Ex-Fidelity International Executive Luc Froehlich Appointed to Layer N Advisory Board

Layer N, a roll-up network dedicated to enhancing financial applications on Ethereum, has appointed Luc Froehlich, a previous executive at Fidelity International in Hong Kong, to its advisory board.

Froehlich held the position of global head of digital asset solutions at Fidelity International, where he directed the company’s initiatives in cryptocurrencies and tokenized assets for seven years.

Froehlich Highlights Protocol’s Innovative Approach to Decentralized Exchanges

Layer N is a Layer 2 network established on Ethereum, concentrating on facilitating decentralized exchanges that aim to mirror their centralized equivalents.

In a recent interview, Froehlich shared his reasons for joining Layer N’s advisory board, pointing out the protocol’s capability to tackle the fragmentation within financial technologies. He underscored the project’s design, which incorporates a network of customizable virtual machines that enable smooth communication and liquidity sharing, thereby addressing the isolated nature of conventional systems.

“By introducing a network of customizable virtual machines that can communicate and share liquidity seamlessly, Layer N overcomes the often siloed operation of traditional systems,” he stated.

Froehlich highlighted Layer N’s application of zero-knowledge proofs (ZK) to fulfill the demand for transaction privacy in traditional finance. By allowing verification without revealing transaction details, the project adheres to regulatory and competitive standards while maintaining confidentiality. He asserted that blockchain technology is now ready to challenge the antiquated infrastructure of traditional finance, indicating a notable transformation in the industry landscape.

Layer N Unveils Nord Roll-up Testnet, Poised to Revolutionize Decentralized Exchanges

Layer N has announced its intention to launch a public testnet for its Nord specialized exchange roll-up, which promises significantly enhanced throughput and latency compared to current scaling solutions. The Nord roll-up is anticipated to deliver performance on par with centralized exchanges like Binance and Coinbase, enabling decentralized exchanges to attain similar efficiency levels.

During trials on a closed testnet, the Nord Engine showcased its ability to manage high trading volumes, achieving a peak of 120,000 transactions per second. While maintaining a rate of 20,000 transactions per second over an extended duration, Layer N confirmed the roll-up’s durability and scalability. The mainnet for Layer N is expected to be operational sometime this month.

Layer N’s CEO and co-founder, Dima Romanov, articulated the vision of launching several optimized roll-ups, including a version of the Ethereum Virtual Machine compatible with the Nord Engine. Developers utilizing the platform will have the capability to create native integrations, empowering them to develop applications directly atop decentralized exchanges.

One of Layer N’s pivotal technologies is EigenDA, which effectively stores batched transaction data, lowering costs compared to direct storage on the Ethereum mainnet. In September 2023, the project secured $5 million in a seed funding round led by Founders Fund and dao5, with contributions from investors such as Kraken Ventures, Mirana Ventures, GSR, and Amber Group.

Layer N recently revealed its expansion into the Asian market through a strategic investment from BlackPine and a collaboration with VSFG. These efforts aim to enhance its Web3 offerings in the region, further reinforcing its position in the dynamic financial technology landscape.

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