding Aptos.

• Sandeep shares his experience in the crypto space, his interest in decentralized networks, and the mission of Polygon to achieve mass adoption of blockchain technology.