CyberConnect Unveils Re-Staking Ethereum L2 Network ‘Cyber’ to Scale Social Web3 Applications
In Brief
CyberConnect announced the launch of Cyber, a re-staking modular Ethereum L2 network slated to go live on mainnet in third quarter of 2024.
Decentralized social protocol CyberConnect announced the launch of its modular Ethereum Layer 2 network, Cyber, slated to go live on the mainnet in the third quarter of this year.
Supported by EigenLayer and Optimism, Cyber will collaborate with AltLayer to function as the social layer for web3 applications and provide a gateway for new users to access web3 experiences, tools, and financial liquidity across all Layer 2 ecosystems.
The announcement comes as CyberConnect reveals the commencement of CYBER staking, enabling participants to earn CYBER Season 2 rewards. At the conclusion of the three-month campaign, stakers will stand to receive up to 1 million CYBER tokens.
In a bid to scale social apps while maintaining alignment with Ethereum, Cyber is powered by EigenLayer, capable of executing over 100,000 transactions per second with sub-cent gas fees. Moreover, the network will support dual staking of ETH & CYBER in the future to enhance network security.
“Blockchain-based social networks are insufficient for real adoption in the current state. Developers have their backs against the wall with poor UX, high gas fees, & low throughput. They are working with blockchain economies that are incompatible with their social use cases,” said the company in a X tweet. “If it continues like this, web3 social will never take off to reach billions. Cyber is the first L2 that is specifically designed for social & optimized for mass adoption.”
Cyber has committed to Optimism‘s Superchain to furnish the social infrastructure for the entire ecosystem, allowing users and developers onboarded through Cyber to access the on-chain economy across Superchain.
The platform aims to onboard a billion users onto web3 with smart accounts, natively supporting account abstraction with EIP-7560 and offering native EIP-7212 support to empower users to control their accounts with passkeys or FaceID. In terms of economies, Cyber will enable developers and users to earn native yield with bridged ETH, LST, and LRT, passive income through shared protocol fees and ecosystem rewards.
CyberConnect asserts that Cyber will empower building and growing social apps significantly, boasting an enshrined social graph to bootstrap apps and leverage shared network effects. Additionally, CyberDB, a decentralized storage service powered by EigenLayer AVS, will offer a cost-friendly and performant solution.
The Cyber Sepolia Testnet is set to go live next week and will be securely deployed by AltLayer, marking a significant milestone in the platform’s development journey.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.About The Author
Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
More articles
Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
