<p>South Korean blockchain solutions provider Seoul Labs <a href="https://www.etnews.com/20231122000352" rel="noopener noreferrer nofollow">announced</a> Thursday (local time) that it will build a layer 2 mainnet utilizing the third-generation blockchain engine SASEUL. This comes in an effort to strengthen the scalability of the SASEUL network and improve capabilities for large-scale traffic processing. Layer 2 refers to a set of off-chain solutions built on top of a layer 1 network to reduce bottlenecks with scaling and data.</p><h2 id="header-0">Scalability and stability</h2><p>Seoul Labs plans to actively utilize the mainnet’s core functions, such as its HAP-2 hypothesis acceptance verification algorithm and dual chain mechanism as well as its ability to solve storage space problems. In particular, the HAP-2 hypothesis acceptance verification algorithm is a more efficient method for generating blocks than the proof of Work (PoW) algorithm that is widely used in blockchain mainnets, significantly improving scalability.</p><p>According to the company, the layer 2 mainnet will implement an approach to becoming a node on the network without a graphics processing unit (GPU).</p><p>“By building the layer 2 mainnet, we will be able to build the SASEUL blockchain network into a stable and scalable platform,” said Dohee Jang, CEO of Seoul Labs.</p><h2 id="header-1">Multifaceted solution</h2><p>The project is also poised to become a solution to the excessive computing resources and electrical energy required to run blockchain networks that lead to environmental repercussions. In addition, the company is facilitating research and development for the implementation of central bank digital currencies (CBDCs) into the global economy. Notably, the South Korean government is also planning to launch a CBDC pilot project by 2024.</p><p>“Recently, central banks around the world have been promoting the integration of CBDCs, but they are facing various problems in terms of scalability and speed,” said an unnamed employee at ArtiFriends, the company behind the SASEUL mainnet. “Layer 2 mainnet is a stable and scalable platform suitable for CBDCs.”</p>

Seoul Labs to build layer 2 blockchain mainnet using SASEUL

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