Layer 2 Solutions: Enhancing Speed and Reducing Costs

The Lightning Network operates on top of the Bitcoin blockchain, allowing for off-chain transactions. These transactions are processed almost instantly and at a fraction of the cost compared to typical Bitcoin transactions. Once transactions are completed, they are settled on the Bitcoin mainnet, ensuring the security and integrity of the data.

Layer 2's role in DeFi:

By using the Lightning Network, Axiom can facilitate microtransactions, frequent trading, and other DeFi activities at low costs. This allows the platform to scale efficiently and handle a large volume of transactions without overwhelming the Bitcoin mainnet.