L2 execution refers to the processing of transactions and smart contract operations on a Layer 2 scaling solution, rather than directly on the main blockchain, or Layer 1. These off-chain executions are then batched and verified on the Layer 1 chain, significantly increasing transaction throughput and reducing fees. It serves to augment the base layer’s capacity.
Context
L2 execution is a critical area of development for improving the scalability of popular blockchains like Ethereum. News often reports on the performance, security, and adoption of various Layer 2 technologies such as rollups, sidechains, and state channels. The efficiency and reliability of L2 execution are key factors in determining the future growth and usability of decentralized applications.
Staked Randomness Sequencer (SRS) uses VRF-weighted stake to select L2 sequencers, eliminating the single point of failure and unlocking true censorship resistance.
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