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Gate Adds Kasplex Layer 2 Support for Kaspa Deposits and Withdrawals

The exchange said users can move Kaspa from the base-layer network to Kasplex Layer 2 (secondary scaling network), which is designed for smart contract (self-executing blockchain code) compatibility and higher transaction efficiency.

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Summary

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Terms & Concepts
  • Layer 2: A secondary blockchain scaling network built on top of a base chain to improve speed, cost, or functionality without replacing the main network.
  • Smart contract: Self-executing blockchain code that automatically carries out predefined actions when specified conditions are met.
  • Kaspa Layer 1: The base blockchain network where native Kaspa transactions are settled before assets are bridged or moved to additional networks such as Kasplex.