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Home»TRADING NEWS»Ethereum Layer 2 LightLink debuts on Celestia mainnet.
TRADING NEWS

Ethereum Layer 2 LightLink debuts on Celestia mainnet.

By Crypto FlexsJune 5, 20243 Mins Read
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Ethereum Layer 2 LightLink debuts on Celestia mainnet.
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LightLink, an Ethereum Layer 2 blockchain, announced the integration of Hummingbird and Celestia mainnets. Consolidation is critical to reducing storage costs and improving security on LightLink’s path to 10,000 TPS.

LightLink, an Ethereum Layer 2 (L2) blockchain, today announced the launch of its client, Hummingbird, on Celestia’s mainnet. This integration is essential to LightLink’s journey to achieve 10,000 transactions per second (TPS) and functions by reducing storage costs and increasing security.

Reduce transaction fees and improve scalability

LightLink, an Ethereum L2 blockchain, allows decentralized applications (dApps) and enterprises to offer gasless transactions to their users. Hummingbird, a standalone client built by LightLink, will integrate with Celestia’s mainnet to improve scalability, lower transaction fees, and increase security. LightLink’s Hummingbird leverages Celestia’s robust data integrity, immutable history, and modular data availability to reduce operating costs in the LightLink ecosystem.

Currently, LightLink is one of the heaviest data users on the Celestia testnet, accounting for 18.9GB of “blobs” (binary large objects), which accounts for 84.5% of the Celestia testnet storage volume. Despite being one of the heaviest data users, LightLink boasts the lowest data storage costs on the testnet, paying just $0.09 for a stored MB. LightLink’s fees are low thanks to its aggressive fee structure and Celestia’s algorithm. These two mechanisms work together to pursue the lowest possible costs while gradually reducing costs until the best results are achieved.

Roy Hui, CEO and co-founder of LightLink, said about the project:

“Integrating Celestia reduces storage costs and increases security. This is a strategic move to achieve 10,000 TPS. Using Celestia for the data availability layer lowers costs compared to Ethereum, delivering these savings to end users in the form of lower transaction fees. The result is a faster, more stable blockchain platform that is easier and more accessible, while also addressing the higher gas fees typically required to enjoy the benefits of layer 1 protocols.”

Solve important challenges

Announced in February 2024, Hummingbird is a standalone client built by LightLink and is essential for solving critical problems related to data availability. The project protects against validator challenges in LightLink’s Ethereum payment layer and embodies the spirit of blockchain: “Don’t trust, verify.”

Hummingbird’s responsibilities include executing state, containing transactions, and ensuring data availability. Hummingbird also ensures that data from every block is published and accessible for verification, allowing validators to independently verify transaction accuracy.

After Hummingbird integration, LightLink enables Blobstream, a modular data stream tool that delivers on Celestia’s data route promise, enabling developers to create high-throughput workloads for L2 networks. Blobstream integration is scheduled to launch next month and will allow LightLink to develop “challenger/defender” games for community validators to ensure data availability.

The Hummingbird integration has been hot since the launch of LightLink’s token $LL in April. $LL can be traded on Uniswap, KuCoin, Bybit, Gate.io, and Elektrik. LightLink also recently closed an expanded seed and public financing round, securing $11.5 million for the project. The funding aims to accelerate the development of gasless architectures for blockchain.

Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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