Latest news with #Layer2
Yahoo
4 hours ago
- Business
- Yahoo
Tether to Halt USDT on Omni, BCH, Kusama, EOS, Algorand as Focus Shifts to Layer 2s
Tether has announced it will wind down USDT on five lesser-used blockchains after usage on those networks wanes. Redemptions and token minting on Omni Layer, Bitcoin Cash's Simple Ledger Protocol, Kusama, EOS, and Algorand are set to stop on Sept. 1, 2025. Remaining tokens are to be frozen on the same day, according to a statement. Together, the five networks carry only a sliver of USDT's roughly $156 billion float. Tether says the usage of USDT on these networks, which it touts as playing a role in the firm's early growth, has declined 'significantly' over the past two years. 'Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement — all key components for driving the next wave of stablecoin adoption,' Tether CEO Paolo Ardoino said in the statement. The firm will redirect its focus to Layer 2 networks such as the Lightning Network and to newer blockchains that promise faster settlement and richer developer tooling. Tether has asked its customers holding USDT on the five networks to redeem their holdings as soon as possible or request issuance of their tokens on a supported blockchain. Token holders can migrate their tokens through blockchain bridges or exchanges. The lion's share of Tether's $156 billion fiat is currently circulating on Tron and Ethereum, which together make up over 95% of the total. Solana is the only other network with more than 1% of USDT's supply in circulation, according to data.
Forbes
29-06-2025
- Business
- Forbes
What Is Layer 2? Your Guide To Blockchain Scaling And Faster Crypto Transactions
During periods of high-usage, the 'Layer 1' Ethereum blockchain can become slow and expensive. The ... More industry has created a number of Layer 2 solutions to address this. While blockchain technology promises transparency and decentralization, practical issues such as slow transaction speeds and high fees have made it challenging to meet the needs of everyday users. Whether you're trading tokens, minting NFTs or engaging with decentralized apps, the experience often falls short of the seamless and efficient interactions people expect from modern digital platforms. On public blockchains such as Ethereum, periods of heavy demand still push transaction fees into the dollars and delay settlement for minutes—an experience that certainly falls short of mainstream expectations. To close that gap, developers have turned to Layer 2 (L2) scaling solutions: purpose-built networks that execute transactions off the main Ethereum chain, compress the results into cryptographic proofs, and post those proofs back to Layer 1 for immutable finality. The approach combines the security of a battle-tested base layer with the speed and cost efficiency required for mass-market applications—an architecture that now safeguards roughly $36 billion across thousands of decentralized apps. What Is A Layer 2 Solution? A Layer 2 solution is any protocol that executes transactions off the base blockchain (Layer 1) while ultimately relying on that Layer 1 for security and final settlement. Think of it as a mall parking garage: shoppers still enter the main building (Ethereum), but the actual traffic is redirected to multi-storey ramps built next door, preventing gridlock at the front door. Most L2s fall into two camps: rollups (Optimistic or Zero-Knowledge) and state channels/validium hybrids. Other recognized Layer 2 solutions include nested blockchains and sidechains. While all L2s aim to enhance scalability, their methods for inheriting Layer 1 security and managing data availability vary, and some, like Validiums, introduce additional trust assumptions regarding data availability. All share the same north star: compress data, cut fees and leave heavy-duty security to Ethereum's battle-tested consensus. How Does Layer 2 Work? An L2 batches hundreds, or even thousands of user transactions, creates a cryptographic proof of the new state, and submits that lightweight proof to Layer 1. Optimistic rollups (e.g., Optimism and Arbitrum) assume the batch is valid unless challenged within a dispute window. Fraud proofs keep operators honest. ZK-rollups (e.g., zkSync Era or Polygon zkEVM) generate succinct validity proofs up-front, so withdrawals finalize in minutes rather than days. Either way, the result is a 10-100× throughput boost because only the proof, not every transaction detail, touches the L1. How Does Layer 2 Differ From Layer 1? Layer 2 solutions differ significantly from Layer 1 in several key aspects. In terms of throughput, Layer 1 processes around 15 to 20 transactions per second (TPS), while Layer 2 dramatically boosts this capacity, with rollups achieving over 1,000 TPS and solutions like Polygon potentially reaching up to 65,000 TPS. Transaction fees also show a stark contrast; Layer 1 fees typically range from $0.25 to $0.50 on average but can spike to $20-$60 in times of high network congestion. On the other hand, Layer 2 fees are often below $0.05, with some solutions reducing costs to as little as $0.0196, post-Dencun upgrade. Regarding security, Layer 1 relies on its native Proof of Stake (PoS) consensus mechanism, whereas Layer 2 inherits security directly from Layer 1 through cryptographic proofs. Data availability also diverges in approach, with Layer 1 storing data entirely on-chain, while Layer 2 integrates on-chain proofs with minimal data requirements. Finally, their use cases reflect their technical capabilities. Layer 1 is typically reserved for high-value