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Matter Labs, the team behind the Ethereum layer two (L2) scaling protocol Zksync, revealed the developers plan to launch a layer three (L3) proof of concept called “Opportunity” in the first quarter of 2023. The team says that the prototype of L3 will be built on top of L2 and
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Matter Labs pitches zkSync V2 as the “first” network of its kind to launch on Ethereum, but its competitors aren’t buying the hype. Source
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The company continues to be targeting the mainnet going live sometime in early 2023. Source
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The threat was found in the way transactions are submitted and processed on the network, through a tool known as a bridge, which allows users to transfer tokens between different blockchains. Attacks on bridges have become one of the biggest security threats in crypto, accounting for almost $1 billion stolen
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Scalability problems have plagued Ethereum, the second-largest blockchain network in the world, for some time now. The proof-of-work model’s inability to scale demonstrates that blockchains implementing this consensus process are limited to transaction throughput rates of a single digit. It is evident to any developer who has attempted to create a
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On August 4, Arbitrum One, the layer two (L2) Ethereum scaling solution, announced the protocol will implement a significant upgrade called Nitro in 25 days. The highly anticipated Nitro migration will take place on August 31, exactly one year after Offchain Labs, the Arbitrum project maintainers, launched the Arbitrum One
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Decentralized layer 2 solutions like Immutable X enable faster, cheaper, and more energy-efficient transactions than the Ethereum mainnet. As per developer documents, Immutable can process over 9,000 transactions per second (tps), while the Ethereum network averages 10.54 tps as of Thursday morning. Source
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Currently, so-called "monolithic" blockchains, such as Ethereum, can not scale as there are too many tasks to perform (execution, settlement, and data availability). Scaling products, such as Avail, focus on just one part of the application requests at a time to speed up transactions. Source
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Compared to sidechains, Layer 2 rollups are considered by many developers to be the more secure way for Ethereum to scale. Rollups, like sidechains, take the stress off of Ethereum by executing transactions on a separate blockchain. Transactions are “settled” on the rollup chain, bundled up, and then “posted” to
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Ethereum layer-2 scaling solution Optimism has been overwhelmed with “all-time high demand” following the launch of its highly anticipated airdrop on Wednesday. Users racing to collect their tokens were greeted with failed or delayed transactions as the Optimism team raced in the background to add additional capacity to the network. As
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