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Comparing Layer-2 Solutions on Ethereum and Ethereum Classic

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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

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Press Release

AIA Labs Introduces AIA Chain: A Game-Changing Blockchain for Financial Transactions

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AIA Labs, a trailblazer in blockchain innovation, has officially launched AIA Chain, a next-generation blockchain platform designed specifically for high-performance financial transactions. Fully compatible with the Ethereum Virtual Machine (EVM), AIA Chain integrates cutting-edge technology with unparalleled speed, scalability, and cost-efficiency, making it a leader in decentralized finance (DeFi), blockchain payments, and Web3 infrastructure.

Why AIA Chain Stands Out in the Crypto Ecosystem

AIA Chain is setting new benchmarks in the crypto and blockchain industries, addressing key challenges such as transaction speed, scalability, cost-efficiency, and regulatory compliance. Its unique features make it a compelling choice for developers, institutions, and users seeking innovative solutions in the rapidly evolving world of blockchain technology, cryptocurrencies, and smart contracts.

With the global digital payments market projected to reach $20 trillion by 2030, AIA Chain is strategically positioned to become a cornerstone of blockchain-based payment infrastructure.

Unrivaled Transaction Speed and Low Fees

AIA Chain is redefining the standards for blockchain payments with:

  • Over 100,000 transactions per second (TPS): AIA Chain surpasses the performance of major blockchains like Ethereum, Binance Smart Chain (BSC), and Solana.
  • Ultra-low transaction costs: At just $0.0002 per transaction, AIA Chain outperforms many leading blockchains, making it ideal for high-frequency use cases such as crypto payments, remittances, and DeFi protocols.
  • Meta-transaction mechanism: AIA introduces this advanced feature to lower the barriers for both developers and users, enhancing usability and adoption.

Built for DeFi, Web3, Gamefi, On-chain AI Agent and Beyond

AIA Chain is fully compatible with Ethereum, enabling seamless migration of projects and smart contracts. This makes it an ideal platform for developers building DeFi apps, NFT marketplaces, metaverse projects, and GameFi ecosystems. The platform’s focus on scalability and interoperability ensures that projects can thrive in a rapidly growing Web3 world.

Key Features of AIA Chain

APoS Consensus Mechanism and ISN Architecture

AIA Chain employs Adaptive Proof of Stake (APoS) and a unique Internet Sharding Network (ISN) architecture. These innovations:

  1. Prevent centralization and whale manipulation, ensuring a fair and secure network.
  2. Increase transaction throughput and enhance the platform’s decentralization.
  3. Drive high network activity, making AIA Chain a dynamic and robust ecosystem.

EVM Compatibility and Developer-Friendly Tools

By being fully compatible with EVM, AIA Chain simplifies project migration from blockchains like Ethereum, Binance Smart Chain, and Polygon. The inclusion of AVM (AIA Virtual Machine) provides developers with advanced tools to build scalable and innovative solutions, enabling smart contract deployment and decentralized application (dApp) development with ease.

Scalability and Layer 2 Solutions

AIA Chain supports Layer 2 scaling solutions and cross-chain interoperability, offering developers the tools to create applications that transcend blockchain silos. These features unlock vast potential for DeFi ecosystems, cross-border crypto payments, and enterprise blockchain solutions.

Focus on Compliance and Institutional Adoption

AIA Chain prioritizes regulatory compliance in global markets, providing a secure and legally compliant environment for both institutional and individual users. This focus positions AIA Chain as a preferred platform for enterprise blockchain adoption, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi).

Developer and Ecosystem Support

The AIA Foundation actively supports promising projects with funding, technical guidance, global roadshows, and marketing resources. By fostering developer growth, the foundation aims to build a vibrant, innovative ecosystem that accelerates the adoption of blockchain technology and cryptocurrency worldwide.

Transforming the Blockchain Landscape

AIA Chain’s unique combination of speed, affordability, and developer-friendly features positions it as a transformative force in the blockchain industry. Its applications span:

  • DeFi Protocols: Supporting decentralized exchanges (DEXs), liquidity mining, and innovative yield farming strategies.
  • Crypto Payments: Optimized for real-time, low-cost transactions in retail and institutional markets.
  • Gamefi, Ai-Fi, Memecoin, NFT and Web3 Ecosystems: AIA Chain provides a scalable foundation for Gamefi, Ai-Fi, Memecoin, NFTs, metaverse projects, and decentralized governance applications.
  • Enterprise Adoption: With a focus on compliance and scalability, AIA Chain bridges the gap between traditional financial systems and blockchain technology.

About AIA Labs

As the operational backbone of AIA Chain, AIA Labs is committed to fostering a dynamic and inclusive blockchain ecosystem. By providing technical leadership, regulatory insights, and developer support, AIA Labs is empowering a new generation of blockchain applications in DeFi, Web3, and beyond.

Support for Developers:

The AIA Foundation, managed by AIA Labs, offers comprehensive support for promising projects, including funding, technical assistance, and global marketing resources. By lowering barriers to entry, AIA Labs accelerates adoption and innovation within the blockchain space.

Focus on Compliance and Stability:

AIA Labs prioritizes compliance with regulatory frameworks across key global markets, establishing AIA Chain as a reliable platform for institutions and individuals alike, providing a compliant and secure platform for institutions and individuals. This commitment to compliance establishes AIA Chain as a preferred choice for financial applications requiring high-frequency transactions and reliability.

For more information, visit AIA Labs Website.

