Layer 2 Protocol EdgeSwap Launches Testnet to Bring Scalable, Low-Cost Transactions to Ethereum Users

LONDON, Oct. 25, 2021 /PRNewswire/ -- EdgeSwap, an Ethereum-based layer 2 trading protocol using ZK Rollup technology, today announced it has been deployed on Rinbeky Testnet. Starting today, users can join the testnet whitelist event to begin trading on layer 2, as well as transfer tokens from layer 2 to layer 1 of the test network. Users who contribute to and help improve EdgeSwap during the testnet phase will stand a chance to win one of three special limited edition NFTs or share in a bounty of 2,000 USDT.

Over the past year, Ethereum has seen a surge of activity thanks to the rise of decentralized finance, of DeFi apps on the network. While the increase has catapulted Ethereum to new heights, activities like token swapping, yield farming, and trading have led to congestion. Ultimately the congestion leads to slower transaction times and higher costs, making it difficult for developers, users, and projects alike to contribute to the network.

To address these issues, EdgeSwap has four distinct components and capabilities to bring high scalability, outperformance, and more security to users and developers in the Ethereum ecosystem:

• Layer 2 payment & AMM system. Built on Ethereum Layer 2, the AMM payment system focuses on liquidity pool, swaps, etc. while providing second-level confirmation and zero gas fees.
• Top-level layer 1 and layer 2 Interactive Systems. By upgrading the ZK Rollup solution, EdgeSwap can realize withdrawals in as fast as a few minutes. Transferring from layer 2 to layer 1 is three to five times faster, and gas fees are reduced by 98%.
• Decentralized farming on layer 2. Users can stake and earn rewards on layer 2 by optimizing the execution environment and proof of circuit environment.
• Emergency data recovery & asset extraction capability. When layer 2 fails, users can obtain data from the contract's transaction records to restore the layer 2 state tree and generate a certificate to retrieve the funds.

Now users can participate in the whitelist event to witness and experience the successful deployment and product updates of the EdgeSwap. For more details on the event, visit: https://twitter.com/EdgeSwap/status/1451823425182318596?s=20

About EdgeSwap

Developed by Edge Labs, EdgeSwap is an Ethereum-based layer 2 trading protocol that adopts the ZK Rollup technology. With the industry's top-grade hardware acceleration solution and circuit optimization system, EdgeSwap provides the market with high-performance, cost-effective swapping and farming services. At the same time, it protects users' assets and privacy through the highest level of security among layer 2 scaling solutions.

SOURCE EdgeSwap