What it means
A main blockchain that records and secures its own transactions, such as Ethereum or Bitcoin.
Layer 2 networks run on top of a layer 1 and rely on it for security.
How it works
Base is a layer 2 on the Ethereum layer 1.
Related terms
| Term | What it means |
|---|---|
| Layer 2 | A network built on top of a main blockchain such as Ethereum that handles transactions faster and for less. |
| Ethereum | The public blockchain where smart contracts and most of DeFi began. |
| Bitcoin | The first cryptocurrency, launched in 2009, with a fixed supply of 21 million coins and its own blockchain. |
This glossary explains terms in general. It isn't investment, tax or legal advice.