Lisk Announces Move to Ethereum Ecosystem as Layer-2 Platform

5:10 am
December 20, 2023
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**Lisk Transitions to Ethereum Ecosystem as a Layer-2 Platform**

Lisk, a platform for decentralized applications (dApps), has announced its decision to transition to the Ethereum ecosystem as a layer 2 (L2) platform. The move is based on the findings of the company’s research, which revealed that over 90% of user transaction fees on L1 platforms were Ethereum-based.

The official blog post from Lisk shared that the upcoming ecosystem is being built on Gelato’s Rollup and will be powered by Optimism’s OP Stack. The decision is the result of extensive research conducted at the start of the year, aimed at expanding the platform’s product roadmaps and gaining a deeper understanding of L1 and L2 landscapes.

According to the announcement, The Lisk Foundation will execute the move next year. The foundation will collaborate with Base and Optimism as an early member of Optimism’s Superchain, which is committed to openness and decentralization. The transition will enable Lisk to join a consortium of chains that share a commitment to attracting the next 1 billion users in Web3.

The deployment of the L2 testnet is scheduled for the first quarter of 2024, followed by a developer launch in the second quarter, and then the mainnet launch. The move will offer several benefits, such as 90% cheaper fees for developers compared to the Ethereum mainnet, the same security level as Ethereum, and compatibility with the Ethereum Virtual Machine (EVM).

EVM compatibility will provide Lisk developers access to a wider range of tools for dApp building, and allow existing EVM-based applications to be easily deployed on Lisk. Additionally, Lisk users and developers will benefit from higher liquidity across thousands of tokens and will be able to transfer any ERC-20 token to and from Lisk’s L2.

Furthermore, the move aims to address the fragmentation created by L1 and isolated L2 chains, making it easier for users to interact with applications on various platforms part of the Superchain. The Lisk L1 is expected to transition into a community-driven project and be maintained by the Lisk community team (Moosty) under a new brand and name for the next two years, with financial and technical support from the Lisk Foundation.

**Benefits of the Transition to Ethereum**

The decision to integrate with Ethereum will not only provide specific benefits for Lisk but also enable the platform to leverage the OP Stack and join the Superchain, which encompasses several different chains striving towards a common goal. In summary, the move is projected to open up new avenues for Lisk’s development, improve user experience, and create a more cohesive ecosystem for decentralized applications.


**FAQs**

1. **What is Lisk?**
Lisk is an open-source blockchain network and platform for decentralized applications (dApps).

2. **Why is Lisk transitioning to the Ethereum ecosystem?**
Lisk’s transition to the Ethereum ecosystem as a layer 2 (L2) platform is based on research findings revealing that over 90% of user transaction fees on L1 platforms were Ethereum-based.

3. **What are the benefits of Lisk’s integration with Ethereum?**
The integration with Ethereum will provide benefits such as 90% cheaper fees for developers compared to the Ethereum mainnet, EVM compatibility, higher liquidity, and easier interaction with applications across different platforms within the Superchain.

4. **What will happen to the Lisk L1 platform after the transition?**
The Lisk L1 platform is expected to become a community-driven project, maintained by the Lisk community team (Moosty) under a new brand and name for the next two years, with support from the Lisk Foundation.

5. **When will the transition to the Ethereum ecosystem take place?**
The Lisk Foundation is scheduled to execute the transition next year, with the deployment of the L2 testnet in the first quarter of 2024, followed by a developer launch in the second quarter, and then the mainnet launch.


The article is based on the original content from Lisk’s official blog post.


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