In today's digital age, blockchain technology has become a hot spot for technological innovation due to its unique decentralized nature and security. Especially Ethereum, as the world's leading smart contract platform, its network continues to face challenges of scalability and high transaction fees.

In this context, Layer N, as a revolutionary Ethereum Layer 2 solution, is not only committed to addressing these challenges, but also driving the entire blockchain network towards higher efficiency and scalability. On June 23, Layer N launched its testnet V1.2, signaling a dual improvement in its technological maturity and market acceptance.

Layer N was born to address the network congestion and high transaction costs caused by the surge in Ethereum users. Its core mission is to improve network scalability and efficiency while optimizing user experience, especially in transaction speed and cost.

Layer N's Technical Iteration and Version Updates:

The following highlights the technical iteration of the project.

Staged release of the testnet: Layer N's test network consists of three important stages, each targeting different technical implementations with specialized optimizations and adjustments. The first stage introduced NordVM, the first XVM implementation on Layer N, providing ultra-low latency and high throughput transaction processing. The second stage introduced NEVM, a public Ethereum Virtual Machine (EVM) chain, enhancing compatibility with the Ethereum mainnet. The third stage integrated StateNet, a unified communication layer supporting efficient cross-chain communication and data sharing.

Innovation of StateNet: As one of Layer N's core technologies, StateNet has achieved a highly scalable network capable of handling large-scale node interactions without sacrificing security and stability. This system allows independent XVM nodes to continuously engage in peer-to-peer communication, significantly reducing transaction and message latency.

Continuous technological upgrades: With the launch of Testnet V1.2, Layer N further strengthened its platform for developers and users to test functionality and performance. This version marks an important step for Layer N in improving blockchain network scalability and efficiency, reflecting its continuous efforts in blockchain technology innovation.

Introduction to Layer N's Financing and Specific Functions:

Financing and Market Expansion:

September 2023 Financing: Layer N completed a $5 million financing round led by Founders Fund and dao5, with participation from SALT, Kraken Ventures, Mirana Ventures, GSR, and Amber Group. This funding injection aims to drive the deployment of the public testnet and the development of the Nord Rollup network to enhance its financial application and on-chain transaction processing capabilities.

Strategic investment expansion: In November 2023, Layer N received strategic investment from BlackPine, marking its formal entry into the Asian market and expanding the availability of native Web3 products.

Liquidity support in 2024: Amber Group pledged $20 million in support for Layer N's liquidity program to help the early protocol enter the market. This program focuses on leveraging the StateNet architecture to drive innovation and compete with traditional financial institutions.

Function Expansion and Innovation:

Enhanced security: Advanced encryption technology and smart contract auditing mechanisms have been introduced to enhance network security.

Performance improvement: Through proprietary optimization algorithms and protocols, Layer N has significantly improved network performance and reliability, especially under high load conditions.

Meeting future challenges:

Layer N continues to innovate technically, exploring cutting-edge technologies such as zero-knowledge proofs to meet future market demands and technological challenges. Based on this, the project needs to strengthen the developer community, provide more development tools and support, and promote the prosperous development of the ecosystem.

Overview of Layer N's Testnet V1.2:

Layer N's testnet V1.2 brings several core features and innovations, providing new impetus for the advancement of Ethereum's Layer 2 solution. The following are the main features and technological innovations of V1.2:

Performance improvement: V1.2 significantly improves network performance by optimizing data processing, reducing transaction confirmation time, and enhancing the overall network's processing speed and efficiency.

Enhanced security: More stringent security protocols and encryption technologies have been introduced to ensure that all transactions conducted on Layer N meet the highest security standards.

User experience improvement: User interface design has been improved to provide a more intuitive and user-friendly operational experience, making it easier for developers and users to access and use the network.

Technological innovation: V1.2 integrates the latest blockchain technologies, such as improved smart contract functionality and advanced verification mechanisms, enabling Layer N to handle more complex transactions and provide more flexible application scenarios.

Conclusion: Layer N may play an important role in the commercial trajectory of blockchain

The release of Layer N's testnet V1.2 not only signifies the continuous progress of technological innovation but also provides a more stable and efficient testing environment for the blockchain community. Through this platform, developers can thoroughly test and optimize their applications before actual deployment, which is of great significance in accelerating the commercial application and popularization of blockchain technology. With more feature implementations and performance improvements, Layer N is gradually demonstrating its important role and potential in the global blockchain ecosystem.

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