

The Present and Future of Layer 2 Roll-ups by ConsenSys



ConsenSys gives a breakdown of Layer 2 roll-ups, particularly ZK-rolls-ups and where the space is headed in the third Build section of the 2023 CMC Crypto Playbook

An Overview of Layer 2 Roll-ups
Over the past few years, Layer 2 (L2) rollup solutions have come to the forefront as activity on the Ethereum network has grown. Activity and engagement with non-fungible tokens (NFTs) and Decentralized Finance (DeFi) have caused a surge in Layer 1 (L1) blockchain activity. In turn, the demand for blockspace, represented by gas costs, has increased. And the time for transaction finality has risen due to the increased network load. Whilst the Ethereum Merge set the groundwork for future gas fee optimizations; it did not directly reduce transaction gas fees.
In the year between the summer of 2020 and the peak demand in the summer of 2021 gas cost in Gwei on the Ethereum network increased by up to 1300%. The need to make transactions fast and affordable spurred the creation of two primary forms of rollup: Optimistic and Zero-Knowledge (ZK).
Rollups help remove the computational demands on the Ethereum network by moving transaction processing off-chain, converting them into a single piece of data and then submitting back on Ethereum as a batch to reduce the associated cost and time. The big difference between the two is that Optimistic roll-ups utilize fraud proofs, whereas ZK-rollups rely on zero-knowledge proofs to verify changes to the main chain.
Optimistic and ZK-rollups: Fraud Proofs vs Validity Proofs
Fraud proofs bundle transactions off-chain and then repost them to the L1. After a bundle has been submitted on the L1 there is a challenge period, during which anyone can challenge the result of the roll-up by computing a fraud proof. Similarly, zero-knowledge proofs batch transactions off-chain and submit them as a single transaction. Where they differ is rather than assuming the transactions are correct initially, they use a validity proof to instantly prove whether the transactions are valid. Once the transactions have been confirmed as valid they are then submitted to the L1. This is how they derive their respective names - fraud proofs are where the transactions are checked retrospectively to see if there are any fraudulent transactions, whereas validity proofs are completed before the transactions are submitted to the L1.
Whilst there are prominent projects for both, they each come with their own respective benefits and drawbacks. Optimistic roll-ups have the advantage that fraud proofs are only required when there is an issue. This means they require less computational resources and are able to scale well. The trouble lies with the challenge period. A longer challenge period increases the likelihood that any fraudulent transactions are identified, however, it also means that users have to wait longer to withdraw their funds. For leading optimistic rollup solutions, such as Arbitrum and Optimism, this waiting period can last up to a week. Alternatively, ZK-rollups have the advantage of always reflecting a correct L2 state. Their drawback is that proofs are required for all state transitions, rather than solely when they are contested, which limits scalability. This is further compounded by the complex nature and early stage of the technology.
Despite their respective challenges, ZK-rollups are being heralded as the future for roll-ups. This is primarily due to the automatic generation of validity proofs increasing the security of the protocol, the significantly reduced time to withdraw due to there being no challenge period, and that ZK-rollups boast better data compression. For these reasons, we will hone in on the current state of the ZK-rollup space, the latest innovations, and what lies ahead in the future.

