Metaverse Information Bureau News: Kroma L2 ends on 6/26. Get ready to migrate KRO tokens to Ethereum Mainnet! #Kroma #Ethereum #Layer2
Video explanation
[For Metaverse Beginners] Kroma's "Layer 2 Network" will end on June 6th! What should you do with your assets?
Hello everyone! I'm John, your guide to the Metaverse.
Recently, we have heard some interesting news from the world of metaverse and blockchain (technology that allows many computers to share and safely manage information), which we often hear about around us. A project called "Kroma" has launched a service called "Layer 2 Network".2024/6/26The company is calling on users to withdraw their assets or move their digital assets, known as "KRO tokens," to another location.
Some of you may be wondering, "What is Layer 2?", "What does it mean to move tokens?", or "It seems difficult..." But don't worry! In this article, we will explain in an easy-to-understand way what this news means and what you should do, even for beginners who don't yet understand much about metaverses and blockchains.
What exactly is a "Layer 2 network"?
First, let us explain a key term that is important to understand this news: "Layer 2 network."
When you watch videos or play online games on the Internet, a lot of data is exchanged. The same is true in the world of the metaverse and the blockchain that underpins it. One particularly famous network is Ethereum, a large public platform on which many digital currencies and various services run.
Because Ethereum is so popular, if many people use it at the same time, it can take a long time to process and the fees (costs for using the network) can become high. This can be compared to a very popular highway that becomes congested during morning and evening rush hours.
So the idea was "Layer 2 Network"is!
This is a so-called "layer 1" network that was created to ease congestion on the main network (such as Ethereum, which is called "Layer XNUMX").Bypass Road"Or"Expressway side road" By using this second road in addition to the main road,
- Transactions are processed much faster!
- Fees can be kept low!
Such benefits arise. Kroma is a project that provides one of these convenient layer 2 networks.
What does it mean that Kroma's Layer 2 network is being shut down?
Now, here is the crux of the news. This convenient Layer 2 network provided by Kroma is2024/6/26It was announced that the service would be terminated.
You may be worried, "What, the service is ending? So what will happen to the things I've been using up until now?"
However, this does not mean that the Kroma project itself will disappear completely. In fact, Kroma will close its current Layer 2 network in preparation for the transition to a new mechanism (the rules and the entire system) called the "Kroma Protocol."
To put it in perspective, it's similar to when a popular restaurant in town closes temporarily in order to reopen with a nicer interior and new menu items.
What should users of the Kroma network do?
If you are using Kroma's Layer 2 network, you will need to take some action. Kroma will notify you when the network is completely terminated.Before June 6We strongly urge you to take the following steps:
- Withdrawal of deposited assets
If you have any digital assets on the Kroma network (for example, assets that you have deposited for operational purposes in the form of staking), you will need to withdraw them to your own hands (such as a personal digital wallet). This is very important because if the network is shut down, it may be difficult to withdraw your assets. - KRO Token Migration to Ethereum Mainnet
"KRO token" is a special digital currency (you can think of it as a point) related to the Kroma network. If you have this, you need to move your KRO token to the larger underlying network called "Ethereum Mainnet".
The Ethereum Mainnet is like a bypass road for the Layer 2 that I mentioned earlier.Main Line Avenue" By moving the KRO token here, it is considered a measure to allow the token to continue to be used even after the new Kroma protocol is launched in the future.
These procedures involve your valuable assets. Be sure to check the latest information on Kroma's official website and official announcements for specific procedures, and try to take action as soon as possible.
Why end it and move to a new protocol?
The reason behind Kroma's decision to end its current Layer 2 network and move to the new "Kroma Protocol" is probably due to a strong desire to "provide better services."
Blockchain and metaverse technologies are evolving at an incredible speed every day. When new technologies emerge, it is natural to try to incorporate them to improve the system and provide a more comfortable and secure environment for users.
We will have to wait for future announcements to see what specific benefits the new Kroma protocol will bring, but generally speaking, with such a large-scale update,
- Further improve network processing speed
- Lower or more efficient fees
- New features have been added, allowing you to do more
- Security has been further strengthened, making it even safer to use.
Such improvements are often expected. Kroma is also trying to evolve into a more attractive platform for users.
A word from John
This news about Kroma makes us realize once again that the world of metaverse and blockchain is constantly moving and evolving. While new technologies and services are constantly being born, it is not uncommon for existing ones to change form or take new steps toward bigger goals.
Beginners, especially, may be confused by the speed of these changes and find the many technical terms difficult. However, if you look carefully at each piece of information, you will surely be able to understand it. The important thing is to take your time and get the right information from a reliable source.
We hope to continue providing you with useful, easy-to-understand information to help make your metaverse life richer and more enjoyable!
This article is based on the following original articles and is summarized from the author's perspective:
Kroma To Shut Down Layer 2 Network On June 26, Urges Users To Migrate KRO To Ethereum Mainnet