The Ethereum network is being turbocharged by layer-two solutions
With Ethereum transaction fees still high, more layer-two powered platforms are emerging. The number of decentralized exchanges running layer-two solutions is growing as the Ethereum network struggles to keep up with its own popularity.As excessive Ethereum gas prices continue to hamper smaller transactions and operations on the network, the number of faster and cheaper options continues to expand as layer-two adoption increases. Layer-two solutions have the potential to process thousands of transactions per second, rather than the handful processed on layer-one.The LeverJ decentralized....
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Ethereum is the dominant force in DeFi, and layer-two solutions are a promising alternative, but the layer-one blockchains are not done just yet. Issues with Ethereum congestion and high fees have led to many companies adopting layer-one solutions like Optimistic Rollups, OMG Network and many others. These platforms allow transactions to be created outside of the Ethereum network on what are known as “sidechains,” which then can be reconciled on the main Ethereum network in one simple transaction.These layer-two options are gaining a lot of traction in anticipation of the release of....
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....
DeversiFi and Loopring partner up to improve scalability solutions based on layer two technology. Layer two decentralized exchanges Loopring and DeversiFi are joining forces by forming a committee dedicated to promoting usage of layer two solutions, named “L2 Squared” or just L².Announced on Monday, the alliance wants to ease the transition for users into these higher performance on-chain exchanges. “As things stand, Loopring and DeversiFi are the first exchanges on Ethereum to harness Layer-2 solutions, using zkRollup and StarkEx’s Validium respectively,” explained Will Harborne, founder....
As questions circle about the network’s capacities following surging transaction costs and accelerating activity in the decentralized finance (defi) arena, Ethereum’s founder Vitalik Buterin opines that layer-2 solutions could help the network scale by a factor of 100x in mere months to meet growing demand. Sidechain Bundling Touted as Workaround to Current Network Congestion Ethereum has passed many milestones over the last 12-months and can be credited as the protocol responsible for popularizing the defi revolution thanks to its smart contract capabilities. Yet, as demand....
Experts share their views on how the Merge would impact Ethereum’s scalability solutions in the form of layer-2 chains. Ethereum is just over a week away from officially moving to a proof-of-stake (PoS) blockchain with the Merge slated for completion around Sept. 13–15. With the transition, Ethereum would abandon its current proof-of-work (PoW) chain, eliminating miners from the ecosystem. Ethereum is a vast ecosystem with thousands of decentralized applications and decentralized finance protocols working on top of it. Additionally, there are several layer-2 solutions, i.e., solutions....