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May 08, 2024

Lisk Officially Transitions To Ethereum Layer 2 And Unveils Core v4.0.6

In Brief

Lisk released Lisk Core v4.0.6, featuring the implementation of the shutdown node plugin to autonomously deactivate nodes.

Lisk Officially Transitions To Ethereum Layer 2 And Unveils Core v4.0.6

Ethereum Layer 2 network, Lisk (LSK) unveiled the release of the Lisk Core v4.0.6, featuring the implementation of the shutdown node plugin. This plugin is designed to autonomously deactivate nodes following the completion of the Layer 1 mainnet snapshot at block height 24,823,618, which is anticipated to happen around May 21st.

Lisk has officially separated from the Layer 1 mainnet. With the blockchain’s shift to Ethereum Layer 2, the Lisk Layer 1 mainnet and Layer 1 LSK tokens will be discontinued. Instead, LSK tokens will exclusively function on the Ethereum network and Lisk Layer 2 as ERC-20 tokens.

Originally launched as a Layer 1 blockchain in 2016, Lisk made the decision to transition to Layer 2 in the previous year. With the increasing adoption of the Ethereum Virtual Machine, Lisk believes that migrating to become an Ethereum Layer 2 provides a better opportunity to accelerate its mission.

Lisk Layer 2 network is based on Optimism (OP), while being secured by Ethereum. Utilizing the MIT-licensed OP Stack and collaborating with Gelato as a rollup-as-a-service (RaaS) provider, Lisk plays a role in enhancing Ethereum’s scalability for widespread adoption. Lisk’s new network focus lies in real-world assets (RWA) and decentralized physical infrastructure networks (DePINs).

Lisk Initiates LSK Airdrop To Reward Original Community Members With 3M Tokens

The transition also encompasses the migration of the LSK token to Ethereum, aiming to enhance its functionality across a range of decentralized applications (dApps) and decentralized finance (DeFi) protocols within the Ethereum ecosystem.

Recently, Lisk launched its first LSK token airdrop in collaboration with the airdrop management platform HodlerDrop, coinciding with the project’s transition to Layer 2. The aim is to reward its original community members with a significant total of 3 million LSK tokens, determined based on their participation and holdings at the time of migration.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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