🌟 Rubic as an #Ethereum #Layer2 Network Aggregator 🚀

Ethereum Network’s unbeatable leadership in security and decentralization is proven by its over 50% market dominance by TVL. However, its universal popularity often leads to network congestion and overload during periods of high demand, causing high transaction fees and slow transaction times. 💼💨💲

💡 Layer 2 Explained: ⚙️

Even though Ethereum has transitioned to a #Proof-of-Stake consensus algorithm — which is more energy efficient & provides better scalability — slow transaction times and high fees still remain unresolved. 🔄🌱

To address these issues, the Ethereum community has been exploring and implementing Layer 2 scaling solutions. Some of the most common Layer 2 solutions for Ethereum are State Channels, Sidechains, Plasma, Validium, and our main topic for today, Rollups! 🛡️🌐

🟣 #OptimisticRollups assume transactions are valid by default and only run the computation, via a fraud proof, in the event of a challenge. 🟣

🔵 #Zero-Knowledge Rollups: Run computation off-chain and submit a validity proof to the chain. Explore Zero-Knowledge Rollups here. ZK-Rollups Examples: Loopring, ZKSync, ZKSpace, Aztec, etc. 🔵

🚀 Rubic x Layer 2s 🛠️

The Rubic Protocol supports the most popular Ethereum Layer 2 Rollups to date, including Arbitrum, Boba, Optimism, and Metis. The latter has recently announced its transition to a first-of-its-kind Ethereum Hybrid Rollup: Metis is building the first-ever Hybrid Rollup by combining Optimistic rollup architecture with Zero-knowledge proofs. We have further plans to expand to ZK-rollups such as zkSync, Polygon Hermez, etc. 🌐🛡️

🤝 Why is Rubic perfect in working with L2s? 🚀

Rubic.exchange offers more than 15,500 tokens for Cross-Chain Swaps across Layer 2 networks and other 70+ networks, including such popular non-EVM chains like Bitcoin, Tron, Ripple, Solana, etc., with the best rates, highest liquidity, and transaction speeds — all in one click — thanks to Rubic’s aggregation of 90+ DEXs and bridges. 💱🔗💪

The #Ethereum team has delayed the launch of the #Holesky #testnet and scheduled a new attempt in two weeks.

The initial launch date for the testnet, set for September 15th, coincided with the anniversary of The #Merge, a major upgrade that transitioned the blockchain to a #Proof-of-Stake consensus algorithm.

According to developer Paritosh Jianti, the failure occurred due to an incorrect configuration in the genesis file. Some validators manually made changes and managed to start the chain, but this was insufficient for finalizing the network.

"Apologies for the chaos! We will conduct additional checks and improve the documentation to ensure that such incidents do not recur," wrote Jianti. The new testnet is expected to replace Goerli, which has been operational since 2019. Support for Goerli will cease in early 2024, and Holesky is planned to run until 2028.

Holesky is designed to test staking solutions, evaluate infrastructure, and protocols. Sepolia will continue to be used for testing decentralized applications, smart contracts, and other Ethereum Virtual Machine-related functions.

One significant difference between Holesky and existing testnets will be the significantly larger number of validators, surpassing the main network's figures. Developers believe this will allow for testing solutions under more stringent conditions.

Another notable feature of Holesky is the circulation of 1.6 billion test ETH. In Goerli, there is a limit of 120 million goETH, equivalent to the market supply of the second-largest cryptocurrency. This limitation has occasionally posed issues, increasing the cost of testing applications.

"It is possible to revive the network through a fix, but we decided that it's probably cleaner to start over, given that this will be a new testnet for many years," commented Jianti for CoinDesk.

Holesky is intended to play a crucial role in the planned Ethereum hard fork called Dencun (Cancun-Deneb). According to the developer, the delay in launching the testnet will not affect the update timeline.$ETH

$ALGO

Discover #Algorand With its unique Pure #Proof-of-Stake architecture and instant transaction finality, Algorand stands out in the crypto space. Its integration with Python opens the door to millions of developers worldwide, accelerating growth and adoption. The transition to a #p2p network and the introduction of a consensus incentive system are steps towards greater decentralisation. The ALGO token, at the heart of the Algorand ecosystem, has the potential to gain value with growing adoption and continuous innovation within the project.

🔥The first target is a retest of the Fibonacci level of 0.886, which stands at $3.0. If momentum continues, we could see #ALGO reach the external Fibonacci measurement of 1.618, taking the price to $5.5. And if the project continues to develop as anticipated, we could even see a surge towards the $9 level. Stay tuned for more updates!  🚀🚀🚀
#BullorBear