Entering the hottest track, how does Layer N, the second-layer Ethereum project, stand out?

In today’s digital era, blockchain technology has become a hot spot for technological innovation due to its unique decentralization characteristics and security. Especially Ethereum, as the world's leading smart contract platform, its network continues to face challenges of scalability and high transaction fees. Against this background, Layer N, as a revolutionary second-layer solution for Ethereum, is not only committed to solving these challenges, but also promotes the evolution of the entire blockchain network towards higher efficiency and scalability. On June 23, Layer N launched its test network V1.2. This new milestone heralds a dual improvement in its technology maturity and market acceptance. Layer N came into being to solve the problems of network congestion and high transaction fees caused by the dramatic 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 technical iteration and version update:

The following focuses on the technical iteration of the project.

Phased launch of the test network: Layer N’s test network contains three important stages, each stage is specially optimized and adjusted for different technical implementations.

The first phase launch of NordVM is 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 with enhanced compatibility with the Ethereum mainnet.
The third stage is the integration of StateNet, a unified communications layer that supports efficient cross-chain communication and data sharing.

Innovation of StateNet: 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 independent XVM nodes to continuously communicate point-to-point, greatly reducing transaction and message delays.

Continuous technology upgrades: With the launch of Testnet V1.2, Layer N further strengthens the platform it provides for developers and users to test functionality and performance. This release 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 the financing and specific functions of Layer N:

Financing and market expansion:

September 2023 Financing: Layer N completed US$5 million in financing, jointly led by Founders Fund and dao5, with additional investment participation Including SALT, Kraken Ventures, Mirana Ventures, GSR and Amber Group, etc. This round of funding is intended to promote the deployment of public testnets and the development of the Nord Rollup network to strengthen 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.

2024 Liquidity Support: Amber Group has committed $20 million in support to Layer N’s liquidity program to help early stage protocols enter the market, which is focused 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 are introduced to enhance the security of the network.
Performance improvement: Through self-developed optimization algorithms and protocols, Layer N has significantly improved the performance and reliability of the network, especially under high load conditions.

Meet the challenges of the future:

Layer N continues to innovate in technology and explore cutting-edge technologies such as zero-knowledge proofs to cope with future market demands 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’s testnet V1.2 version overview:

Layer N’s testnet V1.2 version brings a number of core features and innovations. These updates provide new opportunities for the advancement of Ethereum’s second-layer solutions. power. The following are the main functions and technological innovations of the V1.2 version:

Performance improvement: The V1.2 version 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.
Security enhancement: Stricter security protocols and encryption technology 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:

1. integrates the latest blockchain technology, such as improved smart contract functionality and advanced verification mechanisms.
2. Enhanced Layer N’s ability to handle more complex transactions and provide more flexible application scenarios.

Conclusion: Layer N may play an important role in the commercial trajectory of blockchain

The release of Layer N testnet V1.2 marks the following progress:

• Continuous progress in technological innovation.
• Provides a more stable and efficient testing environment for the blockchain community.
• Developers can deeply test and optimize their applications before actual deployment.

With the implementation of functions and improvement in performance, Layer N has demonstrated its important role and potential in the global blockchain ecosystem.

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