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Thoughts on Layer 3? (Loopring, Taiko)

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by COINS NEWS 13 Views

(Note: I'm not a shill, I don't have any crypto I'm too poor. I used to follow Loopring and it was promising last year).

What are your thoughts on Layer 3?

When loopring went all out last year, they were one of the first projects to enable minting NFTs on Layer 2.

For those of you that do not know, Loopring Layer 2 is a smart contract on the ethereum Layer 1 chain. Transactions are a lot faster and waaaay cheaper. The only downside to this is that there was no way to deploy smart contracts on Layer 2, only mint NFTs and send coin.

One of the main lead members from Loopring branched off and started developing Taiko, which is a L2 project which enables deploying smart contracts on Layer 2, which will he at the fraction of the price compared to deploying contracts on Layer 1 (ethereum).

The Loopring smart contract will be deployed on Taiko, which will then result it becoming a Layer 3 project, making transactions and minting a lot easier. On top of that the fraction in pricing I am talking about is huge. A transaction on L1 can cost $10, that same transaction ob Loopring Layer 2 would be $0.02.

Will Layer 3 make this even cheaper? I'm mainly eyeing up the idea of deploying smart contracts, because i can't afford $200 to deploy my game on ethereum.

What are your thoughts on this?

Also, controversial opinion, but I think the current price of Loopring is attractive and I hope it does not increase. People hoping it would reach $1 again are into it for the wrong reasons.

submitted by /u/AtomSizeGrow
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