Cardano is set to unveil its first Layer 2 (L2) permissionless solution, putting itself ahead of other blockchains like Ethereum. The announcement was made during the Cardano 2024 Conference in Argentina, where Philip DiSarro, CEO and co-founder of Anastasia Labs, detailed the upcoming launch of Midgard, a promising rollup designed to improve ADA’s robustness and performance.
DiSarro highlighted Midgard’s unique development with X, saying, “No other blockchain has been able to achieve a true blockchain standard. At the end of the day, the top ‘L2s’ in the blockchain space right now are all multisig storable.” He emphasized that existing L2 solutions rely heavily on multi-signaling systems, which introduce middleware into an otherwise decentralized blockchain environment.
Cardano Is Ahead Of Ethereum, Solana And Sui
Midgard differentiates itself by achieving the full security of Cardano’s Layer 1 (L1) through several new features. Unlike Ethereum’s L2 like Arbitrum, Optimism and Base, Midgard operates without centralized sequencing, proof of challenge, multiple signatures, or custodians. Instead, it uses a permissionless user set, unreliable fraud proof, and untrusted deposits and withdrawals, ensuring that the inbox and outbox channels remain fully audit-proof.
With X, DiSarro highlighted Cardano’s unique Local Unexploited Output (EUTxO) architecture. “All this happened because of the EUTxO architecture of the Cardano world. UTxO contention, small block size, local state, transaction determinism— all of these ‘problems’ may lead you to question why these design choices were made. Midgard aims to show you that these are no problems at all.”
Founder Anastasia Labs also said: “In fact, the opposite is true; they are extremely dynamic structures, providing a unique value not found in any other ecosystem. These are, in fact, the core pillars that make Midgard possible in the first place,” DiSarro explained.
Midgard’s architecture is said to use the inherent strength of the ADA design, making it difficult to replicate on other blockchain platforms such as Ethereum, Solana, or Sui. DiSarro asserted, “You can’t build Midgard on Ethereum, Solana or Sui. It is a protocol only possible on Cardano. “
The upcoming launch of Midgard is expected within the next few months, with DiSarro confidently predicting its impact: “Real rollups, L2 agreements that inherit the full security of L1, are coming in the next few months. Our hopeful collection, Midgard, is the first to be permissionless.”
The announcement drew attention from the ADA community and beyond. Danogo, the first decentralized exchange (DEX) that trades Optim Bond tokens on Cardano, spoke about DiSarro’s presentation at the Cardano Conference: “Only on Cardano you can have a new generation of permissionless Rollup! No multi sigs manage Layer-2 like Ethereum! Even Vitalik can see that now. […] That achieves full security at L1. And Cardano will have the first completely permissionless L2 in a few months!!!!”
In addition, Charles Hoskinson, the founder of Cardano, responded to the conversation with a meme on X saying, “This guy gets it,” showing his approval of DiSarro’s vision and Midgard’s power.
At press time, ADA traded at $0.343.
Featured image from X, chart from TradingView.com
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