Flooz Integrates Layer 2 Blockchains
Arbitrum, Avalanche (Avax), Optimism, zkSync, and Base 🔥
Starting today, we’re adding support for Layer 2 blockchains Arbitrum, Avalanche (Avax), Optimism, zkSynch and Base with many more blockchains following in the coming months.
Before we dive into how to use Layer2 Blockchains on Flooz, let’s first understand what they are and why they matter.
Layer 2 blockchains are advanced solutions built on top of primary blockchains (like Ethereum) to improve scalability and performance. They handle transactions off the main chain, reducing congestion and fees, which is essential for handling a larger user base and more transactions.
Layer 2 vs. Zero Knowledge Proofs
While both Layer 2 solutions and zero-knowledge proofs (ZKPs) aim to enhance blockchain scalability and privacy, they operate differently. Layer 2 solutions like rollups process transactions outside the main chain but still rely on it for security.
In contrast, ZKPs are cryptographic methods that allow one party to prove to another that a statement is true without revealing any information beyond the validity of the statement itself. ZKPs are often used in Layer 2 solutions, like ZkSync, to validate transactions without revealing their details, enhancing privacy and scalability.
Sounds confusing?
Alright, let's break this down into simpler terms.
Imagine the blockchain as a busy highway where all the transactions (cars) travel. Due to its popularity, this highway often gets congested, slowing down the travel time for each car. In the world of blockchain, this means slower transactions and higher fees.
Layer 2 Solutions
To solve this, think of Layer 2 solutions as a set of additional lanes built alongside the original highway. These lanes (Layer 2 solutions) allow some of the traffic to bypass the congested main highway. The cars (transactions) that use these extra lanes still depend on the main highway for overall direction and rules, but they can move faster because there's less congestion. This is like processing transactions outside the main blockchain (main highway) but still relying on it for overall security and order.
Zero-Knowledge Proofs (ZKPs)
Now, let's introduce zero-knowledge proofs (ZKPs). Imagine you have a secret, and you want to prove to someone that you know this secret without actually telling them what it is. It's like saying, "I know the password, but I won't tell you what it is. However, I can prove I know it." In the blockchain world, ZKPs allow a transaction to be verified without revealing all its details. It's like allowing a car to pass through a checkpoint without the checkpoint officer needing to know who's inside the car or where it's going, just that it's allowed to be on the road.
ZKPs in Layer 2 Solutions
In some Layer 2 solutions, like ZkSync, ZKPs are used to validate transactions. It's like having special lanes where cars (transactions) can travel quickly and privately, without revealing details about their journey. The main highway (main blockchain) knows these cars are legitimate, but doesn't need to know everything about them. This enhances privacy and keeps things moving quickly, reducing congestion and making the whole system more efficient.
Diving Deeper into New Blockchains
Arbitrum
A Layer 2 scaling solution for Ethereum, Arbitrum stands out for its unique optimistic rollup technology. It allows for faster and cheaper transactions by executing them off the main Ethereum chain while inheriting Ethereum's robust security.
Avalanche (Avax)
Distinct from typical Layer 2 solutions, Avalanche is a high-performance blockchain platform. It facilitates custom blockchain networks and decentralized applications (DApps) with a focus on high throughput and minimal latency, making it ideal for complex DeFi applications.
Optimism
Similar to Arbitrum, Optimism uses optimistic rollups for scaling Ethereum. Its main distinction lies in its simpler approach to transaction execution, offering a balance between speed and security, making it user-friendly for both developers and end-users.
ZkSync
This platform leverages zero-knowledge proofs, specifically ZK rollups, to offer enhanced scalability and privacy. By allowing transactions to be validated without revealing their contents, ZkSync provides a secure yet efficient Layer 2 solution.
Base Blockchain
Emerging as a newer player in the Layer 2 field, Base Blockchain focuses on interoperability and scalability. It aims to offer a platform for seamless integration of various blockchain networks, fostering a more interconnected and efficient blockchain ecosystem.
Cross-chain swaps powered by LI.FI
We’ve added LI.FI protocol to power cross-chain swaps on Flooz.xyz allowing you to seamlessly swap across 8+ leading chains & L2s in just a few clicks without leaving our platform!
Gone are the days when a user needs to leave the platform they’re on to bridge/swap their tokens across chains. Together with LI.FI we're making it seamless to swap any token and ensure they find the best available rates. For example, you can go from USDC on Arbitrum to ETH on Base or any other combination.
In the background LI.FI does the heavy lifting, finding the best swap rate across 36 DEXs, DEX aggregators, and Solvers (1inch, 0x, Uniswap, Odos, Enso,) while also finding the most efficient route to move funds between blockchains (Across, Allbridge, Connext, Circle CCTP, Stargate, and others).
Getting Started with Layer 2 on Flooz
Gone are the days when a user needs to leave the platform they’re on to bridge/swap their tokens across chains. Try out the new cross-chain swap feature here.
Connect Your Wallet ⤵️
Use an existing wallet or create one through Flooz with your email or social logins (Google, Apple, Twitter/ X, Discord).
Acquire Assets ⤵️
Flooz has partnered with renowned on-ramp providers in Web3, including our partners at MoonPay, Transak, Ramp Networks, Mercuryo and others. Flooz seamlessly aggregates all on-ramp providers, compares quotes for certain routes in real-time, and then routes the user to the offer, all whilst providing a smooth user experience and optimizing for the local jurisdiction, AML, and KYC processes.
Begin Trading ⤵️
Head to Flooz.xyz/swap to select your desired trading pair and authorize the transaction in your wallet. Enjoy a streamlined trading experience.
Discover the cutting-edge projects being developed on these Layer 2 chains. Our free guides offers an in-depth look into these dynamic ecosystems.
Note, currently, our support for these Layer 2 chains is limited to trading activities. Portfolio tracking and data indexing for these new chains are in development and will be available soon.
