Layer N is a Layer 2 blockchain solution tailored for financial applications on Ethereum. It's designed to improve upon existing traditional financial networks and solve some of the limitations of current blockchain technologies.
What is Layer N
Here’s how it works:
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Focus on Financial Applications: Layer N is specifically created for financial uses on Ethereum, aiming to outperform traditional financial networks.
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Solving Scalability and Performance Issues: While scalability has improved with Layer 2 solutions, many remain isolated and underperforming. Layer N proposes a modular blockchain system that connects various rollups to facilitate transactions within its ecosystem.
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Modular Ecosystem: Layer N acts as a plugin where DeFi applications can connect to specialized roll-ups. These roll-ups enhance performance, throughput, and composability (the ability to combine different components).
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Enhancements Offered by Layer N:
- Performance: Hyper-specialized rollups and short transaction validation times boost overall performance. Their DEX rollup, Nord, competes with centralized exchange (CEX) performances.
- Throughput: Improved with EigenDA, a scaling solution using restaking to secure data. Layer N also compresses data significantly to reduce transaction costs.
- Composability and IRC: Inter-Rollup Communication (IRC) allows different rollups to communicate instantly and bridge liquidity easily.
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Products in Development: The team is working on three main products:
- Nord Engine: A decentralized exchange chain (DeX Chain).
- N-EVM: An Ethereum Virtual Machine compatible chain.
- NordX: A chain designed for institutional use.
In summary, Layer N offers a novel approach to blockchain for financial applications, focusing on connectivity, performance, and cost-effectiveness. It's developing solutions to address current limitations and enhance the efficiency of decentralized finance (DeFi).
Team of Layer N
CTO
Sheheryar is the CTO of Layer N. He is freshly graduated from McGuill University, a top tier Canadian University. During his internship, he worked at Activision for a few month as a Software Engineer, and worked for a year before that developing his backend developer skills.
Founder
David C. is freshly graduated from Harvard. He did one internship as a business developer.
Layer N review
Enhanced DeFi Performance
Unique architecture and specialized rollup boost DeFi app efficiency.
Data Security
Uses restaking with Ethereum validators to secure data access.
Inter-Rollup Links
Enables instant communication and liquidity sharing across chains.
Rising Competition
Faces increasing competition from numerous new rollup solutions.
Lack of Product
Currently without user-ready products like Nord, N-EVM, or NordX.