Pontem, a studio dedicated to developing Move and EVM-compatible products, has announced the launch of the Layer2 solution Lumio to drive Web3 towards a more secure, performant, and developer-friendly direction. Lumio aims to address Ethereum's scalability challenges and bring a Web2-like user experience to millions of users on Web3. By utilizing high-throughput chains such as Aptos to order transactions, Lumio enhances transaction bandwidth while retaining the security and liquidity of Ethereum itself.
Lumio is an Optimistic Rollup network built on the open-source stack of the OP stack, and it possesses three unique advantages.
First, it settles on top of Ethereum and utilizes other L1s (especially Aptos) to process transactions, achieving low latency and high throughput while directly leveraging the liquidity advantage of Ethereum. Second, Lumio is compatible with Move and EVM, allowing developers to continue using Solidity and also utilize Move for application development. Lastly, Lumio adopts a Dapp-centric gas economic model, enabling application developers to benefit from network usage.
Alejo Pinto, co-founder of Pontem, stated, "With the launch of Pontem's L2 solution Lumio, achieving a Web2-like experience on Web3 is becoming increasingly closer. Most of the value of Web3 is locked in the Ethereum ecosystem in the form of ETH and ERC20 tokens, but compared to existing L2 solutions, Aptos offers better performance and lower costs, and can be combined with the reliability of Ethereum settlement to achieve scalability on existing L1. Pontem is realizing the vision of horizontally scaling Ethereum through interconnected L2 to meet the concurrent needs of millions or even billions of users."
The Move virtual machine (VM) represents a significant advancement in the secure, high-performance Dapp development field. Through parallel execution, Move VM achieves significant scalability efficiency and can theoretically process up to 100,000 transactions per second (TPS) on high-performance blockchains such as Aptos, greatly enhancing user experience. From a security perspective, Move VM also introduces innovative features such as atomic resource model, local validators, and formal verification. The Rust-based Move VM was initially built by Meta, one of the world's largest tech companies, designed specifically for smart contract development.
In the first phase, Lumio L2 will become part of the Optimism Superchain ecosystem to leverage the liquidity and user network effects of other L2s such as Base and Mantle. As Pontem seeks to expand its influence in this ecosystem by building interconnected L2 network architectures on other ecosystems such as Arbitrum and zkSync.
The Lumio testnet is now live, for more detailed information please visit https://lumio.io/ and follow on Twitter @LumioFDN.
About Pontem
Pontem, as a product development team, is dedicated to developing Move and EVM-compatible products to achieve a more secure, performant, and developer-friendly Web3. Pontem's Move VM platform enables developers to build high-performance projects based on Move and EVM without fully relying on Ethereum's complex programming language Solidity. Pontem's products include Pontem Wallet for the Aptos ecosystem and Liquidswap AMM DEX, among others. With support from Lightspeed, Pantera, Animoca, and other well-known VCs, Pontem is building foundational decentralized applications and infrastructure to accelerate blockchain applications and drive global finance towards inclusivity.
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