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Worth noting that credit cards precede debit cards. In effect credit cards were Layer 2 until the Layer 1 adapted and managed to scale and implement the feature
by TZubiri 2y ago
Worth noting that credit cards precede debit cards. In effect credit cards were Layer 2 until the Layer 1 adapted and managed to scale and implement the features from L2. Like Bitcoin with Segwit and lightning network, or what Vitalik is proposing here.
- gizmo686 2y agoCredit cards preceded the Internet. The problem wasn't that banks didn't scale, it was that the latency of informing the bank of a transaction was prohibitive.