Layer 2 Ecology Update: OKEx will support Ether L2, how will Coinan and Firecoin with their own public chains pick up the slack?

Ether L2 ecology update: zkSync launches more efficient scaling solution, Celer cooperates with StarkWare, OKEx will support Arbitrum.

Layer 2 Ecology Update: OKEx will support Ether L2, how will Coinan and Firecoin with their own public chains pick up the slack?

The Layer2 ecosystem of Ethernet has been growing at a good pace in April this year, with Polygon being the fastest network to advance cooperation, and many large DeFi protocols on Layer1 have chosen them as a testing ground first.

OKEx, a mainstream cryptocurrency exchange, has announced that they will support the Arbitrum network for top-ups and withdrawals, so which other cryptocurrency exchanges will follow suit and how many more Layer2 networks the exchange will support will directly affect the user experience. This will have a direct impact on the user experience.

If users can go directly from the exchange to the L2 network, transfer money on the L2 network, use the DeFi service, and eventually go back to the exchange to trade with fiat currency, it will be a more complete closed-loop experience, as there is no need to touch the expensive L1.

But a contradiction lies in the fact that mainstream exchanges have fostered their own public chain ecology, so if they directly support the Ethernet L2 network, is it possible that users’ assets will flow back to Ethernet? After all, this would bring down the cost of use for users by at least one to two orders of magnitude, and the security of the ethereum network is more advantageous.

I believe the decision on this matter is not so easy, considering that both Coin and Firecoin have invested a lot in the Ether Layer2 solution, and that the throughput and cost paid by users of the Layer2 network (especially Rollup) may still be inferior to BSC and HECO, and there are still great traffic and competitive advantages for exchange public chains.

However, from the perspective of user experience, we hope all cryptocurrency exchanges will learn from OKEx and put Ether L2 support on the agenda as soon as possible. Let’s review the important developments of each team and ecosystem in the last month.

Optimism: Network Creates Again, ENS Demonstrates MVP

The Optimism network underwent a full Regenesis in April for the beta mainnet, with the team stating that because “it may be risky to keep historical transactions, the best way to do this is to Regenesis the network. The transaction records prior to Regenesis will no longer be retained, and the previous network’s state data will all be deployed to the new Optimism’s Genesis block.

In addition, Uniswap has said that it will release V3 version of Optimism around May 15, but when the L1 version of V3 was released, there was no official mention of any progress on L2, so it is not clear whether the progress of Optimism has affected the L2 deployment plan of Uniswap V3.

Finally, Nick Johnson, their lead developer for ENS, the domain name service for the Ethernet network, demonstrated in a seminar session how to resolve ENS domain names on Optimism as a Minimal Viable Product (MVP), showing a new system for trustless communication between a layer of applications and different layer 2 solutions. The system is based on Vitalik Buterin’s idea of enabling users to store records on L2 to support updates to ENS data without paying Ether Gas, and Nick Johnson said he will continue to develop and build standard versions that support ENS and other projects afterwards.

Arbitrum (Offchain Labs): Supported by mainstream cryptocurrency exchange integrations, open to developers on the mainnet on May 28

OuYi OKEx announced a partnership with Offchain Labs, the research and development team of Arbitrum, an Ethernet scale-up network, to support its users to directly top up and withdraw on the Arbitrum mainnet without interacting with Ether Layer 1, and without Ether Gas fees. Offchain OKEx said the partnership will ease the clogging of the Ether ecosystem and facilitate Ether’s Rollup-focused development program.

Separately, DEX aggregation platform ParaSwap said at the close of its $3 million seed extension round that the team hopes to use the new funding to support other blockchains such as Avalanche, Arbitrum and Fantom, as well as Layer 2 networks such as ZkSync and Optimism.