The ZK-Rollup Space
As we’ve discussed, ZK-rollups are predominantly in the focal point with players like zkSync, Starknet, Polygon zkEVM, and Scroll all raising large amounts of capital to develop their solutions despite only StarkNet having launched on mainnet ($780MM in total). Each of these projects has taken its own angle, differing primarily across their rollups data availability strategy and their proving algorithm. The data availability strategy determines where the state data of a roll-up is stored, on-chain storage has increased security but it uses up block space on the Ethereum network which reduces transaction throughput.
The proving algorithm is the means of generating a validity proof, which can either be STARK or SNARK. Both of these algorithms help developers to relocate computation and storage off-chain, in turn increasing scalability. They are also able to verify whether a user has sufficient funds and the correct private key without having to access the information itself, thus improving the security. You can read more about the technical differences here. STARKs have the advantage of offering more scalability, security, and transparency compared to SNARKs. But the drawback STARKS have is a larger proof size, which takes longer to verify, and that SNARKs comparatively only use 24% of the gas. Therein for both SNARKS and STARKS we have the tradeoff between speed and cost vs. scalability, security, and transparency. Whilst many different methods are being explored there is not yet a definitive answer as to the best way to set up a ZK-rollup. Each configuration brings respective benefits and many developers are still exploring the optimal choice or combination for their roll-up designs.
The Hurdles To Overcome
As we’ve discussed, ZK-rollups are still in development and there are various challenges that need to be overcome before blockchain users are able to reap their full benefits. Language compatibility is one such challenge; translating Ethereum Virtual Machine (EVM)-friendly programming languages, such as Solidity, into a custom-built language specifically optimized for ZKP can help boost their efficiency, but it brings with it adoption challenges for developers. For example, StarkNet is looking to solve this with Warp, a Solidity to Cairo (the language of StarkNet’s ZKP) language compiler that looks to automatically convert Solidity into Cairo. Using Warp removes the need for developers to rewrite their code in Cairo, making it a much smoother process.
Other challenges include the secretive nature of projects, with many going against the open-source ethos of crypto due to concerns over first-mover advantage and capturing a sticky userbase. Most ZK-rollups were first launched this year, highlighting the amount of work that is yet to be done in the space.
Lastly, whilst rollups (both optimistic and zero-knowledge) have the benefits of improved speed and cost, it tends to be at the expense of decentralization. This is due to the inherent need for sequencers, the actors batching transactions and committing proofs to the L1. All rollups currently need a centralized sequencer and use upgradeable smart contracts that are managed by a single entity. Because the space is still so early, a central focal point is typically required for quick fixes to bugs in the code. Add to that the projects aren’t open-sourced, creating another hurdle for community members to act as sequencers. Many projects have indicated that they plan to decentralize their sequencer functions in the future, but this will undoubtedly take additional resources and time.
Decentralization Plans
Launching a token and open-sourcing code will be the next steps for many of the projects seeking decentralization. Tokenization of these services to generate activity and decentralize the product is another area where we expect to see a myriad of different solutions cropping up as projects look to create the most scalable, decentralized and active L2 on the market. StarkWare and zkSync are both planning to launch a token and Polygon could potentially use MATIC to support Polygon’s zkEVM initiative. Token engineering on ZK-rollups is an even more nascent space than the optimistic roll-up technology and finding an effective and sustainable model can differentiate and boost adoption.
The Future
zkEVMs are still in their very early stages and the race is on to launch on mainnet. StarkNet has the first-mover advantage but still has challenges with regard to supporting Solidity features due to the use of Cairo, leaving room for competitors to make improvements. The projects that are able to amass significant user bases will attract Decentralized Applications (Dapps) developers, in turn bringing more dapps to their platform and increasing the feature set. ConsenSys’ zkEVM is currently moving to testnet and are focussing specifically on dapp developers for this reason, leveraging tools like MetaMask, Infura and Truffle so that they can deploy and manage applications as if they were directly using Ethereum.
And whilst we have discussed the current players in the zkEVM market, other predominant rollup solutions like Polygon, Optimism, and Arbitrum still command a significant market share. As zkEVM solutions mature, we may see these projects look to transition to validity proofs or hybrid solutions, leveraging their existing user bases to attract dapp development and maintain their market dominance. In the end, the many rollup solutions (and the increased competition between them) will continue to improve the web3 user experience and introduce platforms for applications to onboard the next generation of users.
Given these threats, we’re not surprised at the secrecy of projects in the space, but we believe the true winner will be able to leverage the efficiency of ZK-rollups and combine it with a seamless developer and user experience to come out on top.
This is a guest post from CoinMarketCap with Consensys and has been edited for style. The original article was published here and was also included in the third Build section of the 2023 CMC Crypto Playbook.
What is CoinMarketCap:
CoinMarketCap is the world's most-referenced price-tracking website for digital assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high-quality, and accurate information for drawing their own informed conclusions.
Where to find CoinMarketCap:
Website | Twitter | Telegram | LinkedIn |
What is ConsenSys:
ConsenSys is a leading Web3 software company. It enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. The ConsenSys product suite includes Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence.
Where to find ConsenSys:
Website | Twitter | Discord | LinkedIn |
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Related News

Thanks to DigiToad's distinctive concept and strong community support, investors can look forward to promising growth prospects.
DigiToads (TOADS) has quickly emerged as a top competitor to Solana (SOL) and Binance Coin (BNB) in the world of cryptocurrency. With its innovative approach of combining meme coins with NFT staking, DigiToads is offering investors exciting opportunities for growth and long-term profitability. Here are a few reasons why DigiToads is emerging as a top competitor to Solana and BNB.

