Global #Layer 2

ENS Labs, the organization behind the Ethereum Name Service (ENS), is making waves with an exciting new development: the creation of its own Layer 2 (L2) network called Namechain.

Base, a layer 2 scaling solution built on Ethereum, has recently implemented a new security feature known as fault proofs. This mechanism allows anyone to dispute an incorrect withdrawal transaction, ensuring greater transparency and decentralization within the network.

As decentralized finance (DeFi) continues to evolve, one of the significant challenges it faces on the Ethereum network is the high cost of transactions.

Pudgy Penguins, the popular NFT project known for its adorable penguin characters, is making a strategic move to expand its ecosystem. Igloo, the parent company of Pudgy Penguins, has recently acquired Frame, a blockchain development studio, with the aim of creating a dedicated Layer 2 solution for the project.

DeFi enthusiasts on the Binance Smart Chain (BSC) rejoice! Matrix Reserve has launched Matrix Pulse Network, a brand new Layer 2 solution designed to address the longstanding issues of slow transactions and high fees. This innovative technology promises to revolutionize the DeFi landscape on BSC.

The Ethereum Name Service (ENS) has proposed an upgrade to ENSv2, which involves migrating to Layer 2 to reduce gas fees and enhance transaction speeds.