Connect with us

Press Release

Comparing Layer-2 Solutions on Ethereum and Ethereum Classic

Published

on

Dubai, UAE, 8th September 2024, Ethereum (ETH) and Ethereum Classic (ETC) are frequently likened due to their shared history, similar names, and widely discussed separation of ways after the 2016 DAO hack. Because both networks encounter scalability issues, with ETC to a lesser degree for now, layer-2 solutions (L2) have become a pressing topic for both communities. Let’s delve into it.

The History Behind 

Ethereum and Ethereum Classic have a joint origin, both stemming from the initial Ethereum platform. The rift within that platform occurred due to an infamous event referred to as the DAO hack. The DAO, one of the most notable crowdfunding campaigns in crypto history, raised an immense amount of ETH that was later stolen due to a flaw in the code. The latter caused severe disagreements within the Ethereum community and eventually resulted in a hard fork in the Ethereum blockchain. The new chain, which reverted to its state before the DAO attack, kept the original name, while the unreverted version continued its operation and was rebranded as Ethereum Classic.

Both chains initially employed the Proof-of-Work (PoW) consensus mechanism, with Ethereum moving to the Proof-of-Stake (PoS) one later. While this decision helped to improve scalability, it was not a sufficient solution in the long term. So, it is unsurprising that these two blockchains have been actively exploring L2 solutions. Such solutions are developed on top of any blockchain, called layer 1, to enhance its performance.

Ethereum’s L2 Solutions 

Ethereum has gained widespread adoption as a blockchain network, renowned for its vibrant ecosystem of dApps, DeFi platforms, and aspiring developers who choose Ethereum as a base for their products and services. Therefore, the question of enhancing scalability has been especially pressing for Ethereum compared to other chains. The introduction of Ethereum 2.0 represented a major milestone in the network’s evolution. This upgrade includes the implementation of the PoS approach mentioned above. 

Some may argue that Ethereum has led the way in developing and implementing a variety of layer-2 solutions, such as rollups, state chains, sidechains, and nested blockchains. All those solutions are aimed at handling thousands of transactions per second, opening a door for fresh opportunities to expand the Ethereum landscape. 

Another major challenge Ethereum faces is gas costs. This issue persists even after PoS adoption, negatively affecting user experience when swapping ETH. L2 solutions play a crucial role in solving this issue by moving transactions off-chain and thus significantly reducing fees. This fee reduction enhances the accessibility of the Ethereum network, making it more cost-effective for a broader range of users and applications to participate in the ecosystem.

One of the downsides of many of Ethereum’s L2 solutions is trust. While many crypto enthusiasts do believe in this blockchain, which is evident from its popularity, they are not so keen on L2 solutions, treating them with caution. And rightfully so. While Ethereum may be robust, such solutions may become its weak points if they are less thoroughly designed and audited and, therefore, more vulnerable to hacks. Consequently, it becomes a significant area for L2 builders. 

Ethereum Classic’s L2 Solutions 

Ethereum Classic is a much smaller blockchain, ranked thirtieth according to its market cap at the time of writing. Although it has fewer L2 solutions than Ethereum, it has enthusiasts eager to make this chain more efficient and scalable without compromising its security.  

As mentioned above, ETC’s security is supported by its dedication to the PoW consensus mechanism and immutability, which has established a strong foundation for solutions and products. However, the limited creation and adoption of L2 solutions also means there might have been fewer improvements in scalability compared to Ethereum.

When it comes to cost efficiency, ETC transactions are usually cheaper than Ethereum due to lower network congestion. However, the development of L2 solutions has the potential to decrease transaction expenses even further.

One disadvantage of the Ethereum Classic that is linked to the L2 solutions is the size of its community. Since it is less prevalent than Ethereum, there is far less activity and liquidity. Consequently, there is far less motivation to choose this network for developing new solutions, including L2s. In addition, while ETC has good interoperability with Ethereum’s apps and tools, it may backfire, drawing potential users and builders to ETC’s biggest competitor instead.

