Tuesday, November 28, 2023

Ethereum’s Layer-2 Enlargement, Rise of Zero-Information Cryptography, and Bitcoin’s New Frontier in Tokenization, Good Contracts, and File Internet hosting



LAYER 2’S EVERYWHERE: In final week’s The Protocol, we devoted a not-inconsiderable amount of ink to the fast-growing list of new “layer 2” blockchains aiming to supply a venue for quick and speedy transactions atop Ethereum. Seize one other nicely, trigger there’s been loads extra bulletins already this week. Essentially the most notable was inarguably Tuesday’s disclosure by the crypto alternate OKX that it plans to build a layer 2 utilizing Polygon’s expertise. Wednesday introduced the information of Kinto, which has raised $5 million this yr to develop a layer-2 network that is absolutely compliant with anti-money-laundering legal guidelines utilizing Optimism’s OP Stack, and Redstone, an “alternative data availability” chain designed by the Lattice workforce for OP Stack. There are nagging questions on simply who’s going to make use of all these networks, however builders recommend there’s nonetheless not sufficient. “We will want a variety of L2s,” Ryan Wyatt, who was simply hired by a unit of the Optimism Basis as chief development officer after leaving Polygon Labs a number of months in the past, advised CoinDesk TV this week. “One chain, a mainnet, will not be going to do it.” Even Cardano founder Charles Hoskinson tried to elbow into the combo, posting Sunday on X (previously Twitter) that “I am recreation in case you are” – attaching a hyperlink to CoinDesk’s article final week about Kraken’s discussions with potential layer-2 expertise companions together with Polygon, Matter Labs and Nil Basis – and tagging Kraken Chairman Jesse Powell. One snarky poster replied, “If that is how we reaching out, more than likely not occurring.”

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