The company said that Laurent Zhang, the founder and president of Arcology, had updated on progress and quoted him as saying that “30% of the Arcology code has been re-written to cover some key functionalities of Ethereum Layer 2 (L2) scaling solutions”
Codebase Ventures Inc noted the progress made by blockchain ecosystem Arcology, in which Codebase is invested, which will benefit Ethereum developers.
Codebase owns 30% of Arcology, with an option to increase that to 51%.
The company reported that Laurent Zhang, the founder and president of Arcology, had updated on progress and quoted him as saying that “30% of the Arcology code has been re-written to cover some key functionalities of Ethereum Layer 2 (L2) scaling solutions”.
“L2 has been of one the hottest topics in the blockchain world. With L2, different Ethereum applications can run in parallel. Many believe L2 can solve the Ethereum scalability issue,” said Codebase.
But L2 has a major drawback in that they aren’t ‘composable,’ which makes it inherently difficult for different L2s to interact with each other, said Codebase, adding that Arcology was now “fully composable and therefor offers developers an advantage”.
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“For developers, changing some code in the smart contracts requires additional effort. Using Arcology in its updated form, developers can simply redeploy whatever they have to Arcology, and the system makes it seamless, without the requirement to change any code,” said Zhang.
“With the latest version of Arcology, Ethereum developers no longer need to make any change to their smart contracts. Once they move their applications to Arcology, they will experience significant performance gains right away,” said Codebase.
Codebase Ventures seeks early-stage investments in sectors that have significant upside. With its headquarters in Brooklyn, Codebase’s team members are based globally from Belgrade to Vancouver.
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