decentralized finance (DeFi) applications and settlement processes, while Layer 2 excels in high-volume scenarios like payments and gaming due to its enhanced scalability and lower costs. Benefits Of Layer 2 For Crypto Users Lower fees are the headline benefit of L2s, but several second-order benefits matter just as much: Popular Layer 2 Solutions How Layer 2 Improves Ethereum Ethereum's March 2024 Dencun upgrade introduced blob space (EIP-4844), a cheap data lane expressly for rollups. Blobs lowered average L2 transaction fees by roughly 90%, catalyzing the migration of everyday payments and micro-trades off-chain. By shifting order-routing, AMM swaps, and NFT orders to L2 while anchoring security to L1, Ethereum keeps its decentralization ethos intact yet gains Visa-scale throughput—a feat that pure L1 scaling alone couldn't handle. Use Cases For Layer 2 Technology Security Considerations Of Layer 2 Networks Although L2 networks provide a number of benefits over L1 in terms of cost and speed, there's no such thing as a free lunch in crypto security: Users should generally be looking for L2s with open-sourced node software, decentralized proposers and permissionless fraud-proof systems scheduled on the roadmap. Challenges Facing Layer 2 Adoption The L2 user experience still remains a bit unintuitive: bridging ETH, switching RPCs, and wrapping gas tokens still confuse newcomers. Wallet standards like EIP-4337 (account abstraction) and gas-sponsored transactions help, but widespread education is needed. Regulators also eye cross-chain bridges as potential money-laundering chokepoints, which may impose compliance overhead on sequencer operators in 2026 and beyond. The Future Of Layer 2 And Web3 The industry increasingly treats Ethereum as a settlement layer, a Supreme Court for finality, while thousands of L2 'city-states' handle day-to-day commerce. Optimism's Superchain will soon enable atomic cross-rollup calls, and ZK-proof hardware acceleration promises sub-cent fees. Whether one mega-rollup dominates or a mesh of specialized L2s persists, the direction is clear: scale out, not up. Bottom Line Layer 2 scaling solutions have moved from academic whitepapers to production rails powering millions of daily transactions. By batching computation off-chain and posting cryptographic receipts on-chain, they deliver faster, cheaper and greener crypto experiences without abandoning Ethereum's security guarantees. Expect L2s—not yet another monolithic Layer 1—to carry Web3 toward mass adoption. Frequently Asked Questions (FAQs) What Is Layer 2? Layer 2 is a secondary network that processes transactions off the main blockchain while anchoring final settlement back to it for security. What's The Difference Between Layer 1 And Layer 2? Layer 1 handles base consensus and data availability; Layer 2 executes bulk transactions and periodically submits proofs to Layer 1, achieving higher throughput and lower fees. Can I Use My Ethereum Wallet On Layer 2 Networks? Yes. Most L2s are EVM-compatible, so Metamask and hardware wallets work once you add the network RPC or connect via WalletConnect. What Is The Best Layer 2 Solution Right Now? 'Best' depends on priorities: Base leads in TVL, Optimism's Superchain dominates transaction share, and ZK-rollups like zkSync offer near-instant finality with strong cryptographic guarantees.
Time Business News
27-05-2025
- Business
- Time Business News
Layer 2 Computers Strengthens Cybersecurity Solutions for Local Homes and Businesses
As cyber threats grow more sophisticated each year, reliable and affordable cybersecurity has become a necessity—not a luxury. With data breaches, phishing scams, ransomware, and online fraud on the rise, individuals and businesses in Centerville and the surrounding areas are searching for ways to protect their digital lives. That's where Layer 2 Computers comes in. Known for delivering high-quality IT support with a personal touch, Layer 2 Computers has expanded its focus on cybersecurity services, offering proactive solutions that defend clients against modern threats. With the company's commitment to clear communication, fast response times, and long-term protection, local customers are now turning to Layer 2 not just for tech support—but as a trusted digital security partner. Gone are the days when antivirus software alone was enough to keep your system safe. Today, cybercriminals use complex tactics such as: Social engineering and phishing scams Ransomware attacks Keyloggers and spyware Credential stuffing Fake software updates and rogue browser extensions Whether it's a small business with valuable customer data or a home computer filled with personal information, every device connected to the internet is a potential target. Layer 2 Computers takes a proactive approach to cybersecurity—focusing on prevention, detection, and rapid response. Instead of waiting for problems to appear, the company offers layered protection that includes real-time monitoring, threat analysis, software patching, and education for safer digital behavior. Layer 2 Computers provides a wide range of cybersecurity services tailored to the needs of both residential and commercial clients. These services include: Firewall configuration and management Real-time antivirus and anti-malware solutions Email filtering to prevent spam and phishing attempts Secure remote access solutions for businesses and remote workers Operating system and software update management Data backup and disaster recovery planning Network security assessments and vulnerability testing These solutions help minimize