By Hassan Mehmood (Saudi Arabia)
Ethereum network has recently completed its merger and has generated a lot of buzz in the cryptocurrency community. However, despite all the latest changes, the investors connected with the Ethereum blockchain are still dealing with issues like high gas prices and transaction limitations. Several blockchain developers are competing to fill the gap and gain traction in the Ethereum community.
One such company is Matter Labs. The blockchain enterprise is responsible for developing ZkSync. Zk Sync is a scaling solution for the Ethereum blockchain that aims to increase its operating capacity. However, the latest media reports suggest that developers at Matter Labs are now working on a new layer 3 solution for Ethereum.
Layer 3 Solution Attracts the Attention of Many Crypto Investors
The project under the development phase called Opportunity is now one of the most discussed topics among Ethereum community investors. As per the developers at Matter Labs, the Layer 3 solution is also going to help in increasing the scalability of the blockchain.
Matter Labs has reportedly been working on the Layer 3 solution since the start of October, and they have renamed it from Pathfinder to Opportunity.
Also read:The media reports suggest that Opportunity is going to be an off-chain extension that will stand on the layer 2 structure of ZkSync. It will lower scalability issues connected to Ethereum and also provide relief for the increasing gas fees.
The blockchain enterprise also stated the proof of concept consensus model for Opportunity, which is likely to make its debut in 2023.
As per the Matter Labs statements, Layer 3 solution Opportunity is going to introduce a novel mechanism called the Proof of Concept. This new consensus model is likely to increase the momentum of the Ethereum blockchain by ten times.
As per the developers on the project, the new upgrades are going to be available for investors as soon as the first quarter of 2023.
ZkSync has already initiated its first phase 2.0, titled baby alpha. It is an Ethereum Virtual Machine/ EVM compatible rollup by Layer 2 solution of Matter Labs. As mentioned before, there is a slew of developers who are working on layer 3 solution among which StarkWare is noteworthy. The layer3 solution by StarkWare is a multilayered 3 program that will serve various use cases.
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