Igloo Inc, the company behind the famed NFT collection, Pudgy Penguins, has started developing its own layer two blockchain network on Ethereum, called Abstract. It follows moves like those by other leading NFT projects such as Yuga Labs and Blur in creating similar crypto networks.
In a blog post late last weekend, Igloo Inc. revealed that they are currently building a new blockchain network on Ethereum—namely, Abstract. It will be an L2 network targeted at be the largest blockchain network for everyday crypto users. Igloo Inc., the owner of the Lil Pudgys NFT collection, hopes Abstract will make blockchains easy to use and hasten its mass adoption.
is a ZK-based L2 on Ethereum. Abstract taps into the power and performance of ZKsync's ZK stack. On top of that, Abstract will support EVM compatibility, and in doing so, it would be easy for developers to port their smart contracts to the Abstract blockchain. It will also give validity proofs to Ethereum, which provides security for transactions.
This week, the team of Pudgy Penguins launched their Testnet. Their CEO, Luca Netz, will also be having an open AMA every two weeks to clear all doubts and bridge trust amongst the community members. Abstract joins the list of popular Ethereum-based L2s such as Arbitrum, Base, and Blast.
Igloo Inc. is very elated over this move and hopes Abstract makes blockchain technology more accessible and widely used.
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