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What is EtherLink?

Published at
7/28/2023
Categories
tezos
blockchain
ethereum
etherlink
Author
Shreyas Singh
What is EtherLink?

Etherlink is a technology built on the Tezos blockchain that aims to provide a fully decentralized solution for Ethereum's Layer 2 (L2) scaling. Let's break down what that means:

Ethereum L2 Solution: Ethereum is a popular blockchain platform that supports smart contracts and decentralized applications (dApps). However, as the network becomes more popular, it faces challenges with scalability, causing high fees and slower transaction times. Layer 2 solutions are created to address these issues and improve the performance of Ethereum-based applications.

Built on Tezos: Instead of creating a separate blockchain from scratch, Etherlink leverages the Tezos blockchain, which is known for its self-amending capability and efficient proof-of-stake consensus mechanism. Tezos provides a strong foundation for Etherlink's operation.

Decentralization: Etherlink takes decentralization seriously. It aims to empower users and avoid central control by utilizing smart rollups on Tezos, which are more cost-efficient and resilient.

Governance: Etherlink's governance model is inspired by Tezos Layer 1 governance. This means that decisions regarding the operation and upgrades of Etherlink are not made by a select few but follow a decentralized decision-making process, allowing the community to participate and influence the platform's evolution.

Scalability and Speed: Tezos has a track record of continuously improving its performance, and this commitment extends to Etherlink. As a result, Etherlink is expected to offer better scalability and faster transaction speeds compared to the main Ethereum network.

Overall, Etherlink aims to provide businesses and developers with a platform that combines the benefits of Ethereum's ecosystem with the advantages of Tezos' decentralized governance and scaling capabilities. By using Etherlink, users can be part of a blockchain revolution that promises to be more open, secure, scalable, and cost-effective. If you're interested in experiencing Etherlink, you can sign up to be notified when it launches.

Register Here: EtherLink

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