📰 Table Of Contents
Layer N Welcomes Luc Froehlich to Advisory Board
Layer N, a roll-up network focused on scaling financial applications on Ethereum, has appointed Luc Froehlich to its advisory board. Froehlich, a former executive at Fidelity International, brings extensive experience in digital asset solutions to the team.
Having led the exploration of cryptocurrencies and tokenized assets at Fidelity International, Froehlich highlights Layer N’s innovative approach to decentralized exchanges.
Protocol’s Innovative Approach
- Layer N is a Layer 2 network built on Ethereum supporting decentralized exchanges.
- Froehlich praises the project’s architecture for addressing fragmentation in financial technologies.
- The network introduces customizable virtual machines for seamless communication and liquidity sharing.
By utilizing zero-knowledge proofs (ZK), Layer N ensures transaction confidentiality, meeting regulatory requirements while challenging traditional finance infrastructure.
Layer N Unveils Nord Roll-up Testnet
Layer N announces plans for a public testnet for its Nord specialized exchange roll-up, promising improved throughput and latency for decentralized exchanges.
Nord Roll-up Features
- Expected performance comparable to centralized exchanges like Binance and Coinbase.
- During testing, the Nord Engine handled 120,000 transactions per second at peak.
- Mainnet launch scheduled for this month.
CEO Dima Romanov envisions multiple optimized roll-ups, including Ethereum Virtual Machine compatibility with the Nord Engine, empowering developers to build applications directly on decentralized exchanges.
Layer N’s Expansion and Funding
In September 2023, Layer N secured $5 million in seed funding from investors like Founders Fund and dao5. The project’s expansion into the Asian market through strategic investments and partnerships aims to strengthen its Web3 offerings.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
