“Layer N” testnet achieves high-speed transactions of up to 120,000 transactions per second

Recorded 120,000 TPS on testnet

Layer N, a Layer 2 (L2) network built on Ethereum (ETH), reported on the 30th that it achieved 120,018 transactions per second (TPS) on its closed testnet.

The test is being conducted using Nord Engine, a new rollup engine optimized for trading. It processes 20,000 transactions per second on an ongoing basis, with peak times of around 120,000 transactions per second.

According to Layer N, the 120,000 TPS figure is 100x faster than leading Ethereum scaling solutions. Rollup is a solution that attempts to relieve network congestion by processing a portion of transactions outside of the blockchain.

connection: What is “rollup” as a solution to the scaling problem? Detailed explanation of the mechanism and points to note

For comparison, Solana’s Firedancer client showed over 1 million TPS on initial testnet, and Sui delivered 300,000 TPS on testnet last April.

What is Layer N?

Layer N is a network of Ethereum rollup nodes that share a communication layer and a liquidity layer. It is generalizable and at the same time allows for highly optimized rollups specific to some complex application.

In September 2023, the company raised approximately 740 million yen ($5 million) in a seed round led by Founders Fund and dao5. Other investors include Kraken Ventures, Mirana Ventures, GSR, and Amber Group.

Layer N CEO Dima Romanov said the goal is to launch multiple optimized rollups, including a proprietary version of the Ethereum Virtual Machine (EVM). He also plans to make it compatible with the Nord Engine.

Romanov said he also envisions allowing developers who build exchanges on Layer N to embed Layer N-based applications into the platform.

Layer N uses a data availability (DA) layer called EigenDA powered by EigenLayer to store batched transaction data as part of rollups. This makes it cheaper than storing it on the Ethereum mainnet.

EigenLayer is a platform that provides a “re-staking” function that reuses Ethereum staking tokens to strengthen security, but it is also attracting attention for its DA solutions.

connection:What is the next trend for modular (connected) blockchains? Explaining Celestia airdrop case study and EigenLayer ecosystem

Future of L2

Ethereum’s next upgrade, “Dencun,” will implement a feature called “Proto Danksharding,” which is expected to significantly reduce L2 transaction fees.

connection: Ethereum Foundation announces test schedule for next upgrade “Dencun”

Ethereum co-founder Vitalik Buterin is proposing that Ethereum layer 1 directly provide ZK-EVM. He explains that the need for governance at Layer 2 can be significantly reduced, increasing Layer 2 efficiency and security.

connection:What is the evolution of the virtual currency Ethereum, Mr. Buterin’s ZK-EVM integration proposal and the future of Layer 2?

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