HomeNewsLisk (LSK) Set to Join Ethereum Ecosystem with Layer-2 Upgrade

Lisk (LSK) Set to Join Ethereum Ecosystem with Layer-2 Upgrade

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  • Lisk (LSK) announces its integration with Ethereum as a Layer-2 (L2) protocol, in collaboration with Optimism and Gelato Network.
  • This strategic move aims to enhance Lisk’s capabilities in emerging markets and decentralized physical infrastructure networks.

Lisk’s New Direction: Ethereum Layer-2 Integration

Lisk, initially established as a delegated proof of stake (DPOS) protocol, is taking a significant leap in blockchain technology. In a recent announcement, Lisk revealed its plans to migrate to the Ethereum network as a Layer-2 scaling solution. This strategic integration, in collaboration with Optimism and Gelato Network, represents a pivotal shift for Lisk, as it ventures into new territories of blockchain functionality.

Targeting Emerging Markets and Decentralized Networks

The move to Ethereum’s Layer-2 protocol is driven by Lisk’s desire to advance its key value protocols, focusing particularly on bringing real-world assets (RWA) to emerging markets. Additionally, this transition is designed to optimize its plans for a decentralized physical infrastructure network (DePIN) on-chain. This shift from a full Layer-1 to a Layer-2 protocol is a unique approach in the blockchain space, facilitated by the ease of implementation provided by Optimism’s technology.

A Pioneering Move in the Blockchain Ecosystem

Lisk’s transition marks it as the first Layer-1 blockchain to join forces with other protocols like Base, contributing to the development of the Optimism Superchain. Base, created by Coinbase using Optimism’s technology stack, is another testament to the growing collaboration and innovation within the blockchain community.

By dedicating its team of developers to the Optimism Superchain, Lisk reinforces its commitment to advancing the future of Web3. The protocol envisions its contributions as crucial in driving mass adoption in the industry.

Market Reaction to Lisk’s Ethereum Integration

Following the announcement of its Ethereum Layer-2 transition, Lisk has observed a notable increase in its market performance. At the time of the announcement, Lisk’s value surged by 6.23% to $1.13, reflecting a positive market response to this strategic move.

Lisk’s Position in the Layer-2 Arena

Lisk’s integration with Ethereum might prove to be a game-changer for the protocol, potentially elevating it to mainstream recognition alongside other Layer-2 protocols. Despite its innovative offerings, Lisk has been ranked as the 262nd largest protocol by market capitalization, trailing behind others like Optimism (OP), Arbitrum (ARB), and Polygon (MATIC) in terms of market cap ranking and total value locked (TVL).

In summary, Lisk’s integration with Ethereum as a Layer-2 protocol marks a significant step in its evolution and reflects the dynamic nature of blockchain technology, where adaptability and collaboration are key to growth and mainstream acceptance.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628