Conclusion

Both Ethereum and Ethereum Classic are focusing on implementing layer-2 solutions to address their scalability challenges. Although Ethereum is taking the lead in this and other regards, Ethereum Classic continues to grow and develop, not giving up the chance to give good competition to its rival. No matter the result of this rivalry, both networks will gain from improved scalability, ultimately making blockchain technology more accessible and efficient for users worldwide.

Kinetex Network: Website | Kinetex dApp | Blog

About Author

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

$LEIA token soars 2400% on its first day, showing the market is bullish on casual skill-based gaming in Web3

Published

on

After raising a record $3M+ in its debut on Gems Launchpad, Leia hits the market today with a remarkable opening. Leia offers a diverse platform for casual gamers entering the crypto space via familiar and accessible mobile games

Limassol, Cyprus — Gems, a community-driven launchpad built around an exclusive investor network, celebrates the success of one of its leading launches: Leia, a Web3 gaming company offering a platform of skill-based mini-games. After securing $3M on Gems Launchpad, Leia meets the market today, itching $0.0195 in its peak on its first day. The initial token price on Gems Launchpad was $0.0001.  

Leia Games offers an interactive way to play multiple small but casual games on one platform. Often called the “TikTok of gaming,” Leia features numerous skill-based games that use the same in-game currency. This creates an interoperable ecosystem that draws people in. Leia leverages Gems’s launchpad to expand its “Pikmi” gaming platform, boost its marketing efforts, and conduct alpha testing for its core titles.

Understanding and playing—let alone enjoying—Web3 games, which typically focus on the speculative NFT market and complex play-to-earn mechanics, can be challenging and time-consuming. While a miniscule niche market still exists for these Web3 games, the blockchain-based gaming sector has largely ignored the popularity of the casual mobile gaming sector, which makes up 61 percent of the overall gaming market, reaching a value of more than $130 billion in 2022. 

Leia Gems is led by a team of industry veterans from Playtika.com with extensive experience designing successful and engaging mobile titles catered to casual gaming audiences. The team has designed an “Intelligent Matching System” to ensure fair and transparent contests featuring a skill-tracking algorithm that continuously monitors player performances to enforce balanced matches.

Gems Launchpad’s mission is to support projects with the most disruptive potential. Its latest project is NFA Club, a gamified, AI-powered trading app featuring curated insights from key opinion leaders (KOLs). NFA Club’s first private sale funding round on Gems Launchpad began on December 4, and will be raising funds over a series of 12 rounds.

$LEIA will be listed on Gems Trade, the new crypto exchange set to be released soon.

About Gems:

Gems is a distinguished crypto launchpad with the mission of un-earthing genuine “gems” in the Web3 landscape through rigorous due diligence. The platform aims to bring together a robust ecosystem for blockchain projects by focusing on launching innovative ventures, expanding communities, penetrating new markets, and leveraging its international network of investors, known as Leaders, to partake in the early stages of groundbreaking projects. Gems launchpad model is driven by active community participation, creating a synergistic environment that benefits both visionaries and the adoption of pioneering ideas. For more information, visit: https://gems.vip/

About Leia:

As the first company offering casual mobile games with a real monkey skill game twist in the Web3 space, Leia’s lineup includes casual puzzles, strategy games, and competitive casual eSports titles. By focusing on both casual fun and competitive mobile games which include in-game tournaments, Leia caters to a wide range of gaming preferences and skill levels. The $LEIA token serves as the primary currency within Leia’s ecosystem and is used to enter tournaments, purchase in-game items, and participate in community events. For more information, visit:  https://www.leia.games/

Media Contact:

alona@reblonde.com

Marketing@gems.vip

name: Alona Stein

About Author

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

Assetsite Expands Investment Horizons in Chip Industry

Published

on

Assetsite is a leading cryptocurrency trading platform, renowned for its innovative approach to digital assets. Known for providing a user-friendly and robust environment for cryptocurrency traders, the company is now taking a bold step toward diversifying its investment portfolio. Assetsite has announced plans to invest in the chip industry, a strategic move that signals the company’s ambition to tap into the growing demand for semiconductor technologies.

