Layer2Transition
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Ethereum Layer-2 Network Blast Launches, Unlocking Billions in Crypto Funds
Blast, a new Ethereum layer-2 scaling network, has officially launched its mainnet, allowing users to access billions of dollars worth of cryptocurrency that were previously locked up. This comes after a period of anticipation and controversy surrounding the project.
Unlocking Staking and Airdrop Rewards:
Prior to the launch, users deposited over $2.3 billion in crypto to Blast through a bridge from the Ethereum mainnet. These funds were locked up in exchange for staking and airdrop rewards, which incentivize users to participate in the network. With the launch, these funds are now unlocked and users can utilize them for transactions on the Blast network.
Competition in the Ethereum Scaling Space:
Blast enters a competitive landscape already occupied by established layer-2 scaling solutions like Arbitrum and Optimism. These networks aim to address the challenges of scalability and high transaction fees that have plagued the Ethereum mainnet. Blast hopes to differentiate itself through its unique features and incentive structure, similar to how its founder's previous project, the NFT marketplace Blur, achieved success.
Controversy Surrounds Launch:
Despite the excitement surrounding the launch, Blast has faced criticism. Some industry players, including investment firm Paradigm, have raised concerns about the project's rollout. These concerns primarily focus on the potential risks associated with locking up large amounts of crypto and the potential for manipulation within the incentive structure.
The launch of Blast marks a significant development in the Ethereum scaling space. Whether Blast can successfully compete with established players and overcome the initial controversy surrounding its launch remains to be seen. Only time will tell if Blast can live up to its promise of offering a faster and more affordable user experience on the Ethereum network.
#ETH #Layer2Transition #Blastecosystem #BLAST_L2
Unlocking Staking and Airdrop Rewards:
Prior to the launch, users deposited over $2.3 billion in crypto to Blast through a bridge from the Ethereum mainnet. These funds were locked up in exchange for staking and airdrop rewards, which incentivize users to participate in the network. With the launch, these funds are now unlocked and users can utilize them for transactions on the Blast network.
Competition in the Ethereum Scaling Space:
Blast enters a competitive landscape already occupied by established layer-2 scaling solutions like Arbitrum and Optimism. These networks aim to address the challenges of scalability and high transaction fees that have plagued the Ethereum mainnet. Blast hopes to differentiate itself through its unique features and incentive structure, similar to how its founder's previous project, the NFT marketplace Blur, achieved success.
Controversy Surrounds Launch:
Despite the excitement surrounding the launch, Blast has faced criticism. Some industry players, including investment firm Paradigm, have raised concerns about the project's rollout. These concerns primarily focus on the potential risks associated with locking up large amounts of crypto and the potential for manipulation within the incentive structure.
The launch of Blast marks a significant development in the Ethereum scaling space. Whether Blast can successfully compete with established players and overcome the initial controversy surrounding its launch remains to be seen. Only time will tell if Blast can live up to its promise of offering a faster and more affordable user experience on the Ethereum network.
#ETH #Layer2Transition #Blastecosystem #BLAST_L2
🗣️ EOS Network Foundation CEO Yves La Rose reveals plans to explore transitioning EOS to Bitcoin Layer 2 in the upcoming Block Producer (BP) meeting. EOS currently trading at $0.7682, down 11.39%. 🔄🚀 #EOS #Layer2Transition
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If you find yourself drowning in a sea of regret because you did not buy Bitcoin a year ago?! If your investment spirit believes in the world of Bitcoin and strongly believes that it is the key to solving decentralization, then it is time to turn your eyes to the new horizon: Bitcoins, the second layer or related to Bitcoin, such as
CKB, RIF, STACKS, ORDI, NAT and TRAC.
These currencies have the potential to embrace the sky in the coming period. Don't miss the opportunity to ride this wave!!
you must know
The Bitcoin ETF market in the United States is witnessing an unprecedented boom! Trading volume
It reaches a new record of $7.7 billion, well surpassing previous numbers. The iShare Bitcoin ETF from BlackRock leads the scene with trades worth $3.35 billion. the reason? Investor enthusiasm surges as Bitcoin price jumps over 10% to $64,000. Experts confirm: The motivation behind this activity is real demand, not algorithms. Funds like Grayscale Bitcoin Trust and FidelityWise Origin Bitcoin Fund are also seeing double-digit activity. This day represents a historical moment that confirms the growth and popularity of the Bitcoin ETF market.
$BTC $CKB $RIF
#BTC #Layer2Transition #Ordinals #Ordi #Write2Earnn
CKB, RIF, STACKS, ORDI, NAT and TRAC.
These currencies have the potential to embrace the sky in the coming period. Don't miss the opportunity to ride this wave!!
you must know
The Bitcoin ETF market in the United States is witnessing an unprecedented boom! Trading volume
It reaches a new record of $7.7 billion, well surpassing previous numbers. The iShare Bitcoin ETF from BlackRock leads the scene with trades worth $3.35 billion. the reason? Investor enthusiasm surges as Bitcoin price jumps over 10% to $64,000. Experts confirm: The motivation behind this activity is real demand, not algorithms. Funds like Grayscale Bitcoin Trust and FidelityWise Origin Bitcoin Fund are also seeing double-digit activity. This day represents a historical moment that confirms the growth and popularity of the Bitcoin ETF market.
$BTC $CKB $RIF
#BTC #Layer2Transition #Ordinals #Ordi #Write2Earnn
Open-Source Strategies in L2: How Lisk Continues to Embrace Innovation
Lisk has been a leader in digital asset mining and high-performance computing since 2016. They've always been at the forefront of pushing the limits of blockchain technology. Known for being innovative, easy to use, and adaptable, Lisk focuses on open-source approaches to encourage collaboration and sharing of ideas.
