Former Fidelity International Executive Joins Layer N Advisory Board
Layer N, a roll-up network focused on scaling financial applications on Ethereum, has appointed Luc Froehlich, a former executive at Fidelity International, to its advisory board. Froehlich previously served as the global head of digital asset solutions at Fidelity International for seven years.
Froehlich Highlights Protocolโs Innovative Approach to Decentralized Exchanges
Layer N is a Layer 2 network built on Ethereum that supports decentralized exchanges designed to replicate their centralized counterparts. Froehlich joined Layer Nโs advisory board because he believes the protocol can address the fragmentation in financial technologies. He highlighted the projectโs architecture, which introduces customizable virtual machines capable of seamless communication and liquidity sharing.
- The project overcomes the siloed nature of traditional systems.
- Layer N utilizes zero-knowledge proofs (ZK) to ensure transaction confidentiality.
- The blockchain technology challenges the outdated infrastructure of traditional finance.
Layer N Unveils Nord Roll-up Testnet for Decentralized Exchanges
Layer N plans to deploy a public testnet for its Nord specialized exchange roll-up. The Nord roll-up promises improved throughput and latency compared to existing scaling solutions. It aims to offer performance comparable to centralized exchanges like Binance and Coinbase.
- The Nord Engine demonstrated high trading activity capabilities on a closed testnet.
- Layer Nโs mainnet is expected to go live this month.
- Dima Romanov, CEO of Layer N, envisions launching multiple optimized roll-ups.
- EigenDA technology reduces costs by efficiently storing batched transaction data.
Layer N recently expanded into the Asian market through a strategic investment from BlackPine and a partnership with VSFG. These initiatives aim to strengthen its Web3 offerings in the region.
Hot Take: Layer N Revolutionizing Decentralized Exchanges
Layer Nโs innovative approach to scaling decentralized exchanges has attracted attention in the crypto industry. With the appointment of Luc Froehlich, a former executive at Fidelity International, to its advisory board, Layer N is poised to revolutionize the financial technology landscape. The projectโs customizable virtual machines and utilization of zero-knowledge proofs address the challenges faced by traditional systems.
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