'New Report From ByBit Sheds Insights on Layer 2 Scalability Solutions ' bybit defi
. Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the story for quality, but the claims hereon belong to the author. #DYORin March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support.
Ben Zhou, the company's CEO and founder, formerly worked for XM, a major FX and CFD trading services provider. Among its members are investment bankers, IT companies, FX traders, and early blockchain users. From Morgan Stanley to Alibaba to Tencent are some of the members of the team who will be working on the project.According to the report, in order to deal and solve with Ethereum's scalability difficulties, the Ethereum Foundation recommends using rollups.
On the other hand, ZK Rollups are a relatively new technology, and EVM support is weak. There is still a long way to go until ZK Rollups are EVM-compatible, despite the fact that zkSync launched an EVM-compatible zkEVM on their public testnet earlier this year. It's not possible to do ZK Rollups without it. ZK Rollips and Optimistic Rollups allow for scaling of blockchain transactions through verifications methods that allow for settling of transactions for web3 applications.
ZK Rollups' lack of communication is yet another issue as the disparity in liquidity and a central sequencing procedure raise security problems because of this. However, Immutable X's recently disclosed cross-rollup liquidity solutions may be a step in the right direction.According to the report, there is a solid reason ZK Rollups haven't taken off in NFT and web3 gaming. Since Gods Unchained adopted Immutable X's solution, its trade volume has decreased significantly.
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