The NEAR Foundation has announced a strategic partnership with Eigen Labs, a startup focused on building the Ethereum restaking protocol Eigen Layer.
While addressing the challenges of liquidity fragmentation between Layer 2 (L2) solutions, the collaboration aims to reinvent Ethereum (ETH) roll-up transactions, making them “more cost-effective and efficient.”
Rapid And Affordable Ethereum Transactions?
In a joint statement released on November 10, the NEAR Foundation and Eigen Labs unveiled their plans to develop a “fast finality layer” to power rapid and inexpensive transactions for Ethereum rollups, including cross-rollup transactions.
Per the announcement, the collaboration seeks to significantly reduce transaction processing times to a mere 3-4 seconds, a notable improvement compared to the minutes, hours, or even days it currently takes. Moreover, it aims to make transactions 4000 times cheaper than existing options, providing a cost advantage for users.
Furthermore, one of the partnership’s key objectives is to establish “secure and low-latency” cross-rollup communication, resolving the challenges faced by developers and founders working with rollups.
As announced, the Fast Finality Layer will maintain the “security guarantees” of Ethereum while introducing additional guarantees from the NEAR and EigenLayer technologies.
Both protocols believe this solution promises to enhance liquidity by reducing fragmentation between Layer-2 solutions, empowering developers to make informed decisions regarding the sequencers they prefer for transaction processing.
NEAR And Eigen Labs Partnership For ‘Seamless Web3 Integration’
Illia Polosukhin, co-founder of NEAR Protocol, expressed pride in partnering with Eigen Labs, emphasizing that the fast finality layer showcases the technological strengths of NEAR while making the Open Web more user-friendly. Polosukhin further stated:
NEAR Foundation is proud to partner with such an excellent team as Eigen Labs to offer a fast finality layer for ETH rollups. The fast finality layer showcases the strengths of NEAR’s technology while making the Open Web more usable, which has always been the core goal for NEAR. It will also help defragment liquidity for Ethereum rollups and make all of Web3 more interoperable as a result.
For his part, Sreeram Kannan, founder of Eigen Labs, shared his enthusiasm for the partnership and highlighted the mutual benefits it brings. In his words, the collaboration will leverage the innovative technologies of both NEAR and EigenLayer, enabling faster, cheaper, and easier development on the Ethereum network.
The collaboration between NEAR and Eigen Labs marks a significant milestone for EigenLayer, as it enables fast settlement for cross-rollup transactions and demonstrates wider adoption of restaking across the Ethereum ecosystem and beyond.
For NEAR, the partnership extends to enhancing the NEAR-Ethereum Rainbow Bridge by transitioning it to an actively validated service (AVS). This transition is expected to enhance bridging capabilities between NEAR and Ethereum, enabling faster transaction finality, increased security guarantees, and improved decentralization.
The collaboration is expected to launch a testnet in Q1 2024, and further details will be shared then. This partnership between the NEAR Foundation and Eigen Labs holds great promise for advancing Ethereum rollup transactions, improving liquidity, and driving the broader adoption of Web3 technologies.
Featured image from Shutterstock, chart from TradingView.com
The NEAR Foundation has announced a strategic partnership with Eigen Labs, a startup focused on building the Ethereum restaking protocol Eigen Layer.
While addressing the challenges of liquidity fragmentation between Layer 2 (L2) solutions, the collaboration aims to reinvent Ethereum (ETH) roll-up transactions, making them “more cost-effective and efficient.”
Rapid And Affordable Ethereum Transactions?
In a joint statement released on November 10, the NEAR Foundation and Eigen Labs unveiled their plans to develop a “fast finality layer” to power rapid and inexpensive transactions for Ethereum rollups, including cross-rollup transactions.
Per the announcement, the collaboration seeks to significantly reduce transaction processing times to a mere 3-4 seconds, a notable improvement compared to the minutes, hours, or even days it currently takes. Moreover, it aims to make transactions 4000 times cheaper than existing options, providing a cost advantage for users.
Furthermore, one of the partnership’s key objectives is to establish “secure and low-latency” cross-rollup communication, resolving the challenges faced by developers and founders working with rollups.
As announced, the Fast Finality Layer will maintain the “security guarantees” of Ethereum while introducing additional guarantees from the NEAR and EigenLayer technologies.
