The first Ethereum-based Layer-2 Eclipse is all set to launch its mainnet in October 2024, the local media reported on Friday. According to details, Eclipse mainnet is all set to roll out “Web 2 Scale to Web 3” by uniting the best of Ethereum’s (ETH) security, Solana’s (SOL) speed, and the layer-1 blockchain Celestia’s (TIA) storage attributes.
Vijay Chetty, CEO of Eclipse Labs, which uses the Solana Virtual Machine for transactions, told Cointelegraph at the Solana Breakpoint Conference in Singapore on Friday that the public mainnet will be launched by the end of October.
Eclipse Mainnet Open to Developers and Builders
Mr. Chetty stated, “We’re on developer mainnet right now, which means that we’re open for developers and builders, but we haven’t enabled any front ends or user interfaces yet.”
The Eclipse Labs CEO further highlight that a blockchain project with the top attributes of the best crypto projects, including Ethereum, Solana, and Celestia, is part of a “vision that we very much subscribe to.”
Handpicking the Best, Avoiding the Worst
Chetty added, it means Eclipse would stray away from the worst features of Ethereum, Solana, and Celestia.
According to the Eclipse Labs CEO, Eclipse would avoid Solana’s decentralization constraints and Ethereum’s slow decentralization limitation and Ethereum’s snail-paced transaction throughput on the layer base have pegged back both the blockchains for quite some time. He believed these constraints have limited their potential to reach widespread success.
On the other hand, Vijay Chetty observed, Ethereum layer 2 are accustomed to a lot higher transaction throughput, which will resolve the speed issue with the upcoming project. Similarly, he mentioned costly data storage solutions result in demise of many blockchain projects, which Eclipse will cover with the integration of Celestia.
Fierce Competition Awaits Eclipse Mainnet
Eclipse is all set to enter a zone which is highly contested by some of the biggest blockchain projects. It means Vijay Chetty’s upcoming project is set to face a strong competition in the competitive Ethereum Layer-2 market.
According to the data compiled by L2Beat, some of these contenders include Arbitrum One, Base and OP Mainnet. Arbitrum One with $13.7 billion, Base with $6.5 billion, and OP Mainnet with $6 billion total value locked (TVL) are set to pose a serious challenge to Eclipse Labs.
In a bid to offset the lost ground, Vijay Chetty said that Eclipse will integrate a number of existing “Solana-based blue chip applications” besides creating many native applications.
He went on to share that Eclipse will integrate Solana-based decentralized exchanges Mango and Orca and lending/borrowing platform Solend. Eclipse project will rebrand some of these applications, he added.
The Final Word
Innovation is the name of the game when it comes to the crypto world. There is always something new brewing here. As Eclipse Labs is all set to launch the Eclipse mainnet of its blockchain project in October this year, the competition in the layer-2 blockchain category is set to heat up in the times to come.
By integrating the best features of the top crypto projects like Ethereum, Solana, and Celestia, Eclipse is set to offer the best security, lightning speed, and low-cost storage solutions. CEO of Eclipse, Vijay Chetty hopes to give top layer-2 projects, including Arbitrum One, Base, and OP Mainnet a stiff competition by offering the best attributes of the leading crypto projects.
The launch of Eclipse mainnet will open new avenues of research and investment in the crypto-verse. Stay tuned to TheBITJournal for more updates and developments related to the Eclipse mainnet launch in October and how it will compete against the top contenders in the layer-2 market.
