Layer-two protocol EdgeSwap launches testnet to bring scalable low-cost transactions to Ethereum users
OCT. 26, 2021 — EdgeSwap, an Ethereum-based layer-two trading protocol using zk-Rollup technology, announced today that it has been deployed on the Rinbeky testnet. Starting today, users can join the testnet whitelist event to begin trading on layer two, as well as transfer tokens from layer two to layer one of the test networks. Users who contribute to and help improve EdgeSwap during the testnet phase will stand a chance to win one of three special limited edition NFTs or share in a bounty of 2,000 Tether (USDT).
Over the past year, Ethereum has seen a surge of activity thanks to the rise of decentralized finance (DeFi) and decentralized applications (DApps) on the network. While the increase has catapulted Ethereum to new heights, activities like token swapping, yield farming and trading have led to congestion. Ultimately the congestion leads to slower transaction times and higher costs, making it difficult for developers, users and projects alike to contribute to the network.
To address these issues, EdgeSwap has four distinct components and capabilities to bring high scalability, outperformance, and more security to users and developers in the Ethereum ecosystem:
- Layer-two payment and AMM system. Built on Ethereum layer two, the automated market maker (AMM) payment system focuses on liquidity pool, swaps, etc. while providing second-level confirmation and zero gas fees.
- Top-level layer-one and layer-two interactive systems. By upgrading the zk-Rollup solution, EdgeSwap can realize withdrawals in as fast as a few minutes. Transferring from layer two to layer one is three to five times faster, and gas fees are reduced by 98%.
- Decentralized farming on layer two. Users can stake and earn rewards on layer two by optimizing the execution environment and proof of circuit environment.
- Emergency data recovery and asset extraction capability. When layer two fails, users can obtain data from the contract’s transaction records to restore the layer-two state tree and generate a certificate to retrieve the funds.
Now, users can participate in the whitelist event to witness and experience the successful deployment and product updates of EdgeSwap. For more details on the event, visit: https://twitter.com/EdgeSwap/status/1451823425182318596?s=20
Developed by Edge Labs, EdgeSwap is an Ethereum-based layer-two trading protocol that adopts the zk-Rollup technology. With the industry’s top-grade hardware acceleration solution and circuit optimization system, EdgeSwap provides the market with high-performance, cost-effective swapping and farming services. At the same time, it protects users’ assets and privacy through the highest level of security among layer-two scaling solutions.
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