In the most recent installment of Cointelegraph’s podcast series, Hashing it Out, host Elisha Owusu Akyaw engages in a discussion with Roy Hui, the co-founder and CEO of LightLink, a layer-2 blockchain platform. Hui delves into the current state of the blockchain industry, the hurdles faced by layer-2 solutions, and LightLink’s innovative approach to overcoming these obstacles.
Reflecting on the existing landscape of blockchain technology, Hui acknowledges the saturation of both layer-1 and layer-2 networks, while underscoring the untapped potential for practical applications in the real world. He recognizes the increasing competition within the space as fewer individuals utilize onchain applications for their daily activities, prompting various networks to seek ways to distinguish themselves from the rest.
Hui underscores LightLink’s commitment to fostering enterprise adoption and its overarching goal of propelling the widespread integration of Web3 technologies on a global scale. He elaborates on how LightLink’s gasless transactions were meticulously crafted to entice Web2 users and enterprises, highlighting the challenges that businesses encounter when transitioning to Web3, including the intricate nature of the technology, associated risks, and the fluctuating costs of transactions. According to Hui, eliminating transaction costs and the need to anticipate such expenses is a pivotal step in delivering a user experience akin to Web2 platforms.
The conversation also delves into the significance of community building and developer engagement in the Web3 sphere. Hui divulges LightLink’s tactics for attracting developers and users, such as organizing hackathons and conducting airdrops. However, he concedes that executing airdrops has become increasingly challenging in 2024 as more users enter the scene and expectations rise. In light of the dynamic environment, Hui suggests that airdrops alone may not suffice to retain users on a specific network.
For those interested in delving deeper into these topics, the latest episode of Hashing It Out is available for streaming on popular platforms like Spotify, Apple Podcasts, and TuneIn. Additionally, Cointelegraph offers a comprehensive selection of insightful podcasts on the Cointelegraph Podcasts page.
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