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Press Release

Tradeview Markets Shines at Finance Magnates London Summit 2024

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London, UK, 26th November 2024, ZEX PR WIRETradeview Markets proudly stole the spotlight at the Finance Magnates London Summit 2024, a premier two-day event that brought together the biggest names in the financial industry.

With one of the best-looking booths, Tradeview’s presence was unmatched, attracting more attendees than any other exhibitor at the summit.

A Hub of Connection and Innovation
Tradeview´s team made the most of every moment, engaging with industry leaders, networking with professionals from across the globe, and showcasing cutting-edge technological advancements. Visitors at the booth not only experienced the future of trading but also left with exclusive giveaways—caps, ties, pens, and more—making Tradeview’s stands the ultimate destination at the summit.

Unforgettable Experiences and Star Power

In a highlight that wowed attendees, players from the Leicester Tigers men’s and women’s teams were at booth #31 to meet fans and take photos. This unique collaboration underscored Tradeview’s commitment to blending industry excellence with engaging, memorable experiences.

Adding to the excitement, models and influencers brought energy and style the booth, ensuring that Tradeview was a trending topic throughout the summit. From product demonstrations to interactive sessions, the buzz surrounding Tradeview Markets was electric.

A Bright Future for Tradeview Markets
“Tradeview Markets is thrilled to have been such a pivotal part of the Finance Magnates London Summit 2024,” said Tim Furey, CEO at Tradeview Markets. “This event provided an incredible platform for us to connect with the global financial community, showcase our innovations, and highlight what makes Tradeview a leader in the industry. The response was phenomenal, and we’re excited to continue building on this momentum.”

Looking Ahead
Tradeview Markets remains dedicated to pushing boundaries and leading the way in the financial services sector. With the success of the Finance Magnates London Summit 2024, the company is poised for an exciting year ahead, filled with innovation, growth, and continued industry leadership. Additionally, Tradeview Markets will participate in the Traders Fair in Hong Kong on December 14th.

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Press Release

China-Europe Industrial Innovation Zone: Creating a model zone for China-EU cooperation

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2024 marks the 21st anniversary of establishing a comprehensive strategic partnership between China and Europe, China-EU relations are showing good momentum of consolidation and development. China looks forward to the EU becoming a key partner in pursuing Chinese modernization, sharing opportunities in its vast market, institutional opening-up, and deepening international collaboration.

Wuxi, a core city in the Yangtze River Delta urban agglomeration, has attracted investments from European companies such as AstraZeneca, Bosch, and Siemens since China’s coastal opening up. The city has opened up China-Europe freight train services and direct cargo routes to Europe, fostering deepening economic and trade cooperation—Wuxi High-tech Zone, located in the hinterland of the Yangtze River Delta with convenient transportation links. Since becoming a national high-tech zone in 1992, it has incubated a robust ecosystem of technological innovation, housing numerous postdoctoral workstations, listed companies, and high-tech enterprises. Ranked 4th among China’s top 100 districts for high-quality development and 18th among 177 national high-tech zones, Wuxi High-tech Zone stands out as a beacon of growth.

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In November 2023, the Wuxi China-Europe Industrial Innovation Zone was officially launched.

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As an open window for China-Europe cooperation, the China-Europe Industrial Innovation Zone aims to promote high-level openness, serving as a platform for sharing opportunities globally, a bridge for deepening EU collaboration, and a forefront for innovation in China-Eu partnerships. By the end of 2023, EU countries states had invested in 166 projects in the Wuxi High-tech Zone, with a total investment of €15 billion. In 2023 alone, these projects generated sales revenue of RMB 118.23 billion and contributed RMB 8.18 billion in taxes.IMG_256

Spanning a total planned area of 24.5 square kilometers, the China-Europe Industrial Innovation Zone is situated in the Meicun area of the Wuxi High-tech Zone. The core area covers 7.7 square kilometers, with the initial development area along both sides of Xinhua Road spanning 1.15 square kilometers. Anchored in Meicun Street, the zone aims to become a model for China-Europe cooperation, providing a premium platform for the Wuxi High-tech Zone and the city of Wuxi to strengthen international collaboration. The first phase of construction has already reached the structural topping-off stage and is expected to be completed by March 2025.

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Building on Wuxi High-tech Zone’s solid foundation of international industrial cooperation, the China-Europe Industrial Innovation Zone adheres to a philosophy of integrated development of science, industry, and urbanization. It is actively developing four international cooperation sub-parks: the China-Germany International Cooperation Industrial Park, the China-France International Cooperation Industrial Park, the China-Switzerland International Cooperation Industrial Park, and the China-Israel International Cooperation Industrial Park.

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The China-Europe Industrial Innovation Zone targets an annual output value of RMB 160 billion and tax revenue exceeding RMB 8 billion. It aims to attract at least 30 European “hidden champion” enterprises, including over 10 multinational company headquarters. The zone will construct more than 500,000 square meters of innovation facilities and jointly establish at least three European industrial technology transfer centers. Efforts to attract major China-Europe cooperative projects are being intensified, with key EU-related projects such as Legrand, AML Systems, Schneider Electric, Faurecia, and Siemens accelerating their presence in the zone. The future focus will be on cutting-edge EU technologies and innovations, optimizing industrial structure and layout to position the zone as a leading provincial-level economic development zone, Wuxi High-tech Zone’s preferred industrial destination, and a top-tier international industrial cooperation zone renowned across China and the Yangtze River Delta.

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