Today is the time when everybody is investing in crypto and wants to be a part of the rapidly growing space of Web3. The blockchains that are the backbone of the entire space have been tempered. The speed of transactions has slowed down drastically leading to the rise of\

👉 Transaction Per Second (TPS)

👉 Processing time.
👉 Gas fees

Layer 2 Blockchain aka L2 Blockchain is an additional framework that is added to an existing blockchain with the motive to make the existing feature of the L1 blockchain smoother. Blockchains like Bitcoin and Ethereum do not have high TPS which makes the process very time-consuming and slow to process.
L2 being an additional framework holds the features of carrying out transactions and processes independently and later on adding it to L1.

Making transactions smoothly and faster has now become a dream. People using blockchains such as Ethereum and Bitcoin have to pay huge gas fees and wait forever ⏳ for the transaction to be completed. Thus, the introduction of Layer 2 like optimism has been a life savior here 😮‍💨.

With emerging traffic on the Ethereum blockchain, it has failed to cope and increase the speed. This has led to the slowdown of the process and has given a chance for competitor L1 Blockchains to come into the picture.

Optimizing the 2nd largest Ethereum Layer 2 blockchain that sits upon the existing blockchain, handles all the transactions and makes them in a bundle that is further validated on L1.

Blockchains like Ethereum have been working actively in finding a way to improve TPS(Transaction Per Second). Given the concern measures such as the introduction of Layer 2 have been taken. There are several L2 that are yet to come up but Optimism, the second largest Ethereum L2 is being used proactively.

Optimism is a Layer 2 on the existing L1 which is the main blockchain. What it does is the roll-up technology i.e. Bundling up the transactions which can be further validated on L1. The main advantage of using optimism is the gas fee which is lowered drastically as compared to the gas fee on Ethereum.