1. BITBILIHome
  2. Article

EDCON 2023 emphasizes mass Ethereum Layer 2 adoption – Vitalik Buterin

• 89 views

TL;DR Breakdown

  • During EDCON 2023, Vitalik Buterin, co-founder of Ethereum, among other developers, emphasized the importance of the mass adoption of Ethereum Layer 2 solutions.
  • Layer 2 solutions are off-chain protocols or frameworks built on top of the Ethereum mainnet. They aim to address scalability issues and improve transaction throughput while maintaining the security guarantees provided by the Ethereum network.
  • ENS L2 Off-Chain support enables developers to interact with ENS records and perform various operations without directly accessing the Ethereum mainnet.

EDCON 2023 is here, and time and time again, Ethereum has showcased its importance to the crypto industry and the DeFi ecosystem at large – to be more than a cryptocurrency. The ongoing EDCON 2023 in the beautiful city of Podgorica, Montenegro, is in high focus on the possibilities Ethereum has to offer to the general crypto market and beyond.

As one of the largest gatherings of the Ethereum and blockchain communities, the EDCON 2023 (Community Ethereum Development Conference) started on May 19 and ends on May 23, 2023.

EDCON 2023 – what is happening?

EDCON is a non-profit annual global Ethereum conference held in various countries. 2017’s EDCON was held in Paris, 2018’s in Toronto, 2019’s in Sydney, Australia, 2020-2021’s online, and 2022’s at the Chase Center in San Francisco. EDCON is dedicated to servicing the Ethereum ecosystem by enhancing the global communication and interaction of Ethereum communities.

image 774EDCON 2023 emphasizes mass Ethereum Layer 2 adoption – Vitalik Buterin
Source; Ethereum – EDCON 2023

EDCON 2023 features keynote addresses, technical seminars, and panel discussions on Blockchain Regulation, Layer 3, Decentralized Society, Decentralized Governance, and the Network State, amongst others. 

EDCON 2023 has assembled the brightest minds of the Ethereum community, including Vitalik Buterin (co-founder of Ethereum), Balaji Srinivasan (author of the Network State), Scott Moore (co-founder of Gitcoin), Primavera De Filippi (Blockchain researcher at CNRS and the Berkman Klein Center at Harvard University), Tim Beiko (Ethereum Foundation), Barry Whitehat (Ethereum Foundation), Cy Li (Director of De University of Ethereum), among others. 

 In addition, the conference will feature an Ethereum Quorum day, a Community Event day, and a Super Demo competition, affording ample opportunities for collaboration and discussion. 

ENS Layer 2 and offchain data support

EDCON 2023 has taken a keen interest in Layer 2 solutions and how they impact the overall financial market. And as information would have it, with the proliferation of layer 2 solutions for Ethereum that are starting to mature, it’s important that ENS provides resolution services across the ecosystem and allow ENS users to take advantage of layer 2 solutions’ efficiencies.

The ENS team and the wider ENS and L2 community have been developing a general-purpose “Layer 2 bridge” that enables cross-platform interoperability between ENS and other applications that require the ability to retrieve data from a variety of offchain sources (any data that resides outside of the Ethereum Mainnet, also known as layer 1/L1). 

This includes both proprietary database and layer 2/L2 solutions (e.g., Optimism, Arbitrum, Starkware, ZKSync, etc.) developed in a trustless manner and produced standards.

This definition is broader than what most people would consider “Layer 2”; it also includes other methods of reducing onchain data storage, such as airdrops that use merkle trees of account balances and tokens that emit events but do not store account balances onchain.

In a world with a plethora of different, incompatible layer 2 solutions, the key problem for ENS and many other applications is how to retrieve data from one of these systems in a way that is trust-minimized — that is, it does not introduce any new trust assumptions — without the application having to act as a client of each layer 2 solution that could potentially store data of interest to it.

The EIP 3668 – allows for transparent offchain (including Layer 2/L2) data lookups and allows contract authors to implement whatever validation is required; in many cases, this can be provided without any additional trust assumptions beyond those required if data is stored onchain.

The ENSIP 10 –  is a general method for resolving wildcards (for example, *.foo.eth) on L1. Issuing subdomains and resolving the parent name offchain allows dApps to create subdomains offchain while still making them available via L1.

The ENSIP 10 – is a general method for resolving wildcards (e.g., *.foo.eth) on L1. Issuing subdomains and resolving the parent name offchain enables dApps to create subdomains offchain while still making them available via L1.

Benefits of ENS L2 Offchain

ENS is a decentralized naming system built on the Ethereum blockchain that allows users to associate human-readable names with Ethereum addresses and other decentralized resources.

ENS L2 Off-Chain support enables developers to interact with ENS records and perform various operations without directly accessing the Ethereum mainnet.

