Lisk (LSK) Plans Move to Ethereum as Layer-2: All You Need to Know
Lisk (LSK), a delegated proof of stake (DPOS) protocol, has revealed its intention to shift to Ethereum as a layer-2 scaling solution. This move is a part of its strategy to bring real world assets (RWA) to emerging markets and optimize its plans to provide a decentralized physical infrastructure network (DePIN) on-chain. The migration will be achieved in collaboration with Optimism (OP) and Gelato Network.
The transition from a full-blown layer-1 to a layer-2 protocol is uncommon, but the ease of implementing the move, as provided by Optimism, makes the transition easier. Lisk will be the first L1 blockchain to join other protocols like Base to contribute to the Optimism Superchain, using the OP technology Stack.
By committing its developers to the development of Optimism Superchain, Lisk aims to advance the vision of contributing to the future of Web3. The protocol believes its contributions in the long term will drive mass adoption into the industry.
The announcement of the transition to the Ethereum protocol as a layer-1 network has pushed Lisk (LSK) to a new daily high. At the time of writing, the digital currency has jumped by 6.23% to $1.13, taking its market capitalization to $145,573,784.
The move to Ethereum might be the ultimate game-changer that Lisk needs to gain mainstream recognition, like other protocols in the L2 arena. Despite its revolutionary offerings and age, the protocol is ranked as the 262nd largest protocol by market capitalization, and its transaction count pales in comparison to Optimism (OP), Arbitrum (ARB), and Polygon (MATIC).
Lisk’s move to Ethereum as a layer-2 scaling solution is a significant development for the protocol and the industry at large. This strategic move could potentially enhance the protocol’s offerings and drive greater adoption and recognition within the market.
Overall, Lisk’s migration to Ethereum demonstrates its commitment to innovation and adaptability, positioning itself as a key player in the rapidly evolving blockchain space.
