Connect with us

Press Release

Agalta Protocol: A Layer 2 solution with the best overall performance

Published

4 years ago

on

Agalta Protocol: A Layer 2 solution with the best overall performance

Since its invention in 2016, Ethereum has become the most active and busiest blockchain network after years of repaid development. It is the undisputed NO.1 public chain in all perspectives, including richness of ecology applications, on-chain assets scale, token security and other core indicators.

In 2021, with the emerging of digital currency bull market in the past few months, the transaction frequency of digital currencies deployed in the Ethereum network increased massively, resulting in a significant increase in network usage, especially the bursting in DeFi area. This makes a desperate lack of the original throughput.

For a long time, the entire crypto community has been working hard to solve the throughput and high gas fees problem of Ethereum. One of the major solutions is Ethereum 2.0, which will increase TPS greatly. But is it possible to fix this from another perspective? The answer is yes, it is Layer 2.

About Layer 2

As we all know , the biggest weakness of ETH is the performance. ETH uses full nodes ,which led to low speed and congestion during transactions. ETH came up with the solution of sharding to improve its performance, means to divide Ethereum blockchain into several shards, put nodes in different shard to participate in accounting and consensus. After sharding, Ethereum become a number of relatively smaller blockchains, and the amount of nodes on each shard is significantly reduced. Thus improve work efficiency greatly.

However, sharding based on current situation causes great challenges for development and upgrades, as Ethereum is working constantly everyday and already has a lot of nodes and data.

What is Layer 2? Literally , it refers to the second layer of network. The logic is to transfer and process transactions from Ethereum’s main chain Layer 1 (L1) to Layer 2( L2), then send results back to Layer 1 for confirmation. We call this solution Ethereum Layer 2.

Simply put, Layer 2 develops another blockchain outside the Ethereum main chain, transfers transactions on Ethereum to Layer 2 for further processing, and sends results or briefing back to Ethereum blockchain. The theoretical TPS of L2 reaches 2000-4000, which surpasses Visa’s processing capacity-1700 transactions per second. Therefore, many people believe that the L2 solution is the hope for Ethereum to win the future.

At present, Layer 2 ecological construction has been carried out in full force, and design schemes in different types have received support from a certain amount of community users. However, the trilemma (i.e. decentralization, security and scalability, only two options are achievable) remains an unavoidable issue for most schemes. However,   Agalta Protocol provides another thinking to solve this for the market.

About Agalta

Agalta is a decentralized cross-chain protocol featured by its high-speed, security, and reliability. It is one of the first expansion protocols that support Ethereum , and can efficiently solve the congestion and high gas fees problems of Ethereum .Through side chain expansion technology, Agalata extends the internet to existing and future blockchain, Agalta helps developers to build Dapp quickly, and carry out large-scale commercial applications.

Agalta Protocol is committed to the construction of the public chain Layer-2 cross-chain DeFi ecosystem, will launch multi-chain cross-chain research and development plan as scheduled, and gradually open Layer-2 high-speed cross-chain network of Binance Smart Chain, Huobi Eco-Chain, Polkadot Main Chain, OKT and other public chains. As well as the enterprise development toolkit. One click fork of Defi projects and products on Ethereum will also be available here. And Agalata will become a cornerstone of the global public chain Defi eco-system.

Intoday’s market, Layer 2 solutions like Rollup and State Channel are emerging, including some repetitive functions. Many investors tend to be speculators and ignore some common problems of projects. For example, in the economic model of Optimistic Rollup Protocol, each batch sequencer of epoch needs a smart contract called bond administrator to be marked as collateral. To become a collateral sequencer, a fixed amount of ETH has to be added to the contract. This economic model can prevent the sequencer from becoming abnormal, but it does not fix the potential risk that the verifier may try to send a large number of fraud proofs to the blockchain in different batches (Forcing a large amount of L1 calculations ).

Celer,  a representative project of the State Channel.  Even though the side chain channel in its network can significantly reduce required collateral deposit, it still has to be proportional to channel numbers and replay capacity of a singal channel (such as payment). This requires massive liquidity in Celer network to ensure normal running of State Channel. Besides, usually the State Channel requires users from both sides to be online all the time, otherwise fairness and security cannot be guaranteed. This kind of availability lackness limits State Channel’s application greatly.

Aalta Protocol technical advantages

Agalta Protocol carried out in-depth research and innovation to solve the common problems mentioned above. And proposed a new generation of Layer 2 Agalta solution: namely , a high-performance cross-chain Protocol that supports multi-chain ecology. Specifically, it has the following highlights.

● Decentralized network: An efficient, safe, and credible decentralized side chain network. The first layer-2 expansion protocols that support Ethereum features scalability and robustness.

● Cross-chain anchoring: AGAT provides a two-way anchored Aga-adapter (adapter) for ETH and other ERC-20 tokens to transfer them to the Agalta chain and provide an EVM-compatible execution environment for DeFi applications.

● AMM model: The newly optimized AMM model automatically prices assets by using the pricing algorithm in the smart contract and creates a liquidity pool for each transaction token. The AMM pool provides liquidity for asset transactions in an automated manner.

● Ultra-high TPS: On the high-performance cross-chain network based on the Agalta API framework, the theoretical TPS performance is as high as 140,000+, far exceeding the existing blockchain transaction performance.

