George Town, Cayman Islands, 7 November 2024 - Puffer Finance, the leading innovator in Ethereum infrastructure, has announced the Testnet launch of UniFi, a based rollup to Ethereum set to transform the L2 landscape.
UniFi is low-cost, capable of sub-second transactions, and allows asset withdrawal from L2 (UniFi) to L1 (Ethereum) within a minute, which is multitudes faster than any existing rollups.
UniFi’s mission is to unify the Ethereum network by addressing the fragmentation that has emerged from the proliferation of Layer 2 solutions.
According to a recent Gemini Institutional Insights report, a new Ethereum Layer 2 solution is launched approximately every 19 days, raising concerns about liquidity fragmentation and the dispersal of tradable assets across multiple platforms.
While L2 rollups have been crucial for Ethereum’s growth, many rely on centralized sequencers, resulting in liquidity silos and limiting value capture on Ethereum’s main network (L1).
UniFi introduces a decentralized alternative: based sequencing, a novel approach that empowers Ethereum’s own validators to handle transaction sequencing, maintaining both the security and value alignment with Ethereum’s core ethos.
With based rollups, validators handle transaction sequencing, enhancing Ethereum's security and keeping fees flowing back to L1. This means that the same validators securing Ethereum's base layer also sequence transactions for UniFi – which benefits from Ethereum's security, while opening up new revenue streams for Ethereum validators.
As a based rollup to Ethereum, UniFi is designed to provide an enhanced experience for both users and developers, while remaining economically aligned to Ethereum – meaning that increased usage of UniFi will lead to more revenue captured by Ethereum validators.
Another core facet of UniFi is preconfirmations – an innovative concept spearheaded by Ethereum Foundation researcher Justin Drake. Preconfirmations enable near-instant feedback on transactions, giving users the fast UX of other L2s without compromising on security.
UniFi’s preconfirmations offer a strong improvement over traditional soft confirmations by using Ethereum validators instead of centralized sequencers.
This ensures near-instant (100ms) confirmation times with enhanced reliability, as validators face penalties for failing to include transactions, delivering both speed and security.
Puffer Testnet participation will be scheduled over two different phases. It is currently exclusively available for builders, and will be open to the public soon.
The UniFi ecosystem is looking for developers keen to build the next generation of cross-layer DApps, validators looking to boost their earnings, and Ethereum enthusiasts passionate about the future of blockchain scaling.
Amir Forouzani, Co-founder of Puffer Labs said:
“UniFi represents a pivotal milestone in our mission to set a new standard for Ethereum scalability, while resolving the fragmentation issues that have placed a glass ceiling on mainstream adoption. With Atomic Composability, we are opening up unique opportunities for entirely new applications and user experiences, bridging the vast liquidity and user base of Ethereum L1 with the scalability of L2.
"We are always on the lookout for ambitious developers, validators, and Ethereum enthusiasts to get involved. Let’s build a more integrated and sustainable blockchain environment together!”
About Puffer Finance
Puffer Finance is a leading innovator in Ethereum infrastructure, focusing on next-generation rollups supported by liquid restaking (LRT) and preconfirmation as an AVS.
With products like Puffer UniFi and Puffer UniFi AVS on EigenLayer, Puffer is dedicated to enhancing Ethereum’s decentralization. Learn more:
Media contact:
media@puffer.fi
On-Chain Media articles are for educational purposes only. We strive to provide accurate and timely information. This information should not be construed as financial advice or an endorsement of any particular cryptocurrency, project, or service. The cryptocurrency market is highly volatile and unpredictable.Before making any investment decisions, you are strongly encouraged to conduct your own independent research and due diligence
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