{"id":89874,"date":"2024-02-21T22:17:29","date_gmt":"2024-02-22T03:17:29","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=89874"},"modified":"2024-02-21T22:17:30","modified_gmt":"2024-02-22T03:17:30","slug":"former-fidelity-international-executive-luc-froehlich-joins-layer-n-advisory-board","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89874","title":{"rendered":"Former Fidelity International Executive Luc Froehlich Joins Layer N Advisory Board"},"content":{"rendered":"<div>\n<div class=\"row mb-20\">\n<div class=\"col-12 col-lg-9 col-xl-8\">\n<div class=\"author-section\">\n<div class=\"author-info\">\n<p>\n                                                            <span>Last updated:<\/span><br \/>\n                                                        <time datetime=\"2024-02-22T00:03:01+00:00\"><br \/>\n                              February 21, 2024 19:03 EST                            <\/time><br \/>\n                                                             <span class=\"date-v-line\">|<\/span> 2 min read\n                                                    <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div><figcaption class=\"wp-caption-text\"><\/figcaption><p><span data-preserver-spaces=\"true\">Layer N, a roll-up network focused on scaling financial applications on Ethereum, has appointed Luc Froehlich, a former executive at Fidelity International based in Hong Kong, to its advisory board.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Froehlich previously served as the global head of digital asset solutions at Fidelity International, where he led the company\u2019s exploration of cryptocurrencies and tokenized assets for seven years.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Froehlichr Highlights Protocol\u2019s Innovative Approach to Decentralized Exchanges<\/span><\/strong><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Layer N is a Layer 2 network built on Ethereum that\u2019s focused on supporting decentralized exchanges designed to replicate their centralized counterparts.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In an interview, Froehlich expressed his motivation for joining Layer N\u2019s advisory board, citing the protocol\u2019s ability to address the fragmentation in financial technologies.\u00a0<\/span><span data-preserver-spaces=\"true\">He highlighted the project\u2019s architecture, which introduces a network of customizable virtual machines capable of seamless communication and liquidity sharing, overcoming the siloed nature of traditional systems.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cBy introducing a network of customizable virtual machines that can communicate and share liquidity seamlessly, Layer N overcomes the often siloed operation of traditional systems,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Froehlich emphasized Layer N\u2019s utilization of zero-knowledge proofs (ZK) to address the need for transaction confidentiality in traditional finance. By enabling verification without disclosing transaction content, the project meets regulatory and competitive requirements while ensuring confidentiality. <\/span><span data-preserver-spaces=\"true\">He asserted that blockchain technology is now poised to challenge the outdated infrastructure of traditional finance, signaling a significant shift in the industry landscape.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Layer N Unveils Nord Roll-up Testnet, Poised to Revolutionize Decentralized Exchanges<\/span><\/strong><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Layer N has unveiled plans to deploy a public testnet for its Nord specialized exchange roll-up, which promises significantly improved throughput and latency compared to existing scaling solutions. The Nord roll-up is expected to offer performance comparable to centralized exchanges like Binance and Coinbase, allowing decentralized exchanges to achieve similar levels of efficiency.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">During testing on a closed testnet, the Nord Engine demonstrated the capability to handle high trading activity, reaching a peak of 120,000 transactions per second. While sustaining a rate of 20,000 transactions per second over an extended period, Layer N confirmed the roll-up\u2019s robustness and scalability. Layer N\u2019s mainnet is expected to go live sometime this month.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Layer N\u2019s CEO and co-founder, Dima Romanov, outlined the vision of launching multiple optimized roll-ups, including a version of the Ethereum Virtual Machine compatible with the Nord Engine. Developers leveraging the platform will be able to build native integrations, empowering them to create applications directly on top of decentralized exchanges.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">One of Layer N\u2019s key technologies is EigenDA, which efficiently stores batched transaction data, reducing costs compared to storing data directly on the Ethereum mainnet. <\/span><span data-preserver-spaces=\"true\">In September 2023, the project secured $5 million in a seed funding round led by Founders Fund and dao5, with participation from investors such as Kraken Ventures, Mirana Ventures, GSR, and Amber Group.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Layer N recently announced its expansion into the Asian market through a strategic investment from BlackPine and a partnership with VSFG. These initiatives aim to bolster its Web3 offerings in the region, further solidifying its position in the evolving financial technology landscape.<\/span><\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/former-fidelity-international-executive-luc-froehlich-joins-layer-n-advisory-board.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last updated: February 21, 2024 19:03 EST | 2 min read Layer N, a roll-up network focused on scaling financial applications on Ethereum, has appointed Luc Froehlich, a former executive at Fidelity International based in Hong Kong, to its advisory board. Froehlich previously served as the global head of digital asset solutions at Fidelity International, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":89875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-89874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former Fidelity International Executive Luc Froehlich Joins Layer N Advisory Board | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Last updated: February 21, 2024 19:03 EST | 2 min read Layer N, a roll-up network focused on scaling financial applications on Ethereum, has appointed Luc\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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