DigiToads (TOADS) Changes The Game
Unique Concept
While Solana and Binance Coin are well-established cryptocurrencies, DigiToads stands out for its unique concept of combining meme coins with NFT staking. This innovative approach has attracted a lot of attention from investors looking for something new and exciting. DigiToads allows users to stake their NFTs to earn TOADS, the native cryptocurrency of the platform. The more NFTs a user stakes, the higher their potential rewards. This creates a unique incentive for users to collect and hold onto NFTs rather than simply buying and selling them for profit.
Community Support
Like Solana and Binance Coin, DigiToads has a strong community of users and supporters who are invested in its success. This community support is essential for any cryptocurrency to thrive, and DigiToads has been able to attract a dedicated following thanks to its unique approach and potential for growth. By encouraging community involvement and engagement, DigiToads is creating a sustainable ecosystem that benefits both users and developers.
High Growth Potential
Solana and Binance Coin are both well-established cryptocurrencies that have seen significant growth in recent years. However, DigiToads has the potential to outpace them both in terms of growth and profitability. With its unique concept and dedicated community support, DigiToads is poised to become a major player in the world of cryptocurrency. As more investors become aware of its potential, the value of TOADS is likely to increase significantly, providing early investors with exciting opportunities for growth and profitability.
DigiToads has already set itself apart from the competition by prioritizing community engagement and participation. Unlike many other tokens, DigiToads' focus is not just on speculative investing but also on building a thriving community of holders who can actively participate in the project's growth.
Comparing with Solana and Binance Coin
While Solana and Binance Coin are well-established and have seen significant growth in recent years, they are not without their limitations. Solana has faced some technical difficulties, leading to network congestion and increased transaction fees. Binance Coin, on the other hand, is closely tied to the Binance exchange, which has faced regulatory scrutiny in some jurisdictions. DigiToads, on the other hand, is not tied to any centralized exchange and offers a unique approach that sets it apart from other cryptocurrencies.
DigiToads (TOADS) Ready To Soar At Launch
Overall, DigiToads is emerging as a top competitor to Solana and Binance Coin in the world of cryptocurrency. With its unique concept, community support, and high growth potential, DigiToads is offering investors exciting opportunities for growth and long-term profitability. As more investors become aware of its potential, the value of TOADS is likely to increase significantly, making now the perfect time to get involved in the presale.
USE CODE: FINTECH10 FOR 10% EXTRA TOKENS ON YOUR NEXT DIGITOADS PURCHASE
Visit the following links for more information on DigiToads:
Website | Presale Registration | Join The Community
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Chainlink Weekly Roundup: Product Update, PwC, Steadefi, SteakHut, Ainslie Bullion

