Ethereum is congested and handling fees hit a record high, so the Layer 2 project is on fire
Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc), Author: Five Fireball Leader, reprinted by Odaily with authorization.
Editor's Note: This article comes from
Vernacular Blockchain (ID: hellobtc)
Liquidity mining, Author: Five Fireball Leader, reprinted by Odaily with authorization.
In recent days, ETH can no longer be described as congestion, but "very congested"!
Some time ago, the popularity of Uniswap, which was very popular some time ago, has dropped slightly. It’s not that no one plays it anymore. The main reason is that the gas fee is too high. Buying any coin just costs fifty or sixty yuan in RMB, and it costs one time to buy it. When it comes to Approve (the first token transaction needs to be confirmed), it takes one time, and it takes another time to sell it. After three times, the handling fee is 200 first. If you are impatient or afraid that the price will change too quickly and you need to speed up, you have to spend another two to three hundred . GAS burns hundreds of dollars, and it is not worthwhile for you to buy coins without spending thousands of dollars.Liquidity miningThis phenomenon has aroused renewed attention to Layer 2 in the circle. After all, before the completion of ETH2.0, Layer 2 can almost be regarded as the only solution. There are other high-speed chains, but under the premise that the vast majority of high-quality assets and ecology are gathered in Ethereum, Layer 2 has become the only solution at present. Coupled with Reddit’s recent popular community points blockchain expansion contest, many Layer 2 projects have submitted solutions one after another. In this way, the investment in the Layer 2 track in the second half of the year has become indispensable for everyone’s position ratio a part of.
Raiden Network
"Introduced several mainstream technologies of Layer 2 from a technical point of view. This article introduces the fundamentals and current status of several current mainstream Layer 2 projects from the perspective of various projects.
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This should be the earliest Layer 2 project on Ethereum, Bitcoin has Lightning Network, Ethereum has
Raiden Network.
The Raiden Network uses a technical framework similar to that of the Lightning Network, payment channels, putting transactions off-chain, and finally on-chain for liquidation.
When Raiden first released the project, it was questioned by the industry. The reason is very simple. The Lightning Network on Bitcoin did not issue coins separately. As the Raiden Network on Ethereum, it uses the same channel technology. Why do you want to issue coins? To make matters worse, God V also personally dissed the project at that time.
Celer Network
However, with the maturity of a series of mechanisms and technologies such as on-chain governance and PoS, everyone has gradually accepted the issue of coins for a project to achieve more complex functions and governance, and no one will take this as an issue anymore. Raiden also survived tenaciously. At the end of 2018, the first version of Red Eyes was launched on the mainnet. Two months ago, the second version of Alderaan was launched on the mainnet. Many new functions have been implemented, including monitoring services, path discovery services, and intermediaries. wait. Last year, a Raiden Trust ecological subsidy program was launched to encourage Raiden-based research, improvement, and ecological gadgets, etc. The overall project is as calm as the project itself.
All in all, as a layer 2 of pure channel technology, it is difficult to stand out from the crowd of Layer 2 projects in the environment where channels may become the standard protocol stack of Ethereum in the future. In addition, channel technology basically does not allow any Execute smart contract transactions, so it is difficult to support DeFi, DApp and games. It can only fluctuate with the popularity of Layer 2 itself. The number of channels on Raiden was only a few dozen accounts and dozens of channels last month. To put it bluntly That is: no one uses it.
But I want to complain about V God’s poisonous milk here. Raiden also had a Layer 2 project called Liquidity Network as a channel at the same time. Technically, it is similar to Raiden, except that Raiden's channel is 1-to-1, and LQD is a more optimized 1-to-N. At that time, V God dissed Raiden, turned around and praised LQD. And now Raiden is still alive and well, LQD is a big firm that has not been listed, and its market value has fallen by less than 1 million. Even this wave of Layer 2 has not attracted any attention. The article can only appear as a supporting role in the introduction of Radien at the end of...
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The blockbuster Layer 2 project in 2018 was called an "aircraft carrier" by people in the circle at the time, and Binance 1EO was launched. I never thought that after the launch, the currency price and popularity would be all the way to Waterloo. For a long time, the app used for testing was an on-chain backgammon app, so it was nicknamed "backgammon" by insiders.
Celer, like Radien, also took advantage of this wave of Layer 2 heat to become popular again.
