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0 sats \ 0 replies \ @optimism 20h \ on: Are exchanges and ETF's basically another layer two? bitcoin

https://www.lxresearch.co/starting-to-define-layers-a-year-later/

A layer 2 is a protocol that provides users the ability to leave an offchain system if its operators go offline and also ensures that the operators of a system cannot cheat. Both of these assumptions need to be provable and enforced onchain.