By leveraging Layer 2 solutions, developers can significantly reduce transaction costs, enhance the user experience by improving transaction speed, and alleviate network congestion on the Ethereum mainnet. ENS L2 Offchain also offers compatibility with existing ENS functionality, allowing seamless integration with DApps built on Layer 2.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:EDCON 2023 emphasizes mass Ethereum Layer 2 adoption – Vitalik Buterin

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月22日 07:30
Next 2023年5月22日 09:26

Related articles

  • Bank of England’s fight against inflation will land UK into recession, economists say

    TL;DR Breakdown The Bank of England (BOE) will throw the UK into a recession by the end of the year If the Bank of England further increases the rates above 5%, economists predict the risk of financial stability shock will grow exponentially. Description The Bank of England (BOE), by the end of the year, will throw the U.K. into a recession as it continues to battle the worst inflation faced by any Group of Seven economies, according to a warning from Bloomberg Economics. Notably, despite the BOE’s efforts, making 13 straight interest-rate increases since the end of 2021, … Read more The Bank of England (BOE), by the end of the year, will throw the U.K. into a recession as it continues to battle the worst inflation faced by any Group of Seven economies, according to a warning from Bloomberg Economics. Notably, despite the BOE’s efforts, making 13 straight interest-rate increases since the end of 2021, the inflation rate has remained high, close to double digits, spreading fear among consumers.  Bank of England could trigger a recession According to economists…

    Article 2023年6月29日

  • Binance Labs invests $15 million into blockchain gaming platform Xterio

    TL;DR Breakdown Binance Labs has made a $15 million investment into blockchain gaming platform Xterio. Xterio says AI integration and multi-chain development are its focus. Description Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a $15 million investment in blockchain game publisher Xterio. The startup, which positions itself as a “free-to-play-and-own” game developer and publisher, aims to offer players the opportunity to earn non-fungible tokens (NFTs) while enjoying its games. Xterio believes that incorporating blockchain … Read more Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a $15 million investment in blockchain game publisher Xterio. The startup, which positions itself as a “free-to-play-and-own” game developer and publisher, aims to offer players the opportunity to earn non-fungible tokens (NFTs) while enjoying its games. Xterio believes that incorporating blockchain technology enhances the gaming experience, with player ownership being a crucial element in every Xterio game. Binance Labs shows support with investment in Xterio Currently, Xterio is supporting the development of 11 games across various platforms. These range from mobile Japanese…

    Article 2023年7月14日

  • Critical Vulnerability in Vyper Exposes DeFi Ecosystem to Stress Tests

    TL;DR Breakdown A critical vulnerability in the Vyper programming language allowed malicious actors to exploit a malfunctioning reentrancy lock, leading to the theft of millions of dollars from several DeFi liquidity pools, including those on Curve Finance. The incident emphasizes the importance of regular security audits, code reviews, and stress testing to protect the funds and users of DeFi protocols and ensure the long-term sustainability of the ecosystem. Description The decentralized finance (DeFi) ecosystem is facing a major stress test following the discovery of a critical vulnerability in versions 0.2.15, 0.2.16, and 0.3.0 of the Vyper programming language. The vulnerability allowed malicious actors to exploit a malfunctioning reentrancy lock, resulting in the theft of millions of dollars worth of cryptocurrencies on July 30. The … Read more The decentralized finance (DeFi) ecosystem is facing a major stress test following the discovery of a critical vulnerability in versions 0.2.15, 0.2.16, and 0.3.0 of the Vyper programming language. The vulnerability allowed malicious actors to exploit a malfunctioning reentrancy lock, resulting in the theft of millions of dollars worth of cryptocurrencies on July…

    Article 2023年7月31日

  • Cricket Legend AB de Villiers Shares Insights on NFT Hack

    TL;DR Breakdown AB de Villiers, the renowned cricket legend, reveals how he was tricked by a malicious NFT contract and lost a significant part of his collection. De Villiers shares his early investments in cryptocurrencies, including XRP, and expresses his interest in exploring various aspects of the Web3 industry. AB de Villiers, the renowned South African cricket legend, recently opened up about his personal experience with a devastating NFT hack. In an interview with Cointelegraph, de Villiers revealed how he inadvertently fell victim to a malicious NFT contract, resulting in the loss of a significant portion of his NFT collection. Additionally, he shared his early investments in cryptocurrencies, including XRP, and expressed his interest in exploring the Web3 industry. This article delves into de Villiers’ revelations, highlighting the hacking incident and his journey into the world of cryptocurrencies. Contents hide 1 AB de Villiers’ NFT Hack: Lessons Learned in Navigating Web3 2 AB de Villiers’ Affinity for XRP and Web3 Exploration 3 AB de Villiers’ Future Endeavors in the Web3 Industry 4 Conclusion AB de Villiers’ NFT Hack: Lessons Learned…

    Article 2023年6月6日

  • Media companies meet AI companies to talk about this

    TL;DR Breakdown Top AI companies including OpenAI, Google, Microsoft, and Adobe are in talks with major media outlets regarding the use of news content to train AI technologies. These discussions aim to set a blueprint for future collaborations between AI and news companies, while addressing copyright concerns. In an era where technology and news media often intersect, a ground-breaking series of negotiations are on the horizon. Forefront players in artificial intelligence, including OpenAI, Google, Microsoft, and Adobe, are engaging in dialogues with top media houses to explore collaborations over the use of news content in training their AI technologies. AI technology meets news content Publishing magnates like News Corp, Axel Springer, The New York Times, and The Guardian are reported to be in preliminary discussions with the AI giants. The topic of conversation? The use of copyrighted news material to refine AI technologies like text chatbots and image generators. One suggested arrangement involves the AI firms paying subscription-like fees to the media houses, in exchange for content to develop technologies underpinning chatbots like OpenAI’s ChatGPT and Google’s Bard. This innovative…

    Article 2023年6月19日
TOP