What is Layer 1 & 2 of Blockchain? and its impact on ESG

Ultimate Access Podcast

In this podcast, my guest is Kamlesh Nadwara from India, a thought leader in the Blockchain space.

Currently working as the CTO for Snapper Future Tech, he has also worked extensively as a part of the Hyperledger Blockchain steering team.

Hyperledger, a global open source foundation for developing Blockchain use cases for positive impact.
Kamlesh says that wherever trust and transparency between participants is required, Hyperledger can help.

As an ecosystem which gathers like-minded individuals, it allows people to source Blockchain solutions at zero cost.

Kamlesh then goes on to describe the levels to Blockchain, with a layer 1 Blockchain like ethereum where transactions are written directly on the public Blockchain.

A layer 2 technology, which is next up, overcomes scalability challenges posed by level 1 Blockchain.
By running side chains on layer 2, transaction numbers per second that can be processed can rises exponentially.

Additionally, layer 2 is better for the planet too, using much less energy, to mint new blocks. Less of a carbon footprint, essentially also means savings on cost. A win-win situation.

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