Layer 1 Lisk Redirects to Layer-2

Lisk moves from layer-1 to layer-2 for Ethereum through Optimism's OP Stack toolkit and Gelato's rollup-as-a-service platform

Layer 1 Lisk Redirects To Layer 2_65b9735e3db4a.webp

Layer 1 Lisk redirects to layer-2

Lisk is a layer-1 blockchain platform launched in 2016 that is planning to transition to a layer-2 on the Ethereum ecosystem.

According to a statement released on February 19, Lisk announced a plan to cooperate using Optimism’s OP Stack toolkit and Gelato’s rollup-as-a-service platform to build a layer-based development infrastructure. 2 on its own. Lisk’s L2 solution will focus on the real-world assets (RWA) and decentralized physical infrastructure network (DePIN) segments.

Today, we are excited to announce that Lisk will integrate with the Ethereum ecosystem as a Layer 2 (L2) in collaboration with @Optimism & @gelatonetwork!

🏗️ Focused on solving local problems in Emerging Markets by bringing solutions around real-world assets (RWA), off-chain… pic.twitter.com/a05p5ldwEm

— Lisk (@LiskHQ) December 19, 2023

With the popularity of the Ethereum virtual machine (EVM), Lisk believes this is the ideal time to innovate and become a layer-2 on Ethereum.

Lisk planned to launch its testnet in the first quarter of 2024, pledging to bring transaction fees 90% cheaper than the Ethereum mainnet.

In the transition to layer-2, converting the LSK token to Ethereum is a story that needs to be carefully calculated, mainly to enhance the utility of this token on the dApp and DeFi systems of the entire ecosystem.

Lisk will continue to maintain the current reward sharing mechanism and use LSK for DAO governance on the new chain. Additionally, Lisk is building a token airdrop program for early support users, with details to be announced once the mainnet is deployed.

layer 1 lisk redirects to layer 2 65b9735e414bd

https://lisk.com/

Not only Lisk, many other projects are also pursuing layer-2 development such as Coti, Celo, Kraken.
Back at its peak in 2017, Lisk was one of the 20 cryptocurrencies with the largest capitalization in the crypto market. However, by 2023, Lisk has dropped to 272nd place on the capitalization rankings, from 919 million USD to only 152 million USD.

This represents a significant decrease in Lisk’s market value in recent times. The project is trying to re-establish and improve its position through the application of new layer-2 technology, especially using Optimism and Gelato technologies to optimize its performance and functionality.

Related: Coti Deploys Layer-2 Solution on Ethereum

Chart of Lisk(LSK)

layer 1 lisk redirects to layer 2 65b9735e43a46

Chart of the LSK/USDT price pair at 2:56 am on December 21, 2023 (UTC) frame 1W

(100 votes)

5.0/5

(100 votes)

Latest

Bitcoin Surges To $106,000 On Middle East Ceasefire And Rate Cut Expectations

News | Bitcoin | Editor Choice

Bitcoin Surges to $106,000 on Middle East Ceasefire and Rate Cut Expectations

Bitcoin surged past $106,000 after President Trump announced a ceasefire between Israel and Iran, reigniting hopes for geopolitical stability and global monetary easing.

Pi Network Faces Challenges Ahead Of Pi2day Amid Market Downturn

News | Editor Choice | Pi Network

Pi Network Faces Challenges Ahead of Pi2Day Amid Market Downturn

With just days left before Pi2Day, the Pi Network community is hoping for a price boost from major announcements — but geopolitical tensions and Pi Coin’s steep decline may dim those hopes.

What Does Former Binance Ceo Say As Bitcoin Falls Below $100k

News | Bitcoin | Editor Choice

What Does Former Binance CEO Say as Bitcoin Falls Below $100K?

As Bitcoin plunges below $100,000 amid geopolitical tensions, former Binance CEO Changpeng Zhao reassures the community that this is merely a dip before the next all-time high.

Pi Coin Founder’s Reaction To Being Called A Scammer

Editor Choice | Pi Network

Pi Coin Founder’s Reaction to Being Called a “Scammer”

While the price of PI is struggling around the 0.5 USD mark, the founder of Pi Network, Nicolas Kokkalis, has unexpectedly been labeled a "scammer."

Altcoin Plummets 80% Time To Test The Bottom Or A Recovery Opportunity

Altcoin | Editor Choice

Altcoin Plummets 80%: Time to Test the Bottom or a Recovery Opportunity?

The entire altcoin market has lost 80% of its value in just the past six months, even though BTC has maintained the 100k mark. Altcoins continue to search for a bottom, and this may present an opportunity for recovery.