Ethereum Layer 2 LightLink Debuts on Celestia Mainnet

by

As a researcher with experience in blockchain technology and Ethereum L2 solutions, I am excited about LightLink’s recent announcement of integrating Hummingbird with Celestia’s Mainnet. This strategic move is crucial for LightLink to achieve its goal of 10,000 TPS while reducing storage costs and improving security.

In a significant development, LightLink, the Ethereum Layer 2 blockchain solution, unveiled the incorporation of Hummingbird into Celestia’s mainnet. This integration is pivotal as it aims to decrease storage expenses and bolster security for LightLink, en route to achieving its target of 10,000 transactions per second (TPS).

In a press release today, Ethereum Layer 2 solution LightLink unveiled the debut of its Hummingbird client on Celestia’s main network. This integration is a significant step forward for LightLink as it strives to achieve a transaction speed of 10,000 transactions per second (TPS). By joining forces with Celestia, LightLink aims to cut storage costs and bolster security.

Reduced Transaction Fees and Greater Scalability

LightLink, an Ethereum L2 blockchain, enables decentralized applications (dApps) and businesses to provide their users with gas-free transactions. Hummingbird, a client developed by LightLink, will be integrated with Celestia’s Mainnet to boost scalability, decrease transaction costs, and strengthen security. By utilizing Celestia’s robust data integrity, unchangeable records, and modular data accessibility, LightLink’s Hummingbird aims to significantly reduce operational expenses within the LightLink ecosystem.

At present, LightLink is among the top data consumers on Celestia’s Testnet, occupying approximately 18.9 GB of “blobs” (binary large objects), accounting for around 84.5% of the entire storage capacity on the Testnet. Surprisingly, despite being a significant contributor to Celestia’s data usage, LightLink boasts relatively minimal storage fees. It spends only $0.09 per MB stored, which can be attributed to its competitive fee structure and Celestia’s algorithmic optimization. These two elements collaborate to pursue the most affordable costs and progressively decrease them until the optimal outcome is attained.

Roy Hui, CEO and co-founder of LightLink, commented on the project, saying: 

“Incorporating Celestia brings down storage expenses and heightens security as part of our plan to reach a 10,000 TPS blockchain. By adopting Celestia for our data availability layer, we’ll save on storage costs compared to Ethereum. This savings can be passed along to users through cheaper transaction fees. The end result is a quicker, more dependable platform that boasts better performance and accessibility, all while dealing with the high gas fees associated with Layer 1 protocols.”

Addressing Critical Challenges

In February 2024, LightLink unveiled Hummingbird as a self-contained solution. Designed by LightLink, this innovation is crucial for tackling significant data access issues. Hummingbird safeguards against potential hurdles posed by validators on LightLink’s Ethereum transaction layer, reflecting the core principle of blockchain technology: “Verify, don’t trust.”

The role of Hummingbird involves checking the execution of states, confirming transactions for inclusion, and verifying data accessibility. Moreover, it ensures that each block’s information is disseminated and open for independent validation by validators, enabling them to verify transaction accuracy on their own.

As a researcher studying the advancements in Celestia’s L2 networks, I’m excited to share that following Hummingbird’s integration, LightLink will be introducing Blobstream – an adaptable data stream instrument. This innovative tool facilitates the transmission of Celestia’s data root commitments, empowering developers to establish high-performance operations within L2 networks. The Blobstream integration is anticipated to roll out in the upcoming months, paving the way for LightLink to create an engaging “challenger/defender” game designed specifically for community validators. This game will ensure data availability by incentivizing active participation from network participants.

The Hummingbird integration closely follows the April token debut of LightLink, represented by the symbol $LL. This token is now available for trading on platforms like Uniswap, KuCoin, Bybit, Gate.io, and Elektrik. Not long ago, LightLink completed its extended seed funding round and public financing, successfully raising a total of $11.5 million. These funds will be utilized to advance the development of a gasless architecture for blockchain technology.

Read More

2024-06-05 20:44