Smart contract oracle network Chainlink released a major Product Update and announced partnerships with PwC Germany, DeFi protocols and an Australian precious metals dealer.
Web3 Inevitability, Enterprise Blockchain, DeFi, Metals
It was another big week for Chainlink. Crypto’s dominant smart contract oracle network made major announcements involving a Big Four accounting firm, two yield aggregators and a metals dealer.
In this week’s roundup:
- Chainlink issues first Product Update.
- PwC Germany and Chainlink forge strategic collaboration.
- Steadefi joins Chainlink BUILD.
- SteakHut integrates Automation.
- Ainslie Bullion integrates Price Feeds.
Chainlink Issues Product Update
Chainlink issues its first Product Update, a wide-ranging overview of progress from the company since SmartCon 2022.
“Our goal is to bring more transparency and insight into the development of Chainlink as a platform. We do so by providing a quick summary of each product, sharing recent deployments since last September, and showcasing areas of current research and development that are actively being explored for future product iterations,” according to the blog post from Chief Product Officer Kemal El Moujahid.
Areas covered in the update include:
- Data
- Data Feeds and Data Products
- Functions
- Proof of Reserve
- DECO
- Compute
- Automation
- VRF
- Fair Sequencing Services
- Cross-Chain
- Cross-Chain Interoperability Protocol
- Chainlink Developer Community Building
Thank you to the @chainlinklabs teams building incredible products and to all the Web3 developers building our future!
— kemal el moujahid (@kelmoujahid) March 22, 2023
If you want to learn more about our vision and roadmap, join me on the #Chainlink Discord Thursday, March 23 at 1 PM EST. https://t.co/VIBhrYdrYi https://t.co/X5aVfM77rf
Collaboration With PwC
Chainlink has entered into a strategic joint business relationship with PwC Germany to help accelerate enterprise blockchain adoption.
PwC is one of the “Big Four” accounting firms, a label applied to the world’s largest financial professional services networks.
"We're pleased to enter into a strategic partnership with Chainlink Labs as integration & development partner to help accelerate the enterprise adoption of blockchain technology," said Dimitri Gross, Technology Interest Group Lead for Digital Assets and Crypto at PwC Germany, in a press release. "PwC Germany and Chainlink Labs aim to help accelerate enterprise adoption of blockchain technology in key enterprise sectors such as capital markets, ushering in a new era of transactional security, transparency, and efficiency."
The goal of the collaboration is for Chainlink and PwC Germany to support business enterprises develop blockchain solutions that utilize Chainlink middleware.
"We're excited to support PwC Germany through this strategic collaboration, which will help enterprises securely connect their existing systems to all major blockchain networks," said William Herkelrath, managing director of business development for Chainlink Labs. "By interacting with the blockchain economy through Chainlink, enterprises can begin realizing the transformative power of smart contracts and blockchain oracles."
PwC Germany (@pwc_de) has entered into a strategic collaboration with @ChainlinkLabs to accelerate enterprise #blockchain adoption.
— Chainlink (@chainlink) March 22, 2023
This collaboration supports enterprises in seamlessly interfacing with blockchains via #Chainlink’s secure middleware: https://t.co/VkSPNUS7Vg pic.twitter.com/b69gHXFM20
Steadefi Joins BUILD
Steadefi has joined the Chainlink BUILD Program to accelerate adoption of the Decentralized Finance (DeFi) platform’s automated “smart-hedging” strategies.
“We are excited to join Chainlink BUILD, which we believe will greatly help drive the adoption of Steadefi’s next-gen DeFi automated strategy vaults. Chainlink’s Web3 services are essential for any protocol that value security and reliability, and we plan to leverage the full suite of services that Chainlink can offer such as Chainlink Data Feeds and Chainlink Automation to support our strategy vaults. Ultimately, joining BUILD will help us provide more people with access to Steadefi’s innovative, efficient, and safe strategies,” Steadefi Project Lead Jeff Lam said in a blog post.
The yield aggregator provides users with a variety of strategy vaults from protocols including GMX, Trader Joe and Pangolin, featuring automated position management.
As part of BUILD, Steadefi will receive access to new Chainlink product alpha and beta releases, dedicated technical support from the Chainlink ecosystem, and more.
In return, Steadefi has committed 3% of its total token supply to Chainlink service providers, including stakers.
🏗️ #ChainlinkBUILD 🏗️
— Chainlink (@chainlink) March 22, 2023
@steadefi has joined Chainlink BUILD to accelerate the adoption of its automated smart hedging strategies.
