Ethereum ETF Approval Unlikely to Pave Way for Other Crypto ETFs: Interview
LightLink, an Ethereum Layer-2 blockchain, last week announced the integration of its Hummingbird client with Celestia’s Mainnet. The launch will significantly improve scalability and reduce transaction fees for Lightlink’s users, the platform wrote in its blog.
LightLink, in April, secured $6.2 million in funding during an extended seed round. The startup extended its seed round following high demand from investors. The funding was backed by several institutional and individual investors.
Further, LightLink reportedly records about 115,000 daily transactions, with a strategic alliance with Animoca Brands. The platform’s native token called LL, recently debuted through Fjord Foundry’s Liquidity Bootstrapping Pool (LBP).
Speaking with CryptoNews, Roy Hui, CEO & Co-founder of LightLink, shares how gasless Ethereum Layer-2 solutions accelerate Web3 adoption.
“Gasless transactions significantly enhance the user experience, lowering entry barriers and alleviating users of complexities, thus simplifying onboarding and retention efforts,” he noted.
Mr Hui said that the emergence of Layer-2 solutions came with better throughput, faster execution, and lower cost. This in-turn led to decreased failures, increased support for concurrent users, and nearly instantaneous interactions.
Speaking about LightLink’s, he said that the company’s focus is to “devise strategies to onboard a larger number of users into the ecosystem.”
Additionally, Gas abstraction stands as the company’s flagship feature, Mr Hui added. The feature introduces a novel transaction fee model, which allows users to engage with smart contracts without the necessity of paying fees in ETH or other native tokens.
“We will continue our ongoing research and development efforts
Read more on cryptonews.com
