Status Network: Ethereum-based Messaging App Launches Layer 2 Solution

Status Network: Ethereum-based Messaging App Launches Layer 2 Solution

Status Network, an Ethereum-powered messaging app, has announced the launch of its own Layer 2 platform in partnership with Linea. This move is a significant step for Status, which previously raised $100 million in an initial coin offering (ICO) for its SNT token in 2017. What is Layer 2? Layer 2 refers to blockchain scaling solutions that operate on top of an existing blockchain, such as Ethereum. These solutions help to increase the transaction capacity and speed of the main blockchain by processing transactions off-chain. Status Network Layer 2 The Status Network Layer 2 is designed to enhance the scalability and performance of the Status messaging app. By moving certain operations off-chain, the layer 2 solution aims to reduce transaction fees and latency, while improving the overall user experience. Partnership with Linea Linea is a blockchain infrastructure provider that specializes in developing Layer 2 solutions. The partnership with Linea has enabled Status to leverage its expertise in Layer 2 technology and accelerate the development of its own layer 2 platform. The launch of the Status Network Layer 2 is a significant milestone for the project and demonstrates its commitment to providing a fast, secure, and scalable messaging experience for its users.