ST Alpha - "From what I can see, Flexa is a kind of "proprietary" layer 2 network akin to the Bitcoin lightning network" (Reading a Post)

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In response to "I don’t understand this. Won’t they have to pay gas fees and such that eat away a lot of the payment? -- nm" by spamlet

From what I can see, Flexa is a kind of "proprietary" layer 2 network akin to the Bitcoin lightning network

Posted by oblique (aka kkuphal) Jun 3 '22, 11:06

so, yes, gas fees apply but not on each individual transaction which is taking place inside the Flexa network. Those transactions are reconciled in larger batches on the Layer 1 (ETH/BTC) networks and thus are not subject to excessive per-transaction gas fees

The AMP token is the Flexa collateral for transactions (www.reddit.com)

Responses:

SO basically it's Visa for crypto -- nm - spamlet Jun 3, 11:13 1
- Yes it is a common target for displacement long with remittance networks like Western Union -- nm - oblique Jun 3, 11:14

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From what I can see, Flexa is a kind of "proprietary" layer 2 network akin to the Bitcoin lightning network

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