There’s a new blockchain coming to disrupt layer 2 transactions. And it’s built by digital asset giant Uniswap.
What’s happening:
- Decentralized exchange Uniswap has announced plans to launch their own Ethereum layer 2 blockchain called Unichain
Why it matters:
- Uniswap is the largest decentralized exchange built on Ethereum in the world and their new blockchain is aiming to massively reduce fees and speed up transaction times for users
By the numbers:
- Unichain is launching with 1 second block times and is aiming to reduce that to 200-250 millisecond block times in the near future
- Unichain will be able to process transactions for 95% less than transactions completed on Ethereum layer 1
Going deeper:
- Uniswap is also focused on making Unichain easily accessible to developers to be able to build their own decentralized applications on top of in an effort to scale up the adoption of Unichain into the broader crypto ecosystem
- Launching new blockchains has been on the rise from major players in crypto, notably with Coinbase (NASDAQ: COIN) launching their own blockchain Base which has experienced enormous traction
