Original author: DeMan
Original source: PANews
In today's digital age, blockchain technology has become a hot spot for technological innovation due to its unique decentralized characteristics and security. In particular, Ethereum, as the world's leading smart contract platform, its network continues to face challenges in scalability and high transaction fees.
In this context, Layer N, as a revolutionary second-layer solution for Ethereum, is not only committed to solving these challenges, but also driving the evolution of the entire blockchain network towards higher efficiency and scalability. On June 23, Layer N launched its testnet V1.2 version. This new milestone event heralds the dual improvement of its technical maturity and market acceptance.
Layer N was created to solve the problems of network congestion and high transaction fees caused by the rapid increase in the number of users on the Ethereum network. The core mission of Layer N is to improve the scalability and efficiency of the network while optimizing the user experience, especially in terms of transaction speed and cost.
Layer N technology iteration and version update:
The following focuses on the technical iteration of the project.
Phased launch of the testnet: Layer N's testnet consists of three important phases, each of which is specifically optimized and adjusted for different technical implementations. The first phase launched NordVM, the first XVM implementation on Layer N, providing ultra-low latency and high-throughput transaction processing. The second phase launched NEVM, a public Ethereum Virtual Machine (EVM) chain that enhances compatibility with the Ethereum mainnet. The third phase integrates StateNet, a unified communication layer that supports efficient cross-chain communication and data sharing.
StateNet innovation: As one of the core technologies of Layer N, StateNet implements a highly scalable network that can handle large-scale node interactions without sacrificing security and stability. This system allows each independent XVM node to continuously communicate point-to-point, greatly reducing transaction and message latency.
Continuous Technology Upgrades: With the launch of Testnet V1.2, Layer N further strengthens its platform for developers and users to test functionality and performance. This version marks an important step for Layer N in improving the scalability and efficiency of blockchain networks, and also reflects its continuous efforts in blockchain technology innovation.
Introduction to Layer N’s financing and specific functions:
Financing and market expansion:
Financing in September 2023: Layer N completed a $5 million financing, led by Founders Fund and dao5, with participation from SALT, Kraken Ventures, Mirana Ventures, GSR and Amber Group. This round of funding is intended to promote the deployment of public test networks and the development of the Nord Rollup network to enhance its financial applications and on-chain transaction processing capabilities.
Strategic investment expansion: In November 2023, Layer N received strategic investment from BlackPine, marking its official entry into the Asian market and expanding the availability of native Web3 products.
Liquidity Support in 2024: Amber Group has pledged $20 million in support to Layer N’s liquidity program to help early-stage protocols enter the market, which focuses on leveraging the StateNet architecture to drive innovation and compete with traditional financial institutions.
Function expansion and innovation:
Security enhancement: Advanced encryption technology and smart contract audit mechanism have been introduced to enhance the security of the network.
Performance improvement: Through self-developed optimization algorithms and protocols, Layer N significantly improves network performance and reliability, especially under high load conditions.
Meeting future challenges:
Layer N continues to innovate in technology and explore cutting-edge technologies such as zero-knowledge proof to meet future market needs and technical challenges. On this basis, the project needs to strengthen the developer community, provide more development tools and support, and promote the prosperity and development of the ecosystem.
Layer N testnet V1.2 version overview:
Layer N's testnet version V1.2 brings a number of core features and innovations, which provide new impetus for the advancement of Ethereum's second-layer solutions. The following are the main features and technical innovations of the V1.2 version:
Performance improvement: Version V1.2 significantly improves network performance by optimizing the data processing process, reduces transaction confirmation time, and enhances the processing speed and efficiency of the entire network.
Enhanced security: More stringent security protocols and encryption technologies have been introduced to ensure that all transactions conducted on Layer N meet the highest security standards.
Experience improvement: The user interface design has been improved to provide a more intuitive and friendly user operation experience, making it easier for developers and users to access and use the network.
Technological innovation: V1.2 integrates the latest blockchain technologies, such as improved smart contract functions and advanced verification mechanisms, enabling Layer N to not only handle more complex transactions but also provide more flexible application scenarios.
Conclusion: Layer N may play an important role in the commercialization of blockchain
The release of Layer N Testnet V1.2 not only marks the continuous progress of technological innovation, but also provides a more stable and efficient testing environment for the blockchain community. Through this platform, developers can deeply test and optimize their applications before actual deployment, which is of great significance to accelerate the commercial application and popularization of blockchain technology. With more functions implemented and performance improved, Layer N is gradually showing its important role and potential in the global blockchain ecosystem.
