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Vala networkA Dotted Parachain, has expanded its reach to Ethereum Blockchain by introducing a layer 2 stack protocol designed to enhance scalability and efficiency.
According to January 8 statement:
“The Phala Network has taken a huge step forward in blockchain innovation by launching the first Op-Succinct Layer 2 (L2) pool on Ethereum. This transformative achievement is the result of a strategic partnership with Succinct Labs and Conduit.”
The second layer solution integrates optimistic and zero-knowledge (ZK) proofs through the OP-Succinct technique. This technology enhances the capabilities of OP-based clusters OP stack By including ZK proofs which ensure faster termination, lower costs and improved security.
Meanwhile, Phala’s move to Ethereum is in line with its vision of offering advanced crypto computing. The network’s Trusted Execution Environment (TEE) technology allows developers to deploy secure smart contracts, especially in AI-powered decentralized applications.
Furthermore, its set of updates introduces Dstack functionality that simplifies the transition from Web2 systems to blockchain-based Web3 setups. It also supports decentralized AI applications, such as autonomous agents, while enhancing blockchain security through advanced encryption layers.
Layer 2 networks rise
Phala’s move reflects the growing interest in Ethereum Second layer solutions.
Data From L2beat highlights the sharp rise in staking within the Ethereum ecosystem, as the sector has seen rapid expansion over the past year. During this period, the main players like Kraken and Deutsche Bank He owns Venture into building layer 2 blockchains on Ethereum.
However, this rise in Layer 2 networks raises Fears Within the community around fragmented liquidity pools and low market efficiency.
However, proponents argue that specialized blockchains offer clear advantages. These chains can focus on targeted use cases, improve technical collections, and foster custom communities through governance and native tokens.
Furthermore, transaction fees and customized solutions on these platforms can create sustainable revenue streams for an organization.
Disclaimer: CryptoSlate received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.