United States, 9th Jan 2025 – With the global shift toward digital transformation and the increasing reliance on technology, the chip industry is poised for significant growth. Assetsite recognizes the vast potential of this sector and aims to leverage its resources to contribute to its development. The investment is expected to complement Assetsite’s existing focus on cryptocurrencies while exploring new opportunities in the tech-driven economy.

Why Invest in the Chip Industry?

Assetsite’s decision to invest in the chip industry comes at a time when the demand for semiconductors is soaring. Chips are the foundation of modern electronics, from smartphones and laptops to advanced artificial intelligence (AI) systems and autonomous vehicles. These critical components are essential to a wide array of industries, and their importance is only expected to grow as technology continues to evolve.

Here are some reasons why Assetsite believes this investment will be a key factor in the company’s growth strategy:

The Rise of Digital Technologies: As digital technologies such as AI, blockchain, and cloud computing gain prominence, the demand for semiconductors is rapidly increasing. Chips power everything from data centers to electronic devices, making them indispensable in today’s tech-driven world. Assetsite sees the chip industry as a high-growth sector with significant long-term potential.

Diversification of Investment Portfolio: Although Assetsite has carved out a strong position in the cryptocurrency market, the company recognizes the value of diversification. By branching out into the chip industry, Assetsite is ensuring its investment portfolio is balanced and resilient to market fluctuations. The chip industry offers a stable, technology-driven market that complements the volatility of the crypto world.

Tech Synergies with Cryptocurrency: As a company deeply entrenched in the cryptocurrency market, Assetsite understands the importance of cutting-edge technology in powering digital assets. Semiconductor technologies play a crucial role in supporting the infrastructure for cryptocurrency mining, blockchain systems, and other decentralized technologies. Assetsite plans to explore how its investments in chips can directly benefit the crypto ecosystem.

Long-Term Market Growth: The semiconductor market is expected to continue its expansion over the next few decades. With the rise of emerging technologies such as 5G, autonomous driving, and the Internet of Things (IoT), the demand for high-performance chips will only increase. Assetsite sees this as an opportunity to align itself with long-term market trends that show no signs of slowing down.

Innovation and Future-Proofing: Innovation is at the heart of Assetsite’s investment strategy. By investing in the chip industry, the company is positioning itself to take advantage of the technological breakthroughs that are driving the evolution of modern electronics. Whether it’s the development of more efficient chips or breakthroughs in AI and quantum computing, Assetsite is keen to be part of the next wave of innovation.

About Assetsite

Assetsite is a prominent cryptocurrency trading platform dedicated to providing a seamless and efficient environment for traders worldwide. The platform offers a wide range of digital assets, enabling users to trade with ease. Since its inception, Assetsite has maintained a strong focus on innovation and user experience, ensuring both new and experienced traders have the tools they need to succeed in the fast-paced world of cryptocurrency.

Media Contact

Organization: Assetsite Ltd

Contact Person: Lee

Website: https://assetsite.com

Email: Send Email

Address: 1776 N Broadway, Denver, CO 80290, US

Country: United States

Release Id: 09012522456

The post Assetsite Expands Investment Horizons in Chip Industry appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

About Author

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

Human Trafficking Under the Spotlight: Scientology’s International Campaign

Published

on

In its efforts to uphold rights worldwide the Church of Scientology plays a significant role in the fight, against human trafficking by raising awareness through campaigns and educational programs and collaborating internationally. Scientologists are actively involved in preventing exploitation and aiding survivors by advocating for the values outlined in the Universal Declaration of Human Rights (UDHR) as well as partnering with organizations that address trafficking from its core. The commitment to this cause was showcased during a town hall event at the Church of Scientology in Seattle where both local and global professionals discussed the importance of education and laws in combating human trafficking while supporting those at risk.

A Multi-Faceted Approach to Combat Trafficking

The recent community event held by the Church of Scientology in Seattle brought attention to the concerning problem of trafficking with a specific emphasis on child sex trafficking, in Washington state. The gathering coincided with UN International Human Rights Day and centred around the theme “Our Rights, Our Future, Right Now.” Notable speakers shared insights. Rallied for immediate action to combat this widespread issue.