In return, Steadefi will make 3% of its total native token supply available to #Chainlink service providers.https://t.co/mICW3gnQkf pic.twitter.com/EyHFRKAUdd
SteakHut Integrates Automation
Liquidity and yield aggregator SteakHut has integrated Chainlink Automation to manage liquidity in the protocol’s yield aggregation vaults and reduce centralization risks.
“Without Chainlink Automation, we would either need to maintain in-house infrastructure or manually trigger liquidity management functions in SteakHut vaults. The highly reliable Chainlink Automation service helps make our lives easier so we can focus solely on building more advanced liquidity management strategies,” SteakHut CoFounder and Lead Developer Wagyu said in a Medium post.
SteakHut is a decentralized market-making platform on Arbitrum and Avalanche where users can deposit their tokens for liquidity on Trader Joe.
.@steakhut_fi has integrated #Chainlink Automation on #Arbitrum and #Avalanche to help trigger liquidity management functions in its vaults.
— Chainlink (@chainlink) March 24, 2023
Explore how Automation helps yield aggregators create more sophisticated liquidity management strategies👇https://t.co/90Aobah6Ci
Ainslie Bullion Uses Price Feeds
Australian precious metals dealer Ainslie Bullion has integrated Chainlink Price Feeds to help price metals such as gold, silver and platinum on its platform.
“Chainlink Price Feeds underpin the DeFi economy with highly secure, reliable, and decentralized market data. We’re excited to bring more transparency and reliability to our clients by using Chainlink to help price precious metals for both traditional bullion products and our AUS and AGS tokens,” Ainslie Bullion Director Paul Engeman said in a statement.
Price Feeds will also be used to price Ainsle Bullion’s gold and silver digital tokens $AUS and $AGS.
.@AinslieBullion is now using #Chainlink Price Feeds to help accurately price physical & tokenized precious metals like gold and silver.
— Chainlink (@chainlink) March 23, 2023
Explore how Chainlink Price Feeds help increase transparency and reliability for precious metals pricing ⬇️https://t.co/8UMduM9kWP pic.twitter.com/LaQ8eCxgvG
Last four weekly Chainlink Roundups:
- March 19: Lekker Finance, Gunther’s Rich Dog, BiggerMINDS, PLEXUS
- March 12: LendeXe, Planet IX, Sneaky Vampire Syndicate
- March 5: Base, Functions, Konnect, 0xCord
- Feb. 26: StarkNet, TrueUSD, Radiant, ETHDenver
What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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LFGSwap Enters Arbitrum Ecosystem, Outlines Next Development Plan
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LFGSwap will deploy its ecosystem functionalities and native $LFG token on Arbitrum. The DEX looks to tap into Arbitrum’s secure, fast, and cheap network.
LFGSwap Goes Live on Arbitrum
Core-based Decentralized Exchange (DEX), LFGSwap, has entered the Arbitrum ecosystem. Both the protocol’s products and the $LFG token will go live on the EVM-compatible blockchain.
Following the announcement on March 20, the platform aims to become the leading DEX on Arbitrum, with the largest traffic, most users, and strongest Meme attributes. The protocol also confirmed the news with BSC News, stating its plans to collaborate with Arbitrum officials to develop its growing ecosystem.
“We’re excited to announce that LFGSwap will be live on Arbitrum! Both the LFGSwap product and tokens will be deployed on #ArbiturmOne. We will work closely with Arbitrum officials in regard to community building and ecosystem development. LFG!” LFGSwap wrote to BSC News.
Arbitrum provides a suite of Ethereum scaling solutions that are secure, cheap, fast, and EVM-compatible. Further, integrating Arbitrum will help expand LFGSwap’s development in the Decentralized Finance (DeFi) space and attract more users.
LFGSwap’s next step toward development will be to deploy its existing functionalities, such as the Wolf of Wall Street Non-Fungible Token (NFT), Initial DEX Offering (IDO) launchpad, and $LFG tokenomics on Arbitrum. According to the protocol’s Medium publication, users can move their tokens across all active chains on LFGSwap.
“We are working on a viable solution for $LFG to move freely and securely between ETHW, CORE, and Arbitrum. In the case of integrating Arbitrum, holders of $LFG (ETHW/CORE) can exchange their tokens for $LFG on Arbitrum,” the blog read.
LFGSwap’s Medium blog has more information about $LFG tokenomics on Arbitrum, including cross-chain rules for bridging the token to the network. You can learn more about the $LFG IDO on Arbitrum HERE. The IDO is scheduled to kickstart on March 26 at 13:00 UTC.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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yPredict.ai Unveils Next-Gen Payment Gateway for Token Purchase - Developed in Record Time

