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Ethereum’s Layer-2 Enlargement, Rise of Zero-Data Cryptography, and Bitcoin’s New Frontier in Tokenization, Good Contracts, and File Internet hosting

LAYER 2’S EVERYWHERE: In final week’s The Protocol, we devoted a not-inconsiderable amount of ink to the fast-growing listing of latest “layer 2” blockchains aiming to offer a venue for quick and speedy transactions atop Ethereum. Seize one other effectively, trigger there’s been loads extra bulletins already this week. Essentially the most notable was inarguably Tuesday’s disclosure by the crypto alternate OKX that it plans to construct a layer 2 utilizing Polygon’s know-how. Wednesday introduced the information of Kinto, which has raised $5 million this yr to develop a layer-2 community that is totally compliant with anti-money-laundering legal guidelines utilizing Optimism’s OP Stack, and Redstone, an “various information availability” chain designed by the Lattice workforce for OP Stack. There are nagging questions on simply who’s going to make use of all these networks, however builders recommend there’s nonetheless not sufficient. “We’ll want a whole lot of L2s,” Ryan Wyatt, who was simply employed by a unit of the Optimism Basis as chief progress officer after leaving Polygon Labs a number of months in the past, advised CoinDesk TV this week. “One chain, a mainnet, will not be going to do it.” Even Cardano founder Charles Hoskinson tried to elbow into the combo, posting Sunday on X (previously Twitter) that “I am recreation if you’re” – attaching a hyperlink to CoinDesk’s article final week about Kraken’s discussions with potential layer-2 know-how companions together with Polygon, Matter Labs and Nil Basis – and tagging Kraken Chairman Jesse Powell. One snarky poster replied, “If that is how we reaching out, almost certainly not taking place.”

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