From a technical point of view, Celer's generalized state channel itself is more complicated than Lightning Network and Raiden Network. There is also a role of guardian in the network. Secondly, Celer also joined the side chain technology of hybrid PoS-Rollup this year. , the channel is grasped with both hands, both hands must be hard.
Matic
In terms of the market, Celer has cooperated with the Web3 Foundation to transplant the state channel to Polkadot's development environment, so Celer is now considered a half-polkadot ecological project.
Celer’s mainnet was launched last year. The mainnet was upgraded in May this year, and the number of nodes has increased on a large scale. This month, the Beta testnet of the State Guardian Network (SGN) was launched.NFTLike Raiden, Celer's main technical status channel is no longer a new or optimal solution in the current blockchain expansion solution. I believe Celer will focus more on POS Rollup in the next few months. In terms of side chain technology, it remains to be seen how effective it will be at that time.
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People in the circle call it horseshoe. At that time, Binance 1EO was first launched, and it once skyrocketed dozens of times, and it was called a demon coin.
With the Layer 2 of the game ecology, Matic basically belongs to the monopoly position through various cooperation.
OMG
In addition to Matic’s dozens of times of skyrocketing last year, which attracted countless eyeballs, various cooperation with other projects is also non-stop. The latest heavy cooperation is the announcement of the cooperation with WazirX, an Indian trading platform acquired by Binance. Automated Market Maker (AMM) protocol, which plans to launch its first testnet in September.
Among the 22 expansion plans solicited by Reddit, judging from the indicators of current Reddit forum users using points to like posts - Solana (397 points), OMG Network (356 points), Matic (246 points), Minter Network (226 points ), StarkWave (150 credits). Matic is in third place, which is a good place. Of course, this is at best a poll on rediit, and which plan to choose in the end has little to do with this poll.
A friend works in enterprise blockchain. Their team forked all the Layer 2 projects on the market because of the need for a solution, and then ran around. In the end, only two really worked and the experience was OK. One Matic, one OMG.
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The famous "Nenmo Coin" in 2017, one coin and one tender model came out of OMG, the first project of V God's "platform" (the second is KNC).
Then there is what everyone is familiar with—going to coinbase, followed by the release of the beta version of the main network, and the market value has become the leader of Layer 2, and together with Matic, it has carried the banner of Plasma.
LRC
And later - the Reddit Ethereum expansion proposal, OMG became the most popular Ethereum project (the first Solana is a separate public chain).
Two days ago, Tether officially issued USDT on OMG! This is a big deal! You must know that before USDT was issued on the public chain, BTC, ETH, EOS, TRX. OMG has become the only Ethereum Layer 2 project that enjoys USDT issuance.
OMG's performance in 2020 is really O! M! G! (Oh MY God!) (At the time of posting, the price has risen by 100%, pay attention to risks)
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The only purely domestic project (Celer is regarded as a Chinese project in Silicon Valley), it was in full swing in 2017, and was praised by various parties, known as domestic 0x.
Later, after the 18-year bear market, it also fell into a slump, until 2020, it rose like a rocket like OMG.
I can’t remember how many times V God called Loopring on his Twitter. The general meaning is that before ETH2.0, the best expansion solution for Layer 2 is Rollup, and Loopring’s Dex is currently the only one. Landed Zk-rollup scale application.
However, in addition to V God's spare no effort to call for orders, LRC has two things to look forward to.
summary
One is the smart wallet. Loopring launched Loopring Pay 2 months ago (transfer to ETH or ERC20, the account will be credited in seconds, and it’s free!) The service is packaged into a fast transfer function, which is provided to Loopring trading platform users for free. However, The real killing move is behind. The Loopring Smart Wallet released soon will be the real application of Loorping Pay. At that time, Loopring will not only be a DEX transaction protocol, but also a high-speed payment protocol. As the traffic entrance, the smart wallet must also be the battleground of the next blockchain.
The second is AMM. As I said just now, the standard configuration of DEX is now AMM. You can see how popular Uniswap is. The old style of order book is basically no one cares about it. But the current AMM is mainly concentrated in Layer 1, which is slow and expensive. If it can be combined with the cheapness and high speed of Layer 2, then there is really no such thing as CEX... In the fourth quarter of 2020, Loopring 3.6 The version upgrade will launch AMM based on Layer 2.