Butch Yarnell captivated the audience with a speech during his keynote address as the Eastern Washington & Idaho Regional Coordinator, for Shared Hope International. He shed light on the mission of Shared Hope International to combat sex trafficking through prevention efforts and interventions and highlighted the truth of trafficking in Washington. Yarnell stressed the importance of taking steps and garnering legislative support to disrupt trafficking operations and provide aid to those who have survived such ordeals.

In 2024 in Washington state there have been new laws passed with Senate Bill 6006 making a strong impact on empowering survivors by providing civil protection orders and victim compensation without time limits while also getting rid of the statute of limitations for prosecuting sex trafficking cases. The mention of Seattle as a point in a trafficking network that reaches as wide as Honolulu and Canada highlights the ongoing need for vigilance and support, for this issue as noted by Yarnell.

 

Youth Education as a Preventative Tool

Dave Scattergood from Youth for Human Rights presented materials designed to educate young individuals about their essential human rights inspired by the Universal Declaration of Human Rights (UDHR). These resources consist of brochures, videos and a complimentary online program accessible on the website of this international organization. 

Scattergood emphasized the importance of education in stopping exploitation by saying; “It is vital that our youth are educated on their basic human rights to help prevent them becoming victims of human trafficking crimes”.

 

European Perspectives

On 24 January 2024, EUROSTAT published the 2022 statistics for trafficking in human beings. The newly released data showed that 10,093 victims of trafficking in human beings were registered in the EU in 2022, representing a 41% increase compared to 2021.

Despite the rising number of registered victims, the number of convicted traffickers remains significantly lower. In 2022, there were 2,097 convicted traffickers in the EU, reflecting a 16.7% decrease compared to 2021. This disparity underscores the challenges in effectively prosecuting and convicting individuals involved in human trafficking.

In Europe’s sphere of influence Ivan Arjona, Scientology representative to the European Union and the UN, has spoken numerous times urging authorities and civil society for a unified strategy to tackle human trafficking throughout the continent. Through different conversations and meetings, Arjona has highlighted the importance of international partnerships and extensive educational initiatives. “Human trafficking represents an unforgivable infringement on fundamental human rights. In Europe it is imperative that we enhance collaboration across borders, safeguard victims of trafficking, prosecute offenders and hold perpetrators accountable with the full force of the law” he emphasizes. 

Arjona suggests boosting funding for community outreach efforts in areas at risk and advises governments to take a tough stance on those involved in trafficking activities, while calling for empowering civil society organizations to engage youth in educational programs to fight against human trafficking.

 

A Global Crisis with Local Impact

The International Labor Organization estimates that 27.6 million individuals are trapped in forced labor worldwide, generating $236 billion annually in illegal profits. In Washington state alone, the National Human Trafficking Hotline identified 202 cases last year, involving 367 victims. These stark figures highlight the urgency of addressing this crisis on both local and global scales.

Scientology founder L. Ronald Hubbard‘s aims for human rights to become a reality and not just an idealistic dream, has been a driving force for the Church of Scientology’s dedication to promoting education and activism around human rights issues. Every church worldwide plays a role in engaging with the community and providing support for initiatives like United for Human Rights and Youth for Human Rights, establishing chapters wherever possible. The original series Voices for Humanity on the Scientology Network documents the remarkable results achieved by the program.

The Seattle forum, like many initiatives by the Church of Scientology worldwide, reinforces the importance of collective action in eradicating human trafficking. From legislative advocacy to education and community engagement, the path forward requires collaboration among governments, NGOs, and civil society. As Ivan Arjona well summarizes, “Only through awareness, action, and accountability can we hope to turn the tide against this modern-day slavery.

Media Contact

Organization: European Office Church of Scientology for Public Affairs and Human Rights

Contact Person: Ivan Arjona

Website: https://www.europeanaffairs.eu

Email: scientology@europeanaffairs.eu

Address: Boulevard de Waterloo 103

City: Brussels

State: Brussels

Country: Belgium

Release Id: 09012522457

The post Human Trafficking Under the Spotlight: Scientology’s International Campaign appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

About Author

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