Conflux Network and Injective Protocol announce their strategic collaboration through social media. Conflux network, an open network building next-gen e-commerce, took to its official Twitter handle to excitedly announce the strategic partnership. The partnership aims to achieve two goals: First, traverse through the existing assets of Conflux Network; second, create innovative derivatives and support its trading.
Inject Protocol, a universal Decentralized Protocol (DeFi), expressed its excitement on Facebook and Twitter; It’s thrilled to welcome Conflux Network and work on the phase 3 testnet. The company has achieved the incredible task of launching the Testnet early, making way for the early announcement of the mainnet launch.
In a blog post, Injective Protocol mentioned the collaboration would be spearheaded by computer scientist and Turing Award winner, Dr. Andrew Yao. The partnership is supported by industry giants like Sequoia China and Baidu Ventures. The blog expresses Conflux Network’s Founder, Fan Long’s views on the alliance. Injective’s contribution in innovating the derivative trading space is humongous, which will enable it to launch Conflux Network’s products in the market effectively.
Eric Chen, CEO of Injective Protocol, was thrilled to be associated with Conflux Network; he stated the collaboration is the first of its kind in the derivative market space. The strategic partnership would open a new dimension of innovative derivatives for its users that do not exist in the market at this point—the allies aim to work closely with assets present in layer one protocols to achieve that.
The post further highlighted the competitive advantages of the GHAST protocol and Conflux ecosystem: It supports as many as 3000+ transactions per second irrespective of any roadblocks in its way while abiding by all security protocols. Furthermore, Injective Protocol’s Ethereum Virtual Machine (EVM) functionality will smoothen the amalgamation of two ecosystems. Conflux Network’s compatibility with EVM and Solidity will enable smooth transfer of smart contracts from Ethereum to Conflux’s system.
Cartesi Unveils Optimistic Rollups Aiming to Reduce Ethereum Transaction Fees
The off-chain decentralized computation platform Cartesi has launched a layer-2 solution to work on top of the Ethereum blockchain. The so-called Optimistic Rollups aims to decrease the high transaction fees by orders of magnitude and support scaling by taking computational demands off-chain.
Cartesi’s Optimistic Rollups For The ETH Network
The Ethereum network, arguably the most utilized blockchain in the field with various ERC-20 tokens, stablecoins, and serving as the underlying technology behind the DeFi craze, has been congested over the past year. This caused issues with slow transactions and high fees, thus highlighting the need for scaling solutions.
Numerous layer-2 projects have rushed to assist, and the latest with such a product is Cartesi. The team announced in a press release shared with CryptoPotato that it had unveiled its Optimistic Rollups to “drive down the cost of interacting with the Ethereum network.”
The statement described the new product as a “secure and pragmatic approach to Ethereum’s scaling problems, given that the launch of ETH 2.0 is still some way off.” As previously reported, the long-anticipated transition to a proof-of-stake consensus algorithm has started, but it could take years to be entirely completed.
Cartesi’s solution will enable developers to bypass the constraints of Solidity and the Ethereum Virtual Machine (EVM) to code smart contracts on top of the same software stacks running on Linux.
The Optimistic Rollups come shortly after the project released its own virtual machine called Cartesi Machine. It allows Ethereum smart contracts to run “heavy and elaborate computations on top of Linux.”
Endgame: To Lower Transaction Fees
The idea behind Cartesi’s Optimistic Rollups is to lower the high transaction fees on the Ethereum network by order of magnitude, thus making the decentralized finance field “accessible at scale.”
Erick de Moura, Cartesi CEO, noted that scalable smart contracts running on Linux are a necessary step towards the maturity of the whole blockchain ecosystem.
“Allowing mainstream programmability means that dApp developers have an entirely new expressive power to create from simple to rather complex smart contracts. It also means opening doors for extensive adoption of regular developers who have never programmed for blockchain, as they will create decentralized applications with a coding experience similar to desktop or web.” – he added