A multi-layered protocol is a framework consisting of multiple levels that facilitate various functions in a blockchain network. Each layer has its specific purpose, allowing for a more efficient and scalable system.The first layer, often called Layer 1, typically refers to the base blockchain, where core functionalities like transactions and consensus occur. Examples include networks like Bitcoin and Ethereum.Layer 2 solutions are built on top of Layer 1 to improve performance. They help reduce congestion, lower transaction fees, and increase transaction speed. Examples of Layer 2 solutions include the Lightning Network for Bitcoin and various rollup technologies for Ethereum.By separating functions into different layers, these protocols can optimize the strengths of each layer while enhancing overall network efficiency. This design allows for greater flexibility, as changes can be made to one layer without affecting others. As a result, multi-layered protocols contribute to improving user experience and supporting broader adoption of blockchain technologies.

Bybit Removed from France’s AMF Blacklist After Two Years of Compliance Efforts
Cryptocurrency exchange Bybit has been officially removed from the blacklist of France’s financial markets regulator, the Autorité des Marchés Financiers