Layer3

Peer-to-peer Layer3 <a href="https://www.yellow.org/" rel="noopener noreferrer nofollow">Yellow Network</a> has announced it is launching a beta version of its testnet, along with an exclusive incentive program. Yellow will carry out a selection program to identify testers eligible to participate in network activities in return for rewards. Following this closed beta, Yellow will launch an open testnet prior to implementing the mainnet version of its counterparty settlement network.
Yellow Network was conceived to pave the way for institutional adoption of digital assets, providing the blockchain infrastructure for finance but solving the legacy challenges of digital asset transactions, such as counterparty risk, fragmented liquidity, and poor user experience. As a Layer3 network, it uses off-chain state channels to facilitate order book trading, clearing, settlement, and compliance activities on a single platform. The protocol connects to multiple exchanges to share liquidity and has connection points to major blockchains for cross-chain collateral and settlements. Yellow is also non-custodial, with user funds held in secure multi-signature contracts and wallets.
Since trading on Yellow takes place off the main chain, the platform makes use of ClearSync, a protocol that verifies each party has sufficient capital to fulfill their trades, ensuring zero counterparty risk for traders. By offering an all-in-one, purpose-built protocol for trading, Yellow aims to create a transparent financial system that combines the most appealing elements of DeFi and TradFi.
The beta testnet will launch on Duckies, Yellow’s canary network for live test deployments, which promote rapid experimental innovation. The project has extended an invitation to testers and will begin appraising submissions from December 13. Successful applicants will be invited to participate in testing Yellow’s core features, including depositing collateral, executing orders, and converting assets on the testnet. Testers will receive rewards in $DUCKIES in return for providing feedback and reporting issues for resolution.
Following the successful closed beta, Yellow will announce the next steps regarding an open beta prior to the mainnet launch.
<h2 id="b-institutional-players-gearing-up-for-2024-b">Institutional Players Gearing Up for 2024</h2>
 The project’s move to the mainnet could be timely in light of a growing investment appetite for digital assets among institutional market participants.
A recent <a href="https://www.coinbase.com/blog/institutional-investor-survey-confirms-staying-power-of-crypto-among" rel="noopener noreferrer nofollow">survey</a> from leading exchange Coinbase discovered that nearly two-thirds of institutional investors who are currently holding cryptocurrencies are planning to increase their allocations in the coming years, while nearly 45% of those not yet invested have indicated they are likely to move into the sector.
More than half of respondents said they expected prices to increase in 2024, compared with just 8% who gave the same response in last year’s survey.
&nbsp;
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of <a href="https://Cryptonews.com" rel="noopener noreferrer nofollow">Cryptonews.com</a>.

Layer3 P2P Clearing Network Yellow Launches Incentivized Testnet

Table of Contents

Cryptonews.com

Other articles published on Dec 21, 2023

How AI Applications Make Businesses Flourish With Novel Solutions

3 Reasons the Bitcoin Minetrix Presale Shouldn’t Be Missed this Week

Bitcoin firm above $40K, Michael Saylor says bull run imminent

Pokémon Scarlet and Violet: Epilogue DLC Coming January 11, 2024

Celsius Sells $250 Million Worth of Assets in One Month, Dominated by ETH

AWS expands commitment to support Nigeria’s tech drive in collaboration with FG

Join our free newsletter for daily crypto updates!