Arbitrum has finally announced its mainnet, which will open to developers on May 28, and a beta network that will open tomorrow. sequencer has been added to both the Arbitrum mainnet and this beta network, and Offchain Labs says there will be no incentives for first entrants on the mainnet and that it will be open to developers only upfront.

zkSync (Matter Labs): zkPorter, a lower-cost scaling solution, will be launched and some token economics will be made public

Matter Labs made quite a splash in April, not only by debuting the technical details and some of the token economics of zkPorter, but also by getting into a fight with Vitalik Buterin.

zkPorter is a solution with more significant scaling effect than zkSync, TPS can far exceed zkSync, it will go online with zkSync 2.0 at the same time on the Ether mainnet, zkPorter’s account can be directly traded with zkSync’s account, and zkPorter only needs to pay zkSync percent of the transaction fee.

And the compromise made is obvious, degrading Rollup, which takes advantage of data availability on the Ethernet mainchain, to Validium, which is not dependent on Ethernet for data availability, so it makes thousands of transactions and only needs to post one update on Ethernet.

How to ensure data availability is left to zkSync token holders (they call them Guardians, guardians) to guarantee it by signing blocks to confirm the data availability of zkPorter accounts and thus track the state on zkPorter, and guardians use zkSync tokens to participate in PoS proofs. From their perspective, they believe zkPorter is a more secure solution than Optimism.

But shortly after that view was published, Vitalik Buterin pushed back, stating that he “does not believe zkPorter has stronger security guarantees than Optimistic Rollup and would rather have assets in Optimistic Rollup than in an off-chain data availability system. The security level of zkPorter off-chain data availability is lower than that of the underlying chain, and there is no tight coupling. On the other hand, the data availability layer in the slice will be protected by the entire Ethernet network and will be tightly coupled. It would be possible for some applications to also use off-chain data availability, but only if the off-chain data is explicitly a temporary measure until the slice based data availability is available, but I don’t think this is necessary.

Later, in a Layer2 offline event (“Interview with Vitalik Buterin: A brief overview of the differences and trade-offs between Rollup and other Ethernet Layer 2 solutions” https://www.chainnews.com/articles/112624561001.htm) In his opinion, the Turing-complete zero-knowledge proof system provided by zkSync 2.0 is still very early and may have many unknown vulnerabilities and risks, so he suggests developers can prefer the Optimistic Rollup solution, but he also thinks ZK Rollup will be a more perfect solution in the future. will be a more perfect solution in the future, probably in a few years.

StarkNet (StarkWare): trading volume exceeds $1 billion, NFT exchange version is now live

The total volume of the three decentralized exchanges (dYdX, DeversiFi, Immutable) powered by StarkNet’s exchange scale-up version, StarkEx, has surpassed $1 billion, with about 75% of the volume traded via the StarkEx Rollup method (dYdX) and 25% via the StarkEx Validium method (DeversiFi and Immutable).

Meanwhile, the StarkEx-powered Immutable X trading marketplace, which focuses on NFT trading, has released its Alpha version, starting with support for players of the blockchain card game Gods Unchained to trade “Trial of the Gods” decks, with other projects to follow.

Loopring: Smart Wallet for iOS Goes Live, Launches Bridge Ethport

The Loopring protocol has announced the launch of Ethport, a bridge product across Layer 1, Layer 2 and CEX, which will be available in the May release of Loopring 3.7. Specifically, Ethport enables Loopring ZK Rollup users to interact directly with Layer 1 DApps from Layer 2 at low cost through batch processing and zero-knowledge proof capabilities; supports cross-Layer 2 transfers; and CEX can use the standard Layer 1 interface to withdraw directly to Loopring ZK Rollup can use the standard Layer 1 interface to withdraw money directly to Loopring ZK Rollup, while still saving Layer 2 costs.

Another product line from Roadmark, the Smart Contract Wallet, is finally available for iOS, offering features such as social recovery, no fear of losing keys, daily limits and whitelisting.

