Ethereum Layer 3 Protocols Might Be A Thing, Here’s What To Expect

While layer-2 protocols have been focused on “scalability,” layer-3 protocols would serve a much different purpose, says Ethereum co-founder Vitalik Buterin. While Ethereum-based layer-2 solutions have been focused on hyperscaling the network, Ethereum co-founder Vitalik Buterin believes layer 3s will serve a far different purpose — providing “customized functionality.” Buterin shared his thoughts in a Saturday post, providing three “visions” of what layer 3s will be used for in the future. The Ethereum co-founder said a third layer on the blockchain makes sense only if it provides a....

Ethereum competitors make inroads into DeFi as the total value locked and on-chain protocols continue to rise for these layer-1s. Layer-1 (L1) protocols are the foundation of the decentralized application ecosystem, with the Ethereum network dominating the landscape in terms of the number of protocols launched on-chain and total value locked (TVL), followed by BNB Chain and Fantom. As the sideways market of 2022 drags on and serious projects use the time away from the frenzy of bull markets to work on development, several L1 protocols have been outperforming the field and making gains....

While the world waits for Ethereum 2.0, trailblazing developers are taking matters into their own hands with innovative solutions. On the latest episode of Blockchain and Booze, Draper Gorem Holm’s Adam Levy sits down with three leaders in the blockchain industry to talk about layer-two solutions on the Ethereum network. Levy is joined by Stani Kulechov of Aave, Jack O’Holleran of Skale and Antonio Juliano of dYdX. What began as a discussion on high fees quickly transitioned into a greater commentary on the potential power of decentralized finance.The Ethereum conundrumFor those not....

Layer-one projects register a steady inflow of new users as the cost of using the Ethereum network gives projects like Avalanche and Cardano room to gain a foothold in the market. The rise of decentralized finance and nonfungible tokens has transformed the blockchain ecosystem and generated near unimaginable riches for investors, but none of this would be possible without the strong foundation offered by layer-one blockchain networks like Bitcoin and Ethereum. Smart contracts and layer-two protocols promise to revolutionize the finance and logistics industry, but they require a robust,....

Ethereum competitors and layer-one projects are capitalizing on the network’s untenable gas fees by launching mining and developer incentives that are also boosting token prices. In the ever-evolving world of cryptocurrencies and blockchain technology, the race to establish a highly scalable, user-friendly network capable of being adopted on a global scale is a never-ending marathon where new competitors regularly join in on the race. Bitcoin is undoubtedly the market leader when it comes to network security, active users and market capitalization value, while Ethereum has thus far....