On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Long-awaited layer two scaling is finally being launched on Uniswap v3, albeit in a limited format initially.
The long-awaited layer two scaling solutions upgrade for Uniswap has finally been spotted in the wild with the launch of version 3 on Optimistic Ethereum.
In a post on July 13, the world’s most popular decentralized exchange stated that it was pleased to finally announce the alpha launch of Uniswap v3 on the Optimistic Ethereum (OΞ) mainnet.
The alpha launch is a limited version of the full system which helps developers deploy the system gradually and address any issues that may arise. The blog post elaborated:
“Please treat this as an early alpha product. Optimistic Ethereum is a complex Layer 2 scaling solution still in need of rigorous battle testing.”
The DEX warned of potential downtime, and stated that withdrawals from OΞ to layer one will take seven days. It also stated that there are limited assets at launch, namely ETH, USDT, WBTC, DAI, and SNX, but more will be added in the coming days and weeks.
During the alpha period, the platform will support an initial throughput of 0.6 transactions per second. It added that this should equate to a transaction capacity roughly in line with layer one, but transactions on OΞ confirm instantly meaning there are no more pending or stuck swaps.
Uniswap explained that assuming v3 has equal usage to layer one, OΞ should offer transaction cost savings of up to ten times, however increased demand will drive gas costs higher. The transaction speeds will be increased over the coming weeks and months as the infrastructure is tested and optimized at scale.
Protocol founder Hayden Adams commented on the launch and high-speed transaction capabilities, adding:
“Building general purpose Optimistic Rollups is an extraordinary undertaking and a critical step for decentralized finance to gain mass adoption.”
1/
— Hayden Adams (@haydenzadams) July 13, 2021
It's happening
Instant transactions and a steady increase in scaling w/ the end goal of fully meeting demand for low cost, high speed DEX trading
All built on Ethereum and preserving decentralization https://t.co/SyVtUsswYW
Related: Will the launch of Uniswap v3 spark a new DeFi boom?
Initial users have been impressed, with Bankless founder David Hoffman exclaiming “It's instantaneous and insanely cheap. 5 swaps in 30 seconds, and I wasn't even trying to be fast.”
Uniswap said that the scaling solution is complementary to Ethereum 2.0:
“Scaling Ethereum will be an iterative process, but this is a major step forward. Optimistic Rollups and ETH 2.0 are complementary scaling solutions and together will propel DeFi to mainstream adoption.”
OΞ uses an optimistic rollup which changes the zero-knowledge consensus principle by assuming that all transaction verifications are correct. Users only intervene only if they see an incorrect transaction whereby they can submit a “fraud-proof” to signal that the data is incorrect.
DeFi platform Synthetix has also announced the launch of Optimistic Ethereum for its layer two exchange for the week beginning July 26. In late May, the Ethereum layer two scaling solutions provider announced a collaboration with blockchain analytics platform Etherscan.
https://ift.tt/36DlYSh
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