OK let’s talk about important but exceedingly boring stuff.
Imagine you're in a magical land where DeFi (Decentralized Finance) is booming, and everyone wants to join the fun. But there's a problem - every time you want to make a transaction, you have to pay gas fees, which are charges on the Layer 1 (L1) blockchain. It's like paying a toll to use the magical highway!
Action | Protocol |
Initial Purchase In-game Tokens and Assets NFTs Less Valuable assets | Layer 1 Layer 2 Layer 2 Layerless |
But worry not, because a group of DeFi enthusiasts came up with a good idea in 2018 while they were gaming all night in Hong Kong. They designed a different blockchain layer called Layer 2 (L2). This new layer is like a superfast and cost-effective side road where the gas fees are much lower, allowing you to save your precious magical coins.
Our plan is to minimize all in-game Layer 1 transactions and thereby save Princess Pearl.
Hoo tokens will be bought on Layer 1 because Layer 1 tokens hold more value, but the only time you will pay gas is when you are loading your account. The in-game assets will trade on a Layer 2 chain. Trash assets, like used boots with a hole in them, will trade only on the in-game server.
If you don’t care about blockchain anonymity you can buy tokens and assets with your credit card and keep everything in-house. ZERO gas fees. Your assets (tokens and NFTs) will not go to the blockchain until you hit the button that migrates them.