Former Fidelity Digital Assets Head Joins Advisory Board of Ethereum L2 Layer N

Layer N, a roll-up community designed to scale monetary purposes on Ethereum, introduced at the moment the appointment of Hong Kong-based former Constancy Worldwide govt Luc Froehlich to its advisory board.

Layer N is an Ethereum StateNet, a community of specialised rollups optimized for the monetary ecosystem aimed toward onboarding institutional liquidity.

Learn extra: What Are Rollups? ZK Rollups and Optimistic Rollups Defined

Earlier than becoming a member of Layer N, Froehlich led Constancy Worldwide’s foray into cryptocurrencies and tokenized belongings as international head of digital asset options for seven years.

In an electronic mail interview with CoinDesk, Froehlich stated that he is becoming a member of the protocol’s advisory board as a result of Layer N’s structure addresses the core problem of fragmentation in monetary applied sciences.

“By introducing a community of customizable digital machines that may talk and share liquidity seamlessly, Layer N overcomes the customarily siloed operation of conventional methods,” he stated.

Layer N’s use of zero-knowledge proofs (zk) addresses conventional finance’s want for confidentiality in transactions by enabling verification with out revealing the transaction’s content material, thus assembly regulatory and aggressive necessities, he defined within the interview.

“Blockchain expertise is now ripe to noticeably problem the ageing infrastructure underlying TradFi,” he stated.

Lately, Layer N introduced its entry into the Asian market by means of a strategic funding from BlackPine and a partnership with VSFG, aiming to broaden its Web3 choices within the area.

Learn extra: What Are Zero-Data Proofs?