downtime, protect sensitive information, and prevent a cyberattack's financial and emotional toll. Layer 2 works closely with clients to assess risk, identify weak spots, and build personalized cybersecurity strategies—without unnecessary services or inflated costs. Small businesses are particularly vulnerable to cyber threats. According to the Verizon Data Breach Investigations Report, over 40% of cyberattacks target small businesses, and many don't recover from the financial loss. Layer 2 Computers understands small businesses' unique challenges and offers affordable, scalable protection that grows with the company. Whether securing a point-of-sale system, protecting client records, or creating a reliable backup strategy, Layer 2 helps businesses stay operational and compliant with evolving industry standards. Small business owners trust Layer 2 to secure their digital assets and keep their operations running smoothly, from local retail shops to law offices and contractors. Technology is only as secure as the person using it. That's why Layer 2 Computers focuses not only on protecting devices—but also on educating users. Clients learn to recognize phishing emails, avoid risky websites, and create strong, unique passwords. The company regularly provides tips and insights on staying safe online, helping customers take an active role in their protection. This human-first approach builds trust and equips clients with the knowledge they need to navigate today's digital landscape more confidently. Sometimes, the first sign of a cybersecurity issue is a sluggish or misbehaving computer. Viruses, spyware, and bloatware can quietly degrade performance or open backdoors for cybercriminals to exploit. Layer 2 Computers offers diagnostics and clean-up services that improve performance and identify and remove hidden security threats. These services are part of their broader PC Repair offerings, which include virus removal, hardware upgrades, and operating system optimization. By starting with a clean, secure foundation, users can feel confident that their systems are protected and running at their best. As a locally owned business, Layer 2 Computers provides Centerville and nearby communities with practical, accessible, and easy-to-understand cybersecurity services. Unlike national chains or remote tech support, clients get fast, personal service from a genuinely caring team. Whether answering a quick question, scheduling a home visit, or implementing enterprise-grade security for a growing business, the Layer 2 team is known for its friendly attitude and dedication to helping people feel secure. Visit Layer 2 Computers—Tech Support, Computer Repairs, and IT Services to explore cybersecurity services, request support, or connect with a technician. In an era when nearly everything is online—from banking and health records to work documents and personal memories—cybersecurity is essential. The stakes are high, but the proper support can make all the difference. Layer 2 Computers is committed to helping its clients stay one step ahead of cyber threats with innovative, reliable, and local protection. Whether securing a home network, preparing for remote work, or upgrading your company's defenses, Layer 2 offers the tools and experience to keep your digital life safe. Don't wait until something goes wrong. Take the first step toward stronger security and peace of mind by contacting Layer 2 Computers today. TIME BUSINESS NEWS
Business Mayor
26-05-2025
- Business
- Business Mayor
Decoding Base's upgrade plan: Is it ready to take on Ethereum?
Base's TVL surged to $4 billion with upgrades for faster transactions, lower fees, and decentralization. Base challenges Ethereum's scalability with ambitious performance upgrades and decentralization plans, eyeing L2 dominance. Base is stepping up. With its TVL climbing back to late-2024 highs, the Coinbase-backed Layer 2 is launching key upgrades to reduce fees, speed up transactions, and decentralize its infrastructure on Ethereum's mainnet. However, with Ethereum still facing scalability challenges, the real question is—can Base transition from a fast follower to a dominant Layer 2 player? Base's bold vision for the future Jesse Pollak's latest X post sketched a performance roadmap for Base: sub-200 millisecond confirmation times, fees under a cent, and output at 200 transactions per second. Source: X But it's not just about speed, seems like. Pollak emphasized neutrality – eliminating sandwich attacks and giving builders fair execution – alongside plans to decentralize core infrastructure in two stages. When asked if Base could ever hit 1 million TPS, his one-word reply – yes – wasn't framed as a joke. TVL rebounds – but can momentum stick? Base's rapid ascent As of May 2025, Base has emerged as a formidable player in the Layer 2 landscape. This growth positions Base ahead of competitors like Arbitrum [ARB] and Optimism [OP] in terms of TVL and daily transaction volumes. Ethereumm[ETH] isn't standing still. The recent Pectra upgrade brought moderate gains in scalability – boosting blob output and nudging smart contract wallet usability forward. Read More PEPE prices up 12% from this support level – Is it all good news? Further down the roadmap, the Fusaka upgrade promises more technical muscle through PeerDAS and Verkle Trees, targeting data availability and state size concerns. Base, on the other hand, is moving faster. With shorter confirmation times, cheaper fees, and a push toward decentralizing core operations, it's making a case for near-term dominance in the L2 arena. READ SOURCE
