Laika DOGE Layer 2 — A Deep Dive

Laika DOGE Layer 2 — A Deep Dive

All you need to know about Laika-Doge Layer 2

A few years back in 2020, precisely, during random research, I stumbled on ‘Blockchains don’t scale. Not today, at least. But there’s hope,’ an article by Preethi Kasireddy. The writer describes scaling as the single most worrying problem blockchains face. Furthermore, he proposed a few solutions to these. At the time, these scaling solutions were just proposals. Fast-forward to today, some if not all of these solutions, especially Layer 2’s, have been birthed into life.

What bothers me in his writing is using the phrases ‘scaling a blockchain’ and ‘development in the blockchain ecosystem’ interchangeably. Blockchain scaling is just a drop in the ocean of development in a blockchain. Blockchain scaling essentially increases the capacity of the network to handle more transactions, users, and data. But development in a blockchain ecosystem is more than that. Development ushers features, experiences, and tools that previously did not exist in that ecosystem.

For example, if use cases like Decentralised Finance, NFTs, and games are introduced into an incompatible ecosystem like Bitcoin, it is a development in the ecosystem, even though scaling was necessary to make this happen.

Scaling is excellent as the 1st step in blockchain development, but why should we stop there if more can be done?

This article shows the numerous problems the Dogecoin ecosystem faces and presents Laika as a solution highlighting its unique features and prospects. Our coverage will include

Dogecoin scalabilityLaika — An overviewLaika Targeted SolutionsDogeChain’s Future with Laika

Getting Started!

Dogecoin Scalability

Initially created by software engineers — Billy Markus and Jackson Palmer as a joke, Dogecoin has evolved into a full-fledged Blockchain network called DogeChain. Its building blocks are akin to Bitcoin, although not in every sense as Dogecoin —

requires less energy-resource during its Proof-of-work miningis light-hearted and community-focused, as opposed to the more serious approach employed by Bitcoin.

While these subtle differences exist, the problems Dogechain faces are similar to those of Bitcoin. Despite both networks having strong security, they suffer in aspects like —

A slow/congested network — Transactions on Dogecoin can take several minutes to confirm, which is impractical for everyday use cases, especially for DeFi.High transaction fees — The network’s capacity to handle transactions is constrained, leading to congestion and high fees during peak periods, as experienced several times with the DRC20 protocol.Lack of Smart Contract Support — Dogecoin doesn’t support smart contracts, limiting its use to simple value transfers and missing out on the potential of dApps. This limitation makes Dogecoin a difficult development space, confining its potential.

Laika — An overview

Laïka is the first Layer 2 scaling solution truly built on Dogechain. Laika’s goal is clear — scale Dogechain and usher in the latest DeFi trends into the network.

Its core idea is to leverage smart contract capabilities to enhance transaction speeds, reduce transaction fees, and facilitate interoperability with other networks. Laika’s vision of incorporating DeFi features into Dogechain is reflected in its adoption of use cases like Liquidity pools, yield farming, NFTs, games, and more.

Laika’s Target Solutions

Laika introduces several key features designed to foster

1. Faster Transactions and Scalability

Laïka is designed to handle higher transaction volumes without compromising speed, addressing one of Dogechain’s primary weaknesses. As an L2 solution, it processes transactions off-chain, achieving confirmation times as low as 3 seconds, bundles these transactions, and communicates with the main chain for security verification.

Offloading allows Dogechain to maintain its integrity without slowing down due to high transaction demand. This increase in scalability offers support to DeFi within the Dogechain, where quick and cost-effective transactions are essential.

2. Security through the Dogechain

Laika leverages Dogecoin’s robust security by submitting cryptographic proofs of transactions to the Dogechain. This ensures that the L2 transactions are securely verified on the L1 chain, maintaining the integrity and security of the system.

3. Smart Contract Functionality

Laika’s compatibility with the Ethereum Virtual Machine (EVM) allows developers to create and deploy sophisticated smart contracts and DApps using well-known standards. This opens up new possibilities for Dogecoin, enabling a wide range of innovative applications and functionalities previously unattainable.

4. Incorporating Top DeFi Narratives

So far — NFTs, gaming, and Liquid staking are the sectors with the most explosive growth, and Dogechain, for the first time, is perfectly positioned to hop on these trends. Liquid staking is already live. You can Stake $DOGE through L1 or Laika and get $mDOGE to earn $LAIKA yield while keeping your assets liquid. Start your Doge Liquid staking journey here.

NFTs and gaming require low-cost, high-speed transactions to facilitate in-game purchases, digital ownership transfers, and marketplace activities. Laïka’s zero-fee transactions and fast processing times make it an ideal platform for these use cases within the Doge ecosystem. As time passes, Laïka will be a catalyst for the creation of NFT marketplaces and gaming ecosystems powered by Doge, where users can buy, sell, and trade digital assets seamlessly. Including these top narratives will attract builders, investors, and users into the ecosystem.

Dogechain Future with Laika

Bridging Doge Native Assets

Users can seamlessly transfer Dogecoin between L1 and L2. The bridge will support other Doge native assets, like DRC20 assets, enhancing community onboarding on Laïka and awareness around DRC20 assets. Thanks to account abstraction (AA), Doge native assets can be used without complexity.

Introducing the First On-Chain Useful Yield for Doge

$LAIKA is used as the proof of stake token, but $DOGE will also be usable, creating the first on-chain $DOGE staking with rewards in $LAIKA for securing the network. This gives the Doge community a use case and yields for their Doge, encouraging them to move from CEXs back on-chain.

Hub for All Memecoins

Laika’s bridge will also support tokens from other chains, including meme coins like PEPE or WIF, offering them the possibility to return to their true origins on the Dogecoin network.

Maintaining Doge as a Payment Method

A portion of the Doge community sees Doge primarily as a payment method. Laika will further develop this potential by enabling smoother and smarter transactions, enhancing Doge’s utility as a medium of exchange.

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Laika Resources

Head over to the Website: https://laikachain.dog/Follow on Twitter: @Laika_Layer2Read Docs: https://litepaper.laikachain.dog/

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Laika DOGE Layer 2 — A Deep Dive was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.