The rollup will take the form of a"restaked rollup", which comes with a range of services such as decentralized sequencing, verification and faster finality.
Restaking refers to a process on Ethereum where ether tokens that are deposited as security for the network can be repurposed to secure additional blockchains and protocols. Ethereum staking protocol Swell has introduced a layer-2 rollup with $1 billion in total value locked using Polygon's chain development kit .The rollup will take the form of a"restaked rollup", which comes with a range of services such as decentralized sequencing, verification and faster finality,tokens that are deposited as security for the network, a process known as staking, can be repurposed to secure additional blockchains and protocols.
Swell founder Daniel Dizon described expanding Swell's liquid-staking offering to layer 2 as"the next logical step," for the project. "Restaked rollups combine the ease of spinning up rollups using rollup stacks such as Polygon CDK with the power ofto bootstrap network security and build a decentralised network for core rollup services," AltLayer CEO Yaoqi Jia said in the statement.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum Sees Renewed Interest in Staking as Validator Entry Queue SpikesThe Ethereum network is witnessing a spike in the number of validators looking to stake ether (ETH). Data from ValidatorQueue shows that the validator entry queue has jumped to 7,045, the highest since Oct. 6. The waitlist, representing over 225,000 ether ($562 million), is expected to be cleared in just over 48 hours.
Source: CoinDesk - 🏆 291. / 63 Read more »
Crypto for Advisors: Ethereum StakingSarah Morton is Chief Strategy Officer and Co-founder of MeetAmi Innovations Inc.
Source: CoinDesk - 🏆 291. / 63 Read more »
Optimism Chains Ready for EIP 4844 Upgrade, Here's Why This Is Big DealEthereum-based L2s getting closer to most radical tech upgrade in Ethereum scaling history
Source: Utoday_en - 🏆 295. / 63 Read more »
The Protocol: Is Ethereum's Dencun Update All It's Cracked Up To Be?Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
Source: CoinDesk - 🏆 291. / 63 Read more »
ERC 6551 Ethereum Standard Changes Game in Ethereum NFTs: GuideHere's how one EIP can boost entire concept of non-fungible tokens in EVM blockchains
Source: Utoday_en - 🏆 295. / 63 Read more »
Ethereum's London Hard Fork Goes Live, Bringing Fee Reductions and Scalability ImprovementsThe Ethereum network's highly anticipated London hard fork is now live, triggering excitement in the Ethereum and larger crypto communities. A key impact of this major upgrade will be to reduce fees on the network, helping to ease congestion and improve scalability. London brings on several changes, the most notable of which is the implementation of ephemeral data blobs with EIP-4844, known as 'protodanksharding,' which will help cut L2 transaction fees and thus usher in a new era of Ethereum scalability. As the Ethereum community celebrated the much-anticipated London upgrade, a major ETH transfer caught the market's attention.
Source: Utoday_en - 🏆 295. / 63 Read more »