Bitcoin

Pudgy Penguins NFT Creator, Igloo Inc, Begins Developing Its L2 Network On Ethereum

Published

3 months ago

August 3, 2024

Igloo Inc, the digital asset incubation studio, toy product merchandise, and the Pudgy Penguins non-fungible token assortment mother or father firm, has began growing its layer two (L2) chain on the Ethereum principal internet referred to as Summary. The Pudgy Penguins NFT creator seems following the footprints of notable NFT tasks, reminiscent of Yuga Labs and Blur, which have additionally developed their L2 networks.

This Week in @AbstractChain:

🧊 I am intently following Summary, the upcoming shopper L2 by the @pudgypenguins workforce. They’ve had a loopy week + simply completed a founder AMA with @LucaNetz. Are poised to turn out to be a significant Blast competitor within the months forward. This is a full run-down…

— Untamed Adam (@adamagb) July 29, 2024

Pudgy Penguins Creates Its L2 Community On Ethereum

In a weblog publish shared late previous weekend, Igloo Inc. confirmed that it has began growing its blockchain community on high of the Ethereum principal community. The brand new Ethereum Layer Two community, Summary, is predicted to be “the biggest blockchain community for shopper crypto customers.”

Introducing Summary, the blockchain for shopper crypto.

By @IglooInc; @foundersfund, @fenbushi, @1kxnetwork and others will contribute in direction of bringing the subsequent technology of crypto customers, onchain.

Study extra and how you can take part under: pic.twitter.com/SjkIh0AGK0

— Summary (@AbstractChain) July 23, 2024

Revealed in June 2024, Igloo Inc. is now the mother or father firm of Pudgy Penguins, a non-fungible token assortment that includes a set set of 8,888 cute penguins hosted on the Ethereum community, and Lil Pudgys, a non-fungible token assortment that includes a restricted set 22,222 NFTs originating from Pudgy Penguins.

As a part of its roadmap development, Igloo Inc. has began creating its new layer two blockchain community that can take away the difficult elements of blockchain to get mass adoption. The Pudgy Penguins workforce joins the quickly rising listing of non-fungible token tasks which have already created their blockchain community, which incorporates Blur NFT market and Yuga Labs, the creator of Bored Ape Yacht Membership.

What Is Summary L2 Community?

Pudgy Penguins’ Summary is a zero-knowledge (ZK) L2 constructed on high of Ethereum. The Summary blockchain community is constructed utilizing the ZK stack, a standardized, shared, and open-source improvement answer for ZK rollups constructed by ZKsync, which provides it some fascinating superpowers.

The Summary will likely be EVM-compatible, permitting builders to seamlessly migrate their sensible contracts from different EVM-compatible chains. Furthermore, the upcoming Summary Layer Two community will submit validity proofs to the Ethereum L1, proving the validity of the transactions that occurred on the L2.

Within the meantime, the Pudgy Penguins workforce has launched their Testnet this week. The chief government officer, Luca Netz, will host an open AMA each two weeks to construct public confidence. The Summary will be part of the burgeoning L2 panorama, during which Arbitrum (ARB), Base, and Blast (BLAST) are at present the most important Ethereum-based L2s on the earth when it comes to complete worth locked.