Altchains Explained: Layer 0, Layer 1 & Layer 2 Simplified 🚀

Altchains is an abbreviation for “alternative blockchains,” which refers to any blockchain other than Bitcoin or Ethereum. Altchains emerged in 2021 due to the scaling and transaction fee challenges facing Ethereum, and altchain dev teams have grasped this opportunity to build out more scalable and cheap blockchains to compete with Ethereum. In this video, we'll share some key insights on what these altchains are, what they do, how to use them, and more! Links Mentioned: Written article on altchains - https://www.coingecko.com/learn/ultimate-beginner-s-guide-to-alternative-chains Search for altcoins here - https://www.coingecko.com/ Solana - https://www.coingecko.com/en/coins/solana Polkadot - https://www.coingecko.com/en/coins/polkadot Avalanche - https://www.coingecko.com/en/coins/avalanche Phantom Wallet - https://phantom.app/ Solend - https://solend.fi/ Solscan - https://solscan.io/ Timestamps: 00:00 Intro 00:20 What are altchains? 00:52 Layer 0,1, and 2 explained 01:41 Sidechains exaplined 02:07 Altcoins explained 02:27 EVMs explained 02:43 How to use Altchains? 08:05 Closing thoughts Download CoinGecko App!📱 iOS: https://gcko.io/coingecko-ios Android: https://gcko.io/coingecko-android Follow us! Twitter: https://twitter.com/coingecko Instagram: https://www.instagram.com/coingecko TikTok: https://www.tiktok.com/@coingeckotv Telegram: https://t.me/coingecko Subscribe to CoinGecko's Newsletter! 📩 https://landing.coingecko.com/newsletter/ #Altcoin #Altchains #blockchain #Layer0 #Layer1 #Layer2 #sidechain #ETH #BNB #SOL #DOT #AVAX #ADA