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Escalation and gasless transactions arrive at Ethereum

May 6, 2020

Ethereum 2.0 is expected to launch in months, but new scaling solutions and gasless transactions are already available.. The network is becoming increasingly popular. The number of active purses has more than doubled to around half a million since January.

Synthetix scales optimistically

The developers of the second largest DeFi protocol, Synthetix has teamed up with the Optimism research team to start a demo deployment of Synthetix Exchange on the Optimism Virtual Machine (OVM)..

Optimism’s LMO is a Layer 2 scaling solution designed for enable DeFi financial platforms to operate at speeds comparable to those of centralized systems.

Escalation and gasless transactions arrive at EthereumEscalation and gasless transactions arrive at Ethereum

According to reports The use of scaling technology has led to significant performance improvementsThese include a 37.5-fold reduction in latency for Oracle updates, a 75-fold reduction in transaction delay, and a significant drop in gas prices for Oracle and exchange-related transactions.

The founder anticipated the movement earlier this year Kain Warwick told Cointelegraph that the existing Ethereum network still has a lot of life.

“Even if ETH 2.0 has not taken place, there are still many positive things in ETH 1,” he said, adding Optimism’s scaling solution enables thousands of transactions per second. That’s an order of magnitude more than the few transactions per second that were previously possible in Ethereum or Bitcoin.

“ETH has the potential to scale significantly without passing the participation test.”he said.

Biconomy launches beta for its main network

May 4th Biconomy threw Beta for your core network for your relay infrastructure.

The platform should enable gas-free interactions with DApp protocolsThis removes technical barriers to greater acceptance and makes it easier for DApps developers to integrate and manage users. Although it is currently a big help for Ethereum developers, it is actually agnostic for the blockchain.

The DApps that integrate Biconomy can access the applications via a familiar user name and password interfaceThis eliminates the need for technical interaction with intelligent contracts or gas prices.

The 10 best crypto developers work with Biconomy

In a blog post on May 6th Biconomy claims that its research targets gas optimization, relay development, and unpleasant user experiences that are among the main pain points that stifle innovation.

Swiss Post announced the 10 start partners of Biconomy: Matic Network, Torus, Daostack, Sapien Network, Dapp Pocket, Zefi, Alathea, Frontier Wallet, Fortmatic and Idle Finance; Finding strong demand for the promise of the protocol to improve customer and developer experience.

Active ETH users have doubled since January

Amid the growing popularity of DeFi and the eagerly awaited introduction of ETH 2.0 The number of active users has doubled since Januaryand recently rose to 500,000 for the first time since June 2019.

The creation of unique ETH addresses has also accelerated in recent weeks The number of new daily purses has increased from 50,000 to 100,000 in the first months of 2020 to more than 100,000 in the entire month of March. The total number of unique addresses now exceeds 96 million.

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