yPredict.ai's new innovative solution aims to streamline the token purchase process for both old and new crypto users.
The team at yPredict.ai has made a significant breakthrough by developing a cutting-edge payment gateway for purchasing their tokens in the presale and public sale stages. This innovative solution aims to provide an effortless and seamless experience for token buyers, who can now purchase tokens in just a few clicks. What sets this payment gateway apart is that it was created in a record-breaking 24 hours - a testament to the team's exceptional expertise and commitment.
With its state-of-the-art security features and user-friendly interface, the payment gateway is set to make a significant impact in the cryptocurrency world, transforming the way investors acquire tokens. This development is a game-changer for yPredict.ai, positioning them as a leader in innovative cryptocurrency solutions.
Visit yPredict.ai Presale Page

The launch of its new payment gateway enables investors to buy tokens from the native currency of the three most popular chains - Ethereum, BSC, and Polygon - additionally through the USDT token. This payment gateway is an initiative of the team at yPredict.ai to make the token purchase experience easier and more accessible for everyone, including those new to the world of crypto.
What sets this payment gateway apart is that investors do not require any defi wallet to purchase yPredict tokens. They can directly send withdrawals to the one-time wallet address presented on the screen. The developers at yPredict.ai have built this payment gateway in less than 24 hours, making it easy for newbies in crypto to participate in the token sale with ease.
According to the team, the new payment gateway was developed to avoid high transaction fees charged by other crypto payment providers and provide a seamless experience to everyone interested in investing in yPredict.ai. The team's vision is to make the token sale process more accessible and user-friendly for investors, and this new payment gateway is a step in that direction.
The yPredict.ai team is confident that this new payment gateway will make the token purchase process easy and efficient for investors, and it's an excellent opportunity for everyone to invest in the future of blockchain. Don't miss out on this opportunity to be a part of this revolutionary platform. Visit the yPredict.ai website to learn more and participate in the token sale.
Visit yPredict.ai Presale Page
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $290. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Exploring the Power and Potential of Smart Contracts with Chainlyze

We explore the concept of smart contracts, how they work, their benefits and risks, and how individuals and businesses can leverage their power with the help of Chainlyze, a blockchain analytics platform.
Smart Contracts 101
Smart contracts have become an integral part of the blockchain ecosystem, enabling secure and efficient transactions without the need for intermediaries.
In this article, we'll dive into what smart contracts are, how they work, and their benefits and risks. We'll also take a closer look at how Chainlyze, a blockchain analytics platform, can help individuals and businesses understand and leverage the power of smart contracts.

What is a Smart Contract?
A smart contract is a self-executing contract that automatically executes the terms of an agreement when all conditions are met. The contract lives on the blockchain and is secured by cryptography, making it virtually tamper-proof. Smart contracts can be used to automate a wide range of tasks, from financial transactions to supply chain management.
How Does a Smart Contract Work?
A smart contract must satisfy three conditions to execute: specificity, subject, and signature. The terms of the agreement must be well-defined and reviewed, the programming must be relevant to the task at hand, and all parties involved in the contract must indicate their approval for the contract to begin execution. Once these conditions are met, the contract executes automatically, providing fast and secure transactions.
Benefits of Smart Contracts
Smart contracts offer several benefits over traditional contracts, including autonomy, increased security, high performance, and reduced operational costs. Because smart contracts are self-executing, there is no need for intermediaries, which reduces costs and speeds up transactions.
Additionally, smart contracts are highly secure due to their cryptographic nature, and they can automate complex processes, leading to increased efficiency.
Risks of Smart Contracts
Despite their many benefits, smart contracts do come with some risks. Coding errors can lead to vulnerabilities that can be exploited by attackers, leading to loss of funds or prolonged downtime. It's important to thoroughly review and test smart contracts before deploying them to the blockchain.
Leveraging Smart Contracts with Chainlyze
Chainlyze is a powerful blockchain analytics platform that can help individuals and businesses understand and leverage the power of smart contracts. With Chainlyze, users can analyze smart contracts for vulnerabilities, test and optimize smart contract performance, and gain valuable insights into blockchain transactions.
In conclusion, smart contracts are a powerful tool that can revolutionize the way we conduct transactions and manage complex processes. With the help of platforms like Chainlyze, individuals and businesses can leverage the power of smart contracts while minimizing risks and maximizing benefits.
About Chainlyze:
Chainlyze is a platform that allows you to identify or monitor where the smart money flows, move to identify new trade opportunities and trace historical activity. With an overview of top user wallets, you can map out the activity of leading figures in the industry. Alongside this, the team has outlined its focus on keeping their users informed by providing research on the latest trends in the industry.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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