● 0 Gas fee: The unique layer-2 architecture avoids network congestion and the high gas fee. The 0 gas fee allows users to trade freely without worrying about high handling fees and network delays

● Real-time transactions: All transactions are migrated to Layer-2. Users can conduct real-time transactions without waiting for the confirmation time of a block.

● Privacy and security: Based on the advantages of blockchain distributed structure, anonymity and non-tamperable data, the data privacy of transaction users is fully protected, which avoids personal data leakage and data loss

Layer 2 solutions comparision

Now let’s compare all the representative projects in the market in a table

Comparison of Layer-2 Expansion Technology Routes

  State channel     Plasma Optimistic Rollups ZK Rollup Agalta
Typical project Celer, Pisa OMG, Matic OVM, Fuel zkSync, Loopring Agalta
Concept The state channel provides direct one-to-one transfer between two addresses. However, a large number of calculations involved in the interaction between users are calculated and communicated in an encrypted and secure way under the chain. The final settlement of the balance takes place in the expansion plan on the Ethereum main network.   Ethereum’s second-tier expansion framework, based on the main chain (chain-in-chain). Anyone can create different Plasma based on the main chain to support different businesses. Plasma cannot guarantee the safety of the sub-chain, but it can guarantee that users can safely retrieve their assets and return to the main chain when a security incident occurs.   Responsible for a lot of computing under the chain, and security on the chain. A two-layer expansion technical route that ensures the correctness of the state update under the chain by using fraud proof technology.   Responsible for a lot of computing under the chain, and security on the chain. A two-layer expansion technical route that ensures the correctness of the state update under the chain by using zero-knowledge proof technology.   The Agalta Protocol cross-chain architecture consists of Aga-adapter, Aga-Hub cross-chain gateway, ACCP cross-chain communication protocol, and Layer-2 Agalta chain relay cross-chain network group. A two-layer expansion technology route that guarantees the security of cross-chain transactions by using technologies such as S-SPV certification. The transaction links are all completed in the blockchain network. Data is secure and transparent.  
Security Risk of loss of off-chain data   Risk of rollback   The incentive mechanism of Bosu theory. The risk increases when the funds inside Rollup increase.   Cryptography, arbitrariness and abandonment theory. A third-party credit is required.   Cryptography, permission chain, and transaction links are transparent.  
Performance (TPS) Thousands   Thousands   2000 500 140,000+
Performance compared to ETH Hundreds of times   Hundreds of times   About 140 times About 35 times About 10,000 times  
Gas fee 0 A small amount   A small amount   A small amount   0
On chain transaction cost Low   Low   Medium High   Extremely low  
Effectiveness validation    arbitration mechanism   Challenge afterwards   Fraud proof   Zero-knowledge proof   S-SPV certificate (strict simple payment verification)
Withdraw time One confirmation 1-2 weeks   7 days   7 days   < 1 minute
Smart contract compatibility  Restricted   Restricted   Compatible   Restricted   Compatible  
Advantages and disadvantages Advantages: suitable for high-frequency transaction. The off-chain high-speed payment channel can reach thousands of transactions per second.   Disadvantages: 1. Only for specific applications. Participation is not open. 2. The user needs to lock the funds in the multi-sign contract in advance. 3. Extended universal smart contracts are not supported. Advantages: You can create multiple plasma sub-chains as required. The transaction speed in the sub-chain is faster, and the handling fee is low.   Disadvantages: 1. The waiting time for withdrawing funds to layer-1 is too long. 2. The extended general smart contract is not supported.   Advantages: support the existing general smart contract EVM, strong composability   Disadvantages: long withdrawal cycle, and low capital utilization Advantages: The user’s withdrawal is fast.   Disadvantages: 1. Existing general contracts are not currently supported 2. High technical difficulty 3. Threat of OP Rollup ecology   Compatible Advantages: efficient transaction, 0 gas fee, short withdrawal time   Disadvantages: high technical difficulty in cross-chain development  

As shown in the table, Agalta Protocol stands out among many projects with excellent overall performance. It is very suitable as the best L2 solution that supports high-performance applications under the main net Ethereum L1.

Editor’s note

We have enough reason to believe that the landing of Layer 2 and Ethereum 2.0 will have the chance to become an important fuel for the second expansion of Ethereum market. And this will eventually make Ethereum to a financial giant with over one trillion US dollars. In the future, Agalta Protocol will play a major role in L2 ecosystem construction, and develop to an important infrastructure of the global blockchain, let’s witness the history together.

https://medium.com/@agaltaprotocol

https://twitter.com/AgaltaProtocol

https://medium.com/@agaltaprotocol

About Author

Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Related Topics:
Continue Reading

Press Release

UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections

Published

1 day ago

on

November 23, 2024

By

DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.

Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”

The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.

In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.

The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

Press Release

UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

Published

1 day ago

on

November 23, 2024

By

DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.

Global Compliance Credentials of UVKXE

UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:

U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.

U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.

Background on the Malaysian Public List

The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.

Commitment to Legal Compliance and User-Centric Values

UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

Press Release

UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms

Published

1 day ago

on

November 23, 2024

By

DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.

Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”

The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.

Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”

In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.

Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

LATEST POST

Like Us
Follow Us
Subscribe Us
Follow Us