FTX & Solana Ventures Backed, Layer N, Unveils Hyper Scalable Layer 2 Blockchain

Layer N, the first blockchain capable of supporting centralized crypto exchange throughput, comes out of stealth growth mode.

SAN FRANCISCO — Layer N (“The Protocol”), a hyper performant and scalable Layer 2 blockchain backed by FTX Ventures, Solana Ventures, Solana Foundation, as well as angel investors Anatoly Yakovenko, and Raj Gokal, today announced that it will be coming out of stealth.

At launch, Layer N will be the first blockchain capable of supporting centralized crypto exchange order throughput. The novel Layer 2 is a rollup scaling solution that leverages Solana’s industry-leading blockchain as a settlement layer.

The Protocol employs a novel execution environment, dubbed the guardian network, as well as a few sets of unique technical innovations and optimizations to scale up execution. 

The final chain will not only enable high frequency applications, but also highly intensive and complex computations that are currently impossible to deploy on existing blockchains, such as portfolio margining, or the calculation of black-scholes.

Dima Romanov, co-founder of Layer N, commented on today's news: 

“Today, Solana is able to achieve record throughput and transaction speeds compared to other L1 and L2 blockchains. However the ecosystem is still a few magnitudes away from the performance that developers and users are used to with Web 2.0 applications that run on centralized servers. Layer N will push the boundaries of throughput and latency that users are accustomed to on the Solana blockchain."

"Through our technology, on-chain computation will approach centralized server performance for the first time.” 

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In the coming weeks, Layer N will be deploying a public sandbox environment where users can observe the performance improvements of a real test program deployed to a devnet version of Layer N. The first use case of Layer N’s technology will be in enabling DEX’s that are capable of handling the same daily throughput that FTX sees.

“The first step toward a transition from Web2 to Web3 is to solve the infrastructure scalability problem by enabling applications to run on truly fast and scalable blockchains. With Layer N, we can finally enable a whole new class of powerful applications,” says David Cao, Co-Founder of Layer N.

Layer N has secured major liquidity partners, such as Ledger Prime, Pattern Research and is beginning its process of discussions with early stage teams and developers to grow its ecosystem ahead of its public release in 2023.

Solana 

“For DeFi derivatives, a sub 100ms sequencer that settles to Solana could rival the user experience of a centralized exchange, opening the door for new and innovative DeFi products. I’m very excited to see Layer N develop the tech that will help enable this performance upgrade.” 

Anatoly Yakovenko, Solana

“Solana Ventures is excited to support Layer N's quest to build a hyper-performant rollup on Solana. In the same way that Solana disrupted the L1 performance space, Layer N looks to do so for L2s. Layer N has the potential to enable UX that more closely resembles web2's centralized server performance, unlocking use cases for high frequency trading and fully on-chain social networks."

"We look forward to seeing Layer N build out the infrastructure to take web3 performance to the next level," said Justin Barlow of Solana Ventures.

FTX

“LayerN unlocks a new paradigm of hyper scalable applications that today is impossible on existing blockchains. It is an important priority on the Solana network and we are excited to support the team’s vision,"said Amy Wu of FTX.