Upbit announces Ethereum Layer 2 using OP Stack

Upbit introduced plans to launch an Ethereum Layer 2 community with the assistance of on Stack know-how, in keeping with documentation launched at this time.

The South Korean crypto change will use the size resolution that’s constructed on the open-source on Stack Framework of Optimism. The Layer 2 -Community is meant to decrease the transaction prices and to extend the processing speeds for customers whereas sustaining compatibility with the Ethereum Meminnet.

On Stack, the underlying infrastructure that permits the Layer 2 resolution of Optimism Energy and different initiatives to construct their very own tailored blockchain networks. The know-how makes use of optimistic roles to bundle transactions from an important Ethereum chain earlier than they’re established on the bottom layer.

Upbit works as one of many largest digital asset alternatives platforms in South Korea. The change didn’t announce a timeline for the launch of the Layer 2 community or particular technical specs for the implementation.