Značka: Scaling

Coinbase exec says major Ethereum scaling improvements coming soon

Coinbase Chief Product Officer Surojit Chatterjee is the latest to publish his predictions for the crypto industry in 2022 and he foresees major advances in the scaling of Ethereum.Industry leaders, analysts, and investors are sharing their 2022 predictions for the crypto ecosystem, and Coinbase’s Surojit Chatterjee is confident that Ethereum will be at the forefront of Web3 and the crypto-economy as it scales. The CPO shared his predictions in a company blog post on Jan. 4 in which he stated that Ethereum scalability will improve but alternative layer 1 networks will also see traction.“I am optimistic about improvements in Eth scalability with the emergence of Eth2 and many L2 rollups.”He added that newer layer 1 networks focused on gaming and social media will also emerge. Chatterjee predicts that scalability will be vastly improved by advances in layer 1 to layer 2 bridges, adding that the industry will “desperately seek improvements in speed and usability of cross-L1 and L1-L2 bridges.”These bridges enable tokens to be moved from a layer 1 network such as Ethereum to a layer 2 network such as Arbitrum and vice versa.Referring to scaling technologies, the CPO specifically mentioned ZK-rollups stating that they will “attract both investor and user attention.” Zero-Knowledge scaling “rolls up” transactions data in batches for more efficient processing on Ethereum’s layer 1.Firms such as Matter Labs have advanced in leaps and bounds in 2021 with the development and deployment of their rollup-based zkSync layer 2 platform. The layer 2 ecosystem has undergone massive expansion in 2021 with a surge in adoption for all major platforms. According to L2beat, which tracks the L2 ecosystem, the total value locked surged by nearly 11,000% over the past year from around $50 million in January 2021 to $5.5 billion by the end of the year.Related: Even with Ethereum 2.0 underway, L2 scaling is still key to DeFi’s futureChatterjee predicted that there will be more privacy-focused applications emerging but this could attract more regulatory attention as more KYC/AML (know your customer/anti-money laundering) restrictions are enforced.“We’ll see new privacy-centric use cases emerge, including privacy-safe applications, and gaming models that have privacy built into the core.”Other predictions he made include more regulation industry-wide, larger institutional participation in DeFi, the emergence of more DeFi insurance, greater brand involvement in Metaverse and NFTs, and Web2 companies scrambling to get into Web3.

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Opera to integrate with Polygon, opening dApp ecosystem to 80M users

On Wednesday, Opera, an internet browser with Web 3.0 application support and a built-in crypto wallet, announced an upcoming integration with Polygon (MATIC). The integration, which is scheduled to go live in the first quarter of 2022, will first open Polygon’s ecosystem to Opera’s over 80 million users on the Android mobile, then to the rest on other devices and platforms. Polygon is a layer two Ethereum (ETH) scaling solution designed for lower gas fees and faster transaction times.Through the integration, Opera users will be able to access Polygon decentralized applications, or dApps, such as Sushiswap, Curve, and Aave, as well as blockchain games and nonfungible tokens platforms such as Decentraland, Opensea, and Sandbox.Jorgen Arnese, executive vice president of Opera Mobile, said the new integration will help “remove the biggest challenge that crypto enthusiasts” face — namely, high gas fees and slow transaction speeds.Arjun Kalsy, vice president of growth at Polygon, added: “With this integration, Opera’s hundreds of millions monthly active users will be able to experience Polygon’s thriving dApp ecosystem and best in class Web 3.0 technology.”Related: Brave to integrate with Solana blockchain on its privacy-enabled browserEthereum scaling solutions such as Polygon have become vital in recent years as the network can only handle about 15 transactions per second. In times of peak network activity, like when celebrities try to drop over 10,000 NFTs all at once, gas prices can soar to absurd amounts. Fees are even higher in decentralized finance protocols such as peer-to-peer borrowing and lending, where multiple smart contract confirmations are required for loan origination.

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Assembly announces $100M capital raise, receives praise from IOTA co-founder Dominik Schiener

On Friday, Assembly, a decentralized layer one smart contract network built within the IOTA ecosystem, announced it had raised $100 million from private investors, including LD Capital, HyperChain Capital assembly, and Huobi Ventures. The project stated that the funds will be used to accelerate the development of decentralized finance protocols, nonfungible tokens, and play-to-earn crypto games.IOTA is a blockchain designed for facilitating internet-of-things transactions. Its proprietary technology consists of a system of decentralized acyclic graphs that can connect to one another in multiple vectors as opposed to in-series as with a regular blockchain. As a result, one new block can validate two other blocks, leading to self-sustainable transaction verification. This allegedly leads to the complete elimination of transaction fees and minimal energy cost.The Assembly mainnet is currently scheduled to launch in early 2022 with a large community focus. 70% of its native ASMB tokens are reserved for developer incentives, community-governed decentralized autonomous organizations, and grant programs.Meet $ASMB, a token to fuel innovation and growth. The vast majority of tokens are designated to ignite #Assembly’s ecosystem growth and to reward the @iota community. Visit: https://t.co/ULLTR84ZKN pic.twitter.com/fycCeywW94— Assembly (@assembly_net) December 9, 2021In a statement to Cointelegraph, Dominik Schiener, co-founder and chairman of the IOTA Foundation, claimed that there are too many Ethereum Virtual Machine, or EVM, blockchains stating:“Ultimately, all of them will face the same problems with fees, scalability, and interoperability. Most of them will fail in the long term as they offer nothing unique.”When asked about the uniqueness of the Assembly blockchain, Scheiner feels that it all comes down to flexibility:“Each smart contract chain can be fully customized to the project’s needs. In addition, Assembly is already fully EVM-compatible, and has support for WASM [WebAssembly], plus Go, Rust and TypeScript as optional smart contract languages.”Billionaire investor Stelian Balta, founder of HyperChain Capital, said:We always needed a feeless, highly scalable network for developers to build highly scalable apps in the crypto ecosystem. Assembly does that. They have been pioneers in the crypto ecosystem since 2015, and we are confident in their experience and their vision for the next decade.

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