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Uniswap plans to launch Unichain Ethereum layer-2 network

Uniswap plans to launch Unichain Ethereum layer-2 network

GrafaGrafa2024/10/10 23:30
By:Isaac Francis

Uniswap (CRYPTO:UNI) has announced its plan to introduce Unichain, a new Ethereum (CRYPTO:ETH) layer-2 network built using Optimism’s (CRYPTO:OP) technology. 

This move is aimed at reducing transaction fees, improving transaction speeds, and addressing liquidity fragmentation across different layer-2 networks. 

Unichain will be part of the Optimism Superchain, a collection of Ethereum layer-2 networks that operate using the same open-source technology stack. 

This structure allows for better communication between networks like Worldcoin, Mantle, and Base. 

According to Uniswap Labs, this interoperability could help solve the problem of liquidity being distributed across various networks that often struggle to connect. 

The primary objective of Unichain is to lower gas fees and improve transaction times, offering users a more efficient experience compared to Ethereum’s mainnet, which can experience congestion and higher fees. 

Many layer-2 solutions aim to relieve this congestion by processing transactions off the main Ethereum network. 

Uniswap’s decision to launch a layer-2 solution comes after other notable projects, such as Coinbase, also utilised Optimism’s technology for their own networks. 

Coinbase launched Base last year, which has gained traction and generated consistent revenue. 

By creating Unichain, Uniswap aims to enhance its decentralised exchange operations while offering users a more streamlined, lower-cost experience. 

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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