These Layer 2 projects are on fire due to the high fee of Ethereum

In recent days, ETH can no longer be described as congestion, but as "very congested"! Some time ago, the popularity of Uniswap, which was very popular, has dropped slightly. It’s not that no one is playing 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. Not to mention liquid mining, YAM some time ago, recent spaghetti, grapes, Approve, Deposit, Harvest, Withdraw, a single currency has to call the contract at least 4 times, if several coins are mined at the same time , You have to call a contract more than ten or twenty times, Gas burns hundreds of dollars easily, maybe the coins mined, the income is not as much as the GAS burned. Therefore, if you don’t have tens of thousands or hundreds of thousands of dollars in funds, it’s better not to participate in this kind of mining. This phenomenon has caused 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, so that 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. BTC fell below $16,000: Jinse Finance reported that the market showed that BTC fell below $16,000 and is now reported at $15,997.4, with an intraday drop of 4.11%. The market fluctuates greatly. Please do a good job in risk control. [2022/11/21 22:12:40] This article introduces the fundamentals and current status of several current mainstream Layer 2 projects from the perspective of each project. 01 Raiden Network This should be the earliest Layer 2 project on Ethereum. Bitcoin has Lightning Network, and 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. Then the situation of this project is similar to that of the Lightning Network. It has always been in a state of sluggishness. Although Binance and other mainstream trading platforms have been launched early, the transaction volume has not been large, the development has been relatively slow, and the promotion work is not active. After 19 years, many The newcomers who entered the circle have never heard of it. It was not until Layer 2 became popular recently, and the currency price also performed well, that it re-entered people's attention. 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, V God personally dissed the project at that time. 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 use this as an argument 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's ecological subsidy program was launched to encourage research, improvement, and ecological gadgets based on Raiden. The overall project is the same as the project itself. Ledger and Cathay Innovation launched a US$110 million early-stage fund: According to news on June 8, the encrypted security platform Ledger and the venture capital institution Cathay Innovation cooperated to launch a US$110 million early-stage fund, which will focus on Web3, DeFi, NFT and DAO. The fund, called Ledger Cathay Capital, is backed by French public investment bank Bpifrance. The combined entity seeks to unlock resources, networks and potential partners to accelerate Web3 innovation while maintaining security standards. The fund will be led by Denis Barrier, co-founder of Cathay Innovation, and Pascal Gauthier and Michael Louzado of Ledger. It plans to invest in seed rounds and Series A financing, with a total of 20 to 25 investments ranging from $550,000 to $4.3 million. The fund has not made any investments to date. (Blockworks) [2022/6/8 4:11:01] All in all, as a layer 2 of pure channel technology, in the environment where the channel may become the standard protocol stack of Ethereum in the future, it is difficult to learn from many Layer 2 projects In addition, channel technology basically does not allow arbitrary execution of smart contract transactions under the chain, 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 is up to There are only dozens of accounts and dozens of channels in Yue. To put it bluntly: 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. It is technically similar to Raiden, except that Raiden's channel is 1-to-1, and LQD is a more optimized 1-to-N. At that time, God V 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... the number of Ethereum addresses holding more than 0.1 ETH hit a record high: Jinse Finance reported that Glassnode data showed that the number of Ethereum addresses holding more than 0.1 ETH reached a record high of 6,461,494. [2022/1/1 8:18:04]02 Celer Network’s 18-year blockbuster Layer 2 project was called an "aircraft carrier" level by people in the industry at the time. Binance 1EO was first launched. I never thought that the currency price and popularity would be good after it went online. , 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. Compared with Raiden, Celer is obviously a project that is more capable of doing things and capturing hot spots in the circle. From a technical point of view, Celer's generalized state channel itself is more complex than Lightning Network and Raiden Network. , the channel is grasped with both hands, and