Understanding L2 Transaction Lifecycle: From Submission to L1 Finality

When you deposit assets from a Layer 2 to a centralized exchange, you often encounter a waiting period of around 25 minutes before the funds become available. Why such a delay? This article breaks down the entire journey of a Layer 2 transaction: from its initial submission to its final settlement on Ethereum. We'll dive into key concepts like the OP-Stack architecture, blob transactions, and the fascinating two-phase commit process that ensures your transaction's security through cryptoeconomic guarantees worth billions of dollars.