Cardano is making advancements in its Layer-2 scaling solution, with Sundaeswap announcing the completion of the initial draft specification for its L2 protocol called Gummiworm. If successful, this move could position Cardano to compete with Ethereum in the long term. Layer-2 protocols are becoming a significant battleground for Layer-1 blockchain platforms, with Ethereum leading the way with its L2 ecosystem, which includes projects like Uniswap's Unichain, Arbitrum, and Polygon. Currently, Ethereum's L2 solutions have a larger share of total value locked (TVL) in DeFi compared to Cardano.



Other News from Today