both hands must be hard. In terms of the market, Celer has cooperated with the Web3 Foundation to transplant the state channel to the development environment of Polkadot, so Celer is now considered to be half of the Polkadot ecological project. Celer's mainnet was launched last year. The mainnet was upgraded in May this year, and the number of opened nodes increased on a large scale. This month, the Beta testnet of the State Guardian Network (SGN) was launched. There are 245,213 unconfirmed transactions on Ethereum: Golden Finance News, according to OKLink data, there are 245,213 unconfirmed transactions on Ethereum, the current network computing power is 788.86TH/s, the network difficulty is 10.68P, and the current currency holding address is 68,228,828 , a year-on-year increase of 158,354, the 24h on-chain transaction volume was 1,836,749ETH, and the current average block generation time is 14s. [2021/11/13 6:49:29] Like Raiden, Celer's main technology status channel is no longer a new or optimal solution in the current blockchain expansion solution. I believe Celer will The month will put more energy on the side chain technology of POS Rollup. It remains to be seen how effective it will be at that time. 03 Matic people in the circle call it a horseshoe. At that time, Binance 1EO was first launched, and it once skyrocketed dozens of times, and it was called a demon coin. Horseshoe uses a significantly more advanced expansion technology, that is, the Plasma sidechain technology. In this field, it is the only one with OMG (loom used to be, but it basically died). The use of Plasma can enable Matic to host DApps, which has more potential value for projects such as DeFi. At present, NFT and the Layer 2 of the game ecosystem on ETH, Matic basically has a monopoly position through various cooperation. 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 cooperation with WazirX, an Indian trading platform acquired by Binance. The Automated Market Maker (AMM) protocol plans to launch its first testnet in September. The daily burning volume of ETH increased by 28.61% month-on-month: According to the data of the masters on Okeyun Chain, the current burning volume of Ethereum is 508,100 ETH, and the average burning volume of a single block is 1.1655 ETH; the burning volume of Ethereum yesterday was 8680.76 ETH, the daily The volume increased by 28.61% month-on-month. [2021/10/12 20:22:19]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 points). Matic ranked third, 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. 04 OMG's 17-year-old "Nenmo Coin", one coin, one tender model came out of OMG, the first project of V God's "platform" (the second is KNC). After the currency price and reputation soared, OMG fell into a long-term downturn, and was criticized by V God for the slow development progress, which once made people think that this project was going to be cool. 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 it has carried the banner of Plasma together with Matic. Later - Reddit Ethereum expansion proposal, OMG became the most popular Ethereum project (Solana is a separate public chain). Two days ago, Tether officially issued USDT on OMG! This is a big deal! You must know that USDT was issued on the public chain before, 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) 05 LRC The only purely domestic project (Celer is considered a Silicon Valley Chinese project), it was in full swing in 2017, it was praised by everyone, and it was hailed as domestic 0x . Later, after the 18-year bear market, it also fell into a slump until 2020, when it rose like a rocket like OMG. I can’t remember how many times V God has 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. Loopring’s performance has lived up to expectations. The TPS2000+ DEX is the only one in the industry (the other is Deversifi). In a few months, in DEX, the number of transactions ranks among the top three, and the amount of locked positions ranks among the top five. Of course, the number of users is a flaw. In 2020, DEX will be dominated by AMMs. DEXs with order books such as LRC or IDex are very unpopular. However, in addition to V God's spare no effort to call for orders, LRC has two things to look forward to. One is the smart wallet. Loopring launched Loopring Pay 2 months ago (transfer to ETH or ERC20, the account will arrive 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. 06 Summary The biggest problem with Layer 2 at present is that they are not interoperable with each other. That is to say, the past and the present have always been in a state of disunity. However, if you want to assist and accelerate DAPP applications on ETH, or DeFi on a large scale, There must be a core technology and core project that dominates and completes the feat of Qin destroying the six countries, otherwise, it will always be such a situation where the heroes are divided, no one can eat big meat, and ETH has been "slowing down"..

Tags：

FTT