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.
