Trillion expansion needs Layer3 Ethereum cross-chain expansion solution officially launched on May 15

Ethereum is currently one of the most popular smart contract platforms, and the Ethereum ecosystem is very large and diverse. In the Ethereum ecosystem, there are many different types of applications, including decentralized finance (DeFi), games, marketplaces, identity verification, and more.

By the end of 2022, decentralized finance (DeFi) applications in the Ethereum ecosystem have become one of the most popular applications. These applications include decentralized exchanges (DEX), lending protocols, stablecoins, and insurance, including the familiar Uniswap, Compound, Aave, and MakerDAO.

Gaming applications in the Ethereum ecosystem are also growing. These games are usually built on blockchain technology, which allows players to truly own in-game items and assets, which can be exchanged and transferred between different games. In addition, there are many other types of applications in the Ethereum ecosystem, such as marketplace applications (such as OpenSea and Rarible), authentication applications (such as uPort and Civic), and social networking applications (such as Minds and Peepeth), etc.

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With the continuous advancement and development of technology and the continuous growth of the number of users, the expansion of the Ethereum network has become a hot topic. The Ethereum network processes more than 1 million transactions per day. This number is still growing and is expected to continue to rise in the coming years. This means that the Ethereum network needs higher throughput and better scalability to meet growing user demand. Layer3 is a blockchain compatible with Ethereum and all Ethereum tools to interact with Ethereum. Any Ethereum user or contract can deposit ETH or other tokens in Layer3, and withdraw funds from L3 back to Ethereum at any time. Contracts on Layer 3 run in exactly the same way as Ethereum, and anyone can start a brand new Layer 3, so Ethereum developers can easily cross-compile contracts and run them on L3, enjoying faster and lower cost Ethereum Serve. The Layer3 Ethereum cross-chain expansion solution will be officially launched at 02:00 UTC on May 15, 2023.

Layer3 Ethereum cross-chain expansion solution is committed to improving the throughput and scalability of the Ethereum network. The core idea of ​​Layer3 expansion is to separate transaction data from the Ethereum main chain, and then store it on an independent L3 public chain. This independent chain can use different consensus mechanisms and blockchain technologies to meet different needs. By separating transaction data from the main chain, Layer 3 can significantly increase the throughput of the Ethereum network. Because only the work of verifying transactions needs to be processed on the main chain, and transaction data can be processed on an independent chain. This can reduce the burden on the main chain, thereby increasing the processing capacity of the entire network.

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In addition to improving the efficiency of the Ethereum network, Layer 3 can also improve the scalability of the Ethereum network. The independent chain can be upgraded and optimized as needed without affecting the normal operation of the main chain, making the Ethereum network more flexible to adapt to different needs and application scenarios. Layer3 is an expansion solution that is fully compatible with Ethereum, and has the characteristics of scalability, speed, privacy and security.

The L3 public chain was developed by Curtiss Williams, the father of AI-Cross-Chain (AICC), and jointly developed by the academic research project team of Princeton University. Blockchain problems such as transaction delay, cross-chain transaction atomicity, sybil attack initiated during cross-chain transactions, and target chain dead cycle in cross-chain transactions, create an information infrastructure that integrates computing, storage, bandwidth, and AI to form the core of the digital world base. In terms of token economy, the Layer3 platform token L3 will be issued with a total of 10 million pieces, which will be mainly used for ecological consumption such as Layer3 ecological applications and Gas fees.

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Layer3 is currently promoting the L3 wallet, which integrates multiple functions of digital currency storage, currency transactions, Layer3 liquidity pool transaction exchange, blockchain transaction information query and liquidity mining, creating a safe, stable, convenient and practical digital wallet for users Asset management tools. In the future, the L3 wallet will launch more functions dedicated to blockchain technology.

The potential of the Ethereum network expansion market is very large, which is related to the future development of the Ethereum ecosystem. The Layer3 Ethereum cross-chain expansion solution will be more widely used and promoted in the future.