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Decentralized exchange Uniswap is expanding in a way no one imagined. As announced recently, the trading platform said it will launch Unichain, its Ethereum layer-2 scaling solution. Despite the seeming saturation of the L2 scene, Uniswap believes it can make a difference.
Unichain features, top Base competitor?
According to details shared by Uniswap, it is designed to accelerate Ethereum’s scaling roadmap, prioritizing the needs of DeFi users and protocols. The new protocol will boast speed and low cost that will make DeFi highly usable.
"Unichain will be so fast, transactions will feel instant. It launches with 1 second block times, with 200-250 millisecond sub-block times coming soon. This type of speed isn't just great for UX, it also improves market efficiency and lowers value lost to MEV," Uniswap said in a statement shared on X.
The emergence of Unichain comes as Vitalik Buterin set the record straight on the standard for Ethereum L2 protocols in general. While many struggle to sustain their growth, security and decentralization, Uniswap is convinced it can do something differently with Unichain.
Unichain is ~95% cheaper than Ethereum L1
— Uniswap Labs 🦄 (@Uniswap) October 10, 2024
It also further decentralizes the chain by introducing a new validation network
Full nodes will be able to verify blocks, adding an additional layer of finality and reducing the risk of conflicting or invalid blocks
The major competitor for Unichain is Base, the scaling protocol from Coinbase exchange. While the testnet for the new L2 has gone live, the mainnet will not go live until next year.
Optimism involved
As Uniswap revealed, Optimism and Flashbots also played a key role in the launch of Unichain. Specifically, these two played a crucial role in developing the technical infrastructure behind Unichain.
Optimism has continued to play a crucial role in the broader Ethereum ecosystem, with its OP Stack powering many L2 on the market today. With Base emerging as one of its biggest success stories, Vitalik Buterin has spotlighted the strength of developer collaboration in the ecosystem.
With all eyes fixed on the Unichain testnet, many are watching to see if this new protocol will turbocharge Uniswap after the recent acquisition of a gaming title.