The Increasing Significance of Layer 2 Solutions With the continuing evolution of the Bitcoin network, Layer 2 solutions are becoming more and more essential for improving scalability and efficiency. These solutions, such as the Lightning Network, offer quicker transaction times and lower fees, addressing some of the key challenges faced by the Bitcoin blockchain.
Impact on Bitcoin’s Usability and Adoption The introduction of Layer 2 solutions could greatly enhance Bitcoin’s usability, making it more appealing for everyday transactions and small-scale transfers. Consequently, this could result in broader adoption of Bitcoin in various sectors, including retail and e-commerce.