GameSpot Wallet Available Beta Version That Allows Cheaper And Faster Transactions

GameSpot finally launches its own digital wallet (photo: GameSpot Wallet website)

JAKARTA - GameSpot has finally launched its digital wallet that allows gamers to store, send, receive and use cryptocurrencies and non-fungible tokens (NFT) via their web browser, on May 23, local time.

GameStop Wallet is a self-storable Ethereum wallet, which gives you complete control over your assets.

This wallet is available as an existence for Google Chrome and Brave. However, GameSpot wallet erb site says that it will be available as an iPhone app too in the future.

It's official! The GameStop Wallet is here.Download: https://t.co/dK2dmRmwRI🧵👇

— GameStopNFT (@GameStopNFT) May 23, 2022

The GameStop wallet has direct Ethereum Layer 2 integration, which means you can transact on Ethereum Layer 2 and get cheaper and faster transactions than with the Ethereum Layer 1 Mainnet.

What is Layer 2

To understand Layer 2, you must first know what Layer 1 is. Layer 1 is the base layer of the blockchain, also referred to as the Ethereum mainnet. It often suffers from network congestion leading to high transaction fees and long delays.

Layer 2 is a set of protocols created to solve those problems, operating on top of the blockchain, but most importantly still being part of that underlying network.

Layer 2 provides faster speeds and lower transaction fees than the blockchain itself, while maintaining the security and trustworthiness of the Ethereum mainnet.

Lastly, it should be noted that this is a beta launch. With the launch of its new wallet, GameStop also confirmed that the upcoming NFT marketplace will be available in the second quarter of this year.

Once launched, users will be able to use their wallet in conjunction with the marketplace.