Regardless of the decline in throughput, Tier 2 TVL nonetheless hit an all-time excessive.
The well-known Ethereum Layer 2 staff is able to undertake a brand new rollup customary that may enhance L2 interoperability with mainstream applied sciences.
February 10, rolling declare Finalization of the primary abstract enchancment proposal, RIP-7212.
The brand new customary helps precompilation of the secp256r1 curve, which is broadly used on the Web. The brand new customary goals to enhance the compatibility of good contract execution with current {hardware} and software program distributors, together with Apple and Android. For instance, the usual may facilitate transaction signing via biometric authentication on cellular units.
“All technical makes use of [secp256r1]so precompiling it can enable the important thing to be saved within the iPhone safe enclave,” Tweet Tim Beiko of the Ethereum Protocol Affiliation.
The brand new requirements have been finalized on the RollCall assembly on February 7, a collaboration assembly between the famend Layer 2 groups.
Polygon has dedicated to implementing the usual in an upcoming Napoli improve, whereas ZkSync is getting ready to undertake RIP-7212 round April, Scroll stated. Optimism and Kakarot are additionally working to combine the brand new customary, the staff added. Evmos is a Cosmos-based community that helps Ethereum good contract execution and in addition moved to help this customary.
“A minimum of three Rollup groups have dedicated to implementing this new customary,” Scroll tweeted.
The usual was first described as an Ethereum Enchancment Proposal (EIP) in June 2023, however was later reimagined as a rollup improve as most layer 2s started introducing native help for account abstractions.
Scroll additionally celebrated the finalization of RIP-7212, laying the muse for future enchancment proposals designed particularly for Rollups.
“This week’s RollCall Breakthrough Name was an attention-grabbing exploration of how standardized frameworks evolve and mature over time,” Scroll stated.
The information comes as Layer 2 networks’ whole worth locked (TVL) hits an all-time excessive amid latest bullish momentum in digital asset markets.
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In keeping with L2beat, there are presently over $23.3B value of cryptocurrency held on Ethereum Layer 2. Arbitrum presently has 49% market share and is approaching a brand new excessive of roughly $11.5B, adopted by Optimism with a dominant 26% place and a TVL of $6B.
Nevertheless, on February 9, on-chain exercise on the Layer 2 community additionally dropped to 41.5 transactions per second (TPS), the bottom degree since December 1.
