Founders Fund-backed Layer N hits 120K TPS in testing ahead of February public testnet

Founders Fund-backed Layer N hit a peak of 120,000 transactions per second in testing forward of its public testnet slated to launch in February.

Layer N is a Layer 2 community constructed on Ethereum that’s targeted on supporting decentralized exchanges designed to duplicate their centralized counterparts.

The testing was achieved on a closed testnet, based on a press release. It was achieved to examine the efficiency of the mission’s Nord Engine, which Layer N says was designed to allow a rollup to help excessive buying and selling exercise.

Whereas the testnet hit a peak of 120,000 transactions per second, Layer N famous that it was in a position to deal with 20,000 transactions per second over a sustained interval.

Constructing open exchanges

Layer N CEO and co-founder Dima Romanov stated the objective is to launch a number of optimized rollups, together with its personal model of the Ethereum Digital Machine. He added that this might be suitable with the Nord Engine.

Trying additional forward, he imagined that builders creating exchanges on Layer N would be capable to construct native integrations that may plug into them. “Think about if centralized exchanges we’re all acquainted with might permit builders to construct functions immediately on prime of them. That’s what we’re enabling,” he stated.

Layer N makes use of EigenDA to retailer batched transaction information as a part of being a rollup. That is cheaper than storing it immediately on the Ethereum mainnet.

In September 2023, Layer N raised $5 million in a seed spherical co-led by Founders Fund and dao5. Different buyers within the spherical included Kraken Ventures, Mirana Ventures, GSR and Amber Group.