This project is devoted to open-source principles, which are crucial for the future of blockchain technology. There's a big update: the platform is moving to the Ethereum Layer 2 (L2) network, joining Optimism's Superchain. This strategic move makes Lisk the first Layer 1 (L1) blockchain integrated with Optimism's L2.
Examining the past seven years, the project initially aimed to expand blockchains through sidechains. In 2023, research revealed that over 90% of transaction fees on L1 protocols focused on Ethereum, leading to a strategic decision to migrate Lisk to Ethereum's Layer 2.
Moving to the new system has several advantages. It makes things more secure, ensures compatibility with EVM, gives access to development tools, makes it easy to include tokens, and allows participation in the Ethereum DeFi ecosystem. Lisk's partnership with Superchain shows its dedication to open-source values, playing a part in creating a connected Web3 future.
In early 2024, the Lisk L2 ecosystem chain will be tested, and developers plan to launch it in Q2. The official launch is set for later in the year. This move aims to reduce fees by up to 90%, compared to Ethereum Mainnet, and more savings are expected through Proto-Danksharding. Lisk's partnership with Ethereum's L2 is a significant move towards a decentralized and community-focused future in blockchain technology.
$LSK #Lisk #Layer2Transition #Layer2Network
Lisk has been a leader in digital asset mining and high-performance computing since 2016. They've always been at the forefront of pushing the limits of blockchain technology. Known for being innovative, easy to use, and adaptable, Lisk focuses on open-source approaches to encourage collaboration and sharing of ideas.
This project is devoted to open-source principles, which are crucial for the future of blockchain technology. There's a big update: the platform is moving to the Ethereum Layer 2 (L2) network, joining Optimism's Superchain. This strategic move makes Lisk the first Layer 1 (L1) blockchain integrated with Optimism's L2.
Examining the past seven years, the project initially aimed to expand blockchains through sidechains. In 2023, research revealed that over 90% of transaction fees on L1 protocols focused on Ethereum, leading to a strategic decision to migrate Lisk to Ethereum's Layer 2.
Moving to the new system has several advantages. It makes things more secure, ensures compatibility with EVM, gives access to development tools, makes it easy to include tokens, and allows participation in the Ethereum DeFi ecosystem. Lisk's partnership with Superchain shows its dedication to open-source values, playing a part in creating a connected Web3 future.
In early 2024, the Lisk L2 ecosystem chain will be tested, and developers plan to launch it in Q2. The official launch is set for later in the year. This move aims to reduce fees by up to 90%, compared to Ethereum Mainnet, and more savings are expected through Proto-Danksharding. Lisk's partnership with Ethereum's L2 is a significant move towards a decentralized and community-focused future in blockchain technology.
$LSK #Lisk #Layer2Transition #Layer2Network
Lisk Protocol Documentation: Bridging the Gap between High-Level Overviews and Technical Details
The Lisk protocol, which guides the blockchains made with the Lisk SDK, is known for being easy to use for developers. It uses an account-based system with modules such as Token, Sequence, Keys, and DPoS, forming a well-organized blockchain setup. The documentation connects general ideas with technical specifics, helping both developers and fans navigate the system with confidence.
Key elements of the protocol include the account-based model, module structure, default modules, transaction types, block structure, and the Lisk-BFT consensus mechanism. Each module, such as Token, Sequence, Keys, and DPoS, handles specific functionalities like token transfers, transaction sequencing, and delegated proof-of-stake.
The documentation delves into block forging, consensus, and security mechanisms, emphasizing the importance of understanding how blocks are created, consensus is reached, and security is maintained. Delegates forge blocks, and the Lisk-BFT protocol ensures security and finality, incorporating a punishment mechanism for protocol violations.
Networking in Lisk involves a decentralized peer-to-peer network, with nodes using WebSockets in the P2P protocol. The RPC and Events layer facilitates node communication, while the application layer ensures a user-friendly interface.
Understanding the Lisk protocol is crucial for developers and blockchain enthusiasts, providing a foundation for secure and efficient decentralized applications. Learning both the big picture and technical details empowers individuals to contribute and innovate within the Lisk community, showcasing the evolving and improving nature of blockchain technology.
#Lisk $LSK #Layer2Transition #Layer2Chains #layer-2
The Lisk protocol, which guides the blockchains made with the Lisk SDK, is known for being easy to use for developers. It uses an account-based system with modules such as Token, Sequence, Keys, and DPoS, forming a well-organized blockchain setup. The documentation connects general ideas with technical specifics, helping both developers and fans navigate the system with confidence.
Key elements of the protocol include the account-based model, module structure, default modules, transaction types, block structure, and the Lisk-BFT consensus mechanism. Each module, such as Token, Sequence, Keys, and DPoS, handles specific functionalities like token transfers, transaction sequencing, and delegated proof-of-stake.
The documentation delves into block forging, consensus, and security mechanisms, emphasizing the importance of understanding how blocks are created, consensus is reached, and security is maintained. Delegates forge blocks, and the Lisk-BFT protocol ensures security and finality, incorporating a punishment mechanism for protocol violations.
Networking in Lisk involves a decentralized peer-to-peer network, with nodes using WebSockets in the P2P protocol. The RPC and Events layer facilitates node communication, while the application layer ensures a user-friendly interface.
Understanding the Lisk protocol is crucial for developers and blockchain enthusiasts, providing a foundation for secure and efficient decentralized applications. Learning both the big picture and technical details empowers individuals to contribute and innovate within the Lisk community, showcasing the evolving and improving nature of blockchain technology.
#Lisk $LSK #Layer2Transition #Layer2Chains #layer-2