Backed by Founders Fund, the new Ethereum Layer 2 network showcases a leap in blockchain performance ahead of its public testnet.
In the rapidly evolving world of blockchain technology, a new player is making waves with its impressive performance metrics. Layer N, a Layer 2 network built on top of the Ethereum blockchain, has recently achieved a remarkable feat in its testing phase. Backed by the prestigious Founders Fund, Layer N has reached a peak of 120,000 transactions per second (TPS) during its closed testnet evaluations.
The Layer N network, with its proprietary Nord Engine, is designed to cater to the high demands of trading activity on decentralized exchanges. In its testing, not only did it hit the peak of 120K TPS, but it also managed to sustain a rate of 20,000 TPS. These numbers are significant when compared to the Ethereum mainnet, which handles around 30 TPS. The potential for scalability here is clear, indicating a promising future for decentralized finance (DeFi) applications that require high throughput.
The excitement around Layer N is building as the public testnet is scheduled for launch in February. This will be an opportunity for users and developers to experience the network's capabilities firsthand. The public testnet will serve as a critical phase for Layer N to demonstrate its robustness and reliability under a broader range of conditions and usage scenarios.
The advancements that Layer N is bringing to the table could have significant implications for the DeFi ecosystem. With the ability to handle a massive number of transactions efficiently, Layer N could pave the way for more complex and high-frequency trading strategies, which are currently limited by the transactional throughput of existing blockchain infrastructures.
For developers and participants in the DeFi space, the development of Layer N is a development to watch closely. Its high-performance capabilities could open up new possibilities for DeFi applications, making them more competitive with traditional financial systems. As the public testnet approaches, it will be crucial to monitor how Layer N integrates with existing protocols and how it is adopted by the blockchain community.