{"id":1696,"date":"2024-10-26T08:32:59","date_gmt":"2024-10-26T08:32:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1696"},"modified":"2024-10-26T08:32:59","modified_gmt":"2024-10-26T08:32:59","slug":"cardano-to-launch-first-permissionless-layer-2-outpacing-ethereum","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1696","title":{"rendered":"Cardano To Launch First Permissionless Layer 2, Outpacing Ethereum"},"content":{"rendered":"
\n

Cardano is set to unveil its first permissionless Layer 2 (L2) solution, positioning itself ahead of other blockchains like Ethereum. The announcement was made during the Cardano Summit 2024 in Argentina<\/a>, where Philip DiSarro, CEO and founder of Anastasia Labs, detailed the forthcoming launch of Midgard, an optimistic rollup designed to enhance ADA\u2019s scalability and functionality.<\/p>\n

DiSarro highlighted<\/a> the unique advancements of Midgard via X, stating, \u201cNot a single blockchain has managed to achieve true permissionless general purpose rollups. At the end of the day, the top \u2018L2s\u2019 in the blockchain space right now are all custodial multisigs.\u201d He emphasized that existing L2 solutions predominantly rely on custodial multisignature schemes, which introduce centralized elements into the otherwise decentralized blockchain environment.<\/p>\n

Cardano Is Ahead Of Ethereum, Solana And Sui<\/h2>\n

Midgard distinguishes itself by inheriting the full security of Cardano\u2019s Layer 1 (L1) through several innovative features. In contrast to Ethereum\u2019s L2 like Arbitrum<\/a>, Optimism and Base, Midgard operates without a centralized sequencer, challenge response proofs, multisignatures, or custodians. Instead, it utilizes a permissionless operator set, trustless fraud proofs, and trustless deposits and withdrawals, ensuring that the inbox and outbox mechanisms remain fully censorship-resistant.<\/p>\n

Via X, DiSarro highlighted Cardano\u2019s unique local state Extended Unspent Transaction Output (EUTxO)<\/a> architecture. \u201cThis is all made possible by Cardano\u2019s unique local state EUTxO architecture. UTxO contention, small block size, local state, transaction determinism\u2014 all of these \u2018problems\u2019 may have led you to question why these design choices were made. Midgard aims to show you that these are actually not problems at all.\u201d<\/p>\n

The founder Anastasia Labs also further argued: \u201cIn fact, quite the opposite; they are extremely powerful properties that, together, provide unique value that simply does not exist in any other ecosystem. These are, in actuality, the core pillars that make Midgard even possible in the first place,\u201d DiSarro explained.<\/p>\n

Midgard\u2019s architecture purportedly leverages the inherent strengths of ADA\u2019s design, making it unfeasible to replicate on other blockchain platforms such as Ethereum, Solana, or Sui. DiSarro asserted, \u201cYou cannot build Midgard on Ethereum, Solana or Sui. It is a protocol that is only possible on Cardano.\u201d<\/p>\n

The impending launch of Midgard is anticipated within the next few months, with DiSarro confidently predicting its impact: \u201cTrue rollups, L2 protocols that inherit the full security of the L1, are coming in the next few months. Our optimistic rollup, Midgard, is a first of its kind permissionless rollup.\u201d<\/p>\n

The announcement garnered attention from within the ADA community and beyond. Danogo, operating the first decentralized exchange (DEX) trading Optim Bond tokens on Cardano, referenced DiSarro\u2019s presentation on the Cardano Summit: \u201cOnly on Cardano you can have a new generation of Rollup that is permissionless! There is no multi sig that controls the Layer-2 like on Ethereum! Even Vitalik recognizes that now. [\u2026] That inherits full security from L1. And Cardano will have the first L2 that is fully permissionless in a few months!!!!\u201d<\/p>\n

Furthermore, Charles Hoskinson, the founder of Cardano, responded<\/a> to the discourse with a meme on X stating, \u201cThis guy gets it,\u201d signaling endorsement of DiSarro\u2019s vision and the potential of Midgard.<\/p>\n

At press time, ADA traded at $0.343.<\/p>\n

\"Cardano<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano is set to unveil its first permissionless Layer 2 (L2) solution, positioning itself ahead of other blockchains like Ethereum. The announcement was made during the Cardano Summit 2024 in Argentina, where Philip DiSarro, CEO and founder of Anastasia Labs, detailed the forthcoming launch of Midgard, an optimistic rollup designed to enhance ADA\u2019s scalability and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1696","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1696"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1696\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}