Vitalik Buterin Proposes to Transfer NFTs Issued on Ethereum to Second Level Solutions
Main page News, Ethereum, Vitalik Buterin, NFT
Hot topic
10 September
132 132

Vitalik Buterin, developer of Ethereum, has proposed to transfer non-fungible tokens (NFTs) issued on the Ethereum blockchain to a second-level (L2) solutions ecosystem.

With this move, Buterin aims to reduce the gas consumption of the mainnet. In particular, he has said:

"To reduce fees, we need to move NFTs to a second-level ecosystem. However, to do this properly, good L2 interoperability standards are needed so that the ecosystem doesn't get stuck on one particular solution."

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

He has highlighted that the non-fungible token segment needs low fees "due to the non-financial nature of a large portion."

Existing solutions such as Arbitrum can be used to move NFTs to a second-level ecosystem.

Since this has some drawbacks, Buterin has proposed a system that allows NFTs to be transferred between accumulated platforms or backbones by issuing wrapped tokens.

Read also:
Please describe the error
Close