What it means
A network built on top of a main blockchain such as Ethereum that handles transactions faster and for less.
A layer 2 processes transactions on its own and then records them in batches on the main chain, which shares the cost across everyone in the batch.
How it works
Base, where Defied runs, is a layer 2 on Ethereum.
Related terms
| Term | What it means |
|---|---|
| Base | A public blockchain built by Coinbase that runs on top of Ethereum, with low fees and fast confirmations. |
| Blockchain | A shared record of who owns what, kept by many computers at once, that no single company can change on its own. |
| Gas fee | The small fee paid to a blockchain network to process a transaction. It's also called a network fee. |
This glossary explains terms in general. It isn't investment, tax or legal advice.