Both protocols believe this solution promises to enhance liquidity by reducing fragmentation between Layer-2 solutions, empowering developers to make informed decisions regarding the sequencers they prefer for transaction processing.
NEAR And Eigen Labs Partnership For ‘Seamless Web3 Integration’
Illia Polosukhin, co-founder of NEAR Protocol, expressed pride in partnering with Eigen Labs, emphasizing that the fast finality layer showcases the technological strengths of NEAR while making the Open Web more user-friendly. Polosukhin further stated:
NEAR Foundation is proud to partner with such an excellent team as Eigen Labs to offer a fast finality layer for ETH rollups. The fast finality layer showcases the strengths of NEAR’s technology while making the Open Web more usable, which has always been the core goal for NEAR. It will also help defragment liquidity for Ethereum rollups and make all of Web3 more interoperable as a result.
For his part, Sreeram Kannan, founder of Eigen Labs, shared his enthusiasm for the partnership and highlighted the mutual benefits it brings. In his words, the collaboration will leverage the innovative technologies of both NEAR and EigenLayer, enabling faster, cheaper, and easier development on the Ethereum network.
The collaboration between NEAR and Eigen Labs marks a significant milestone for EigenLayer, as it enables fast settlement for cross-rollup transactions and demonstrates wider adoption of restaking across the Ethereum ecosystem and beyond.
For NEAR, the partnership extends to enhancing the NEAR-Ethereum Rainbow Bridge by transitioning it to an actively validated service (AVS). This transition is expected to enhance bridging capabilities between NEAR and Ethereum, enabling faster transaction finality, increased security guarantees, and improved decentralization.
The collaboration is expected to launch a testnet in Q1 2024, and further details will be shared then. This partnership between the NEAR Foundation and Eigen Labs holds great promise for advancing Ethereum rollup transactions, improving liquidity, and driving the broader adoption of Web3 technologies.
Featured image from Shutterstock, chart from TradingView.com
clomiphene rx where buy generic clomiphene tablets clomiphene pills where can i buy cheap clomiphene price how to get cheap clomiphene tablets how to buy cheap clomid where buy clomiphene no prescription
I’ll certainly return to skim more.
More posts like this would prosper the blogosphere more useful.
buy generic azithromycin 250mg – oral ofloxacin 200mg flagyl us
buy semaglutide generic – generic semaglutide 14mg buy cyproheptadine online
cheap domperidone – sumycin 250mg brand flexeril usa
generic inderal 20mg – order plavix pills methotrexate canada
where to buy amoxicillin without a prescription – buy generic combivent combivent 100mcg ca
zithromax 500mg usa – buy nebivolol 5mg generic buy generic nebivolol online
augmentin pills – atbioinfo ampicillin order
cost esomeprazole 40mg – https://anexamate.com/ nexium 20mg cost
warfarin 2mg drug – cou mamide purchase losartan without prescription
buy mobic 7.5mg pills – swelling buy mobic 15mg online
buy deltasone 5mg online – corticosteroid deltasone 20mg canada
buy erectile dysfunction medications – buy ed pills generic ed pills for sale
buy amoxicillin cheap – https://combamoxi.com/ buy amoxil online cheap
buy diflucan 200mg – https://gpdifluca.com/ order forcan for sale
escitalopram 20mg cost – https://escitapro.com/# escitalopram pills
cost cenforce 50mg – this cenforce 50mg price
buying cialis generic – ciltad genesis what happens if you take 2 cialis
ranitidine usa – https://aranitidine.com/ order zantac sale
viagra 50 mg price – https://strongvpls.com/# viagra cheap india
This is the type of delivery I turn up helpful. nolvadex pills
This is the make of enter I recoup helpful. https://buyfastonl.com/isotretinoin.html
More content pieces like this would make the интернет better. https://ursxdol.com/cialis-tadalafil-20/
More articles like this would make the blogosphere richer. https://prohnrg.com/product/get-allopurinol-pills/
This is a keynote which is near to my callousness… Diverse thanks! Exactly where can I upon the connection details due to the fact that questions? https://aranitidine.com/fr/acheter-propecia-en-ligne/
This website exceedingly has all of the low-down and facts I needed to this participant and didn’t know who to ask. https://ondactone.com/simvastatin/