Polygon: Another batch of DeFi protocol support, launches $100 million DeFi fund

Side-chain network Polygon (formerly Matic Network) also continues to push forward with various projects, protocols, and tools, such as

DeFi aggregation platform Instadapp

PlotX, a decentralized prediction marketplace protocol

Stable coin aggregation protocol mStable

DeBank, a wallet and data tool

Stablecoin exchange Curve

On-chain derivatives protocol Opium

Ether Push Service EPNS

DeFi platform Stake DAO

and more.

In addition, Polygon plans to launch a $100 million DeFi fund, the DefiForAll Fund, which will support DeFi projects over the next two to three years to increase DeFi adoption, accessibility and cost effectiveness.

Connext: Launches Microtransaction Solution Scalar in Partnership with The Graph

Stateful channels are great for micropayments, so Connext and The Graph Foundation, a blockchain data indexing project, announced the launch of Scalar, a scalable microtransaction solution that can quickly charge lower GRT query fees across The Graph network. scalar is based on Connext’s instant Layer 2 transfer built on the application Vector and uses state channels to aggregate and compress transactions before finalization on the chain. the Graph network will use Scalar to handle all query transactions between indexers and consumers.

Scalar is being developed in partnership with Connext, The Graph Foundation and Edge & Node. The Graph says its hosted service exceeded 14 billion queries in February and 19 billion in March, an increase of more than 100x since January 2020.

Celer: First version of Layer2.finance goes live on the mainnet in partnership with StarkWare

Following the launch of the Layer2.finance solution, Celer also announced a partnership with StarkWare, a zero-knowledge proof research organization, to develop a zero-knowledge proof-based ZK Rollup version of Layer2.finance using StarkWare’s Cairo programming language.

In addition, they are also exploring consensus on L2, where StarkWare will use its StarkNet network and Celer’s State Guardian Network as the decentralized operating layer for a ZK Rollup version of Layer2.finance, which is planned for launch as soon as later this summer.

The first mainnet version (v0.1) of Layer2.Finance is also now live, with the first supported DeFi protocols being Compound, AAVE and Curve. Finance, SushiSwap, Uniswap, BarnBridge, and 1Inch.

Aztec: Anonymous Rollup Network Adds Support for DAI

Aztec announced that its privacy Rollup service zk.money now supports DAI transactions, allowing users to encrypt (shield) and transfer zkDAI.

Hermez: Airdrop in Progress

Hermez has launched its first airdrop program, an airdrop of HEZ tokens for donors to its ninth round of Gitcoin, which will award a total of 10 HEZ for each of more than 12,000 accounts that donate more than $1 in Gitcoin’s ninth round, supported only by the MetaMask wallet. Hermez says it will follow Hermez said that other types of airdrops will follow.

Alternative L2 Solution: NEAR’s EVM-compatible chain Aurora is now live

In addition to the typical L2 solutions, there are some alternative sidechains or L2 solutions that are worth watching.

Open network NEAR Protocol, for example, has announced the launch of its EVM solution Aurora, which can provide a holistic solution for developers seeking to expand their own ethereum DApp applications to reach other markets.

Running on NEAR, which leverages many of NEAR’s unique features, such as sharding and developer gas fee rewards, Aurora includes two core building blocks: the Aurora engine runtime, which developers can use to seamlessly deploy Solidity and Vyper smart contracts; and the Aurora bridge, built on Rainbow Bridge technology, which provides a license-free way to deploy on Ether DApps. Aurora Bridge, built on the Rainbow Bridge technology, provides license-free pass transfer and data transfer services between Ether and Aurora.

The NEAR team says Aurora addresses the current and future computational and storage challenges facing the Ethernet ecosystem, while reusing and saving developers’ engineering investments in smart contracts and front-end code.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/layer-2-ecology-update-okex-will-support-ether-l2-how-will-coinan-and-firecoin-with-their-own-public-chains-pick-up-the-slack/
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