Norwegian Government ‘Embracing Public Ethereum’, Says Symfoni Founder and CEO - Aliens: AI Crypto News & Markets Updates
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Norwegian Government ‘Embracing Public Ethereum’, Says Symfoni Founder and CEO

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CryptoGlobe

Sat, Jun 25, 2022

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On Friday (June 24), Jon Ramvi , founder and CEO of blockchain startup Symfoni , which is sponsored by Etheruem Foundation, said that “the Norwegian Government just announced that they are releasing a solution on public Ethereum.” A Twitter thread posted by Ramvi on June 24 had this to say about this solution (“a cap tables platform for unlisted companies”): “The platform will be natively on Arbitrum , a layer 2 scaling solution for the public Ethereum network.

Layer 2s is Ethereum’s scaling strategy.“ “The ERC1400 standard represents the shares.

This allows both government agencies and the private sector to retrieve data and extend the platform’s functionality.“ Arbitrum , which is built by Offchain Labs, is “a suite of Ethereum scaling solutions that enables high-throughput, low cost smart contracts while remaining trustlessly secure.” According to a blog post by Offchain Labs published on 17 December 2021, here is why Arbitrum uses optimistic rollups instead of ZK rollups: “We built Arbitrum as an Optimistic Rollup (OR) because we believe that OR is the best way to meet users’ realistic needs for a secure, trustless, EVM-compatible L2.

“The claimed advantages of ZK either are available to optimistic systems too, or require sacrificing important security or usability features.

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