What Are Altchains? Layer 0, Layer 1, And Layer 2 Explained

Altchains is an abbreviation for “alternative blockchains,” which refers to any blockchain other than Bitcoin or Ethereum. Altchains emerged in 2021 due to the scaling and transaction fee challenges facing Ethereum, and altchain dev teams have grasped this opportunity to build out more scalable and cheap blockchains to compete with Ethereum. In this video, we'll share some key insights on what these altchains are, what they do, how to use them, and more!
Links Mentioned:
Written article on altchains - www.coingecko.com/learn/ultimate-beginner-s-guide-to-alternative-chains
Search for altcoins here - www.coingecko.com/
Solana - www.coingecko.com/en/coins/solana
Polkadot - www.coingecko.com/en/coins/polkadot
Avalanche - www.coingecko.com/en/coins/avalanche
Phantom Wallet - phantom.app/
Solend - solend.fi/
Solscan - solscan.io/
Timestamps:
00:00 Intro
00:20 What are altchains?
00:52 Layer 0,1, and 2 explained
01:41 Sidechains exaplined
02:07 Altcoins explained
02:27 EVMs explained
02:43 How to use Altchains?
08:05 Closing thoughts
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#Altcoin #Altchains #blockchain #Layer0 #Layer1 #Layer2 #sidechain #ETH #BNB #SOL #DOT #AVAX #ADA

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