We are quite familiar with supporting DeFi projects through Gitcoin Grant Rounds on the Ethereum network, but recently Gitcoin has launched a new Layer 2 called Public Goods Network to serve the above purpose. . So what is Public Goods Network? Join Weakhand to learn about Layer 2 Public Goods Network.
Articles related to the main content that people can refer to:
- What is Layer 2? Complete Guide to Layer 2 Solutions
- What is Superchain? Overview of Optimism’s OP Stack, OP-Chain & Superchain
- Instructions for Joining Public Goods Network Testnet (Gitcoin)
What is Public Goods Network?
Overview of Public Goods Network
Previously, when a project wanted to call for community support through Gitcoin, the main network used by Gitcoin was Ethereum. Using Layer 1 will attract a large number of community participants, but it also faces a drawback: the transaction fee is too high.
For that reason, Gitcoin has built and launched a Layer 2 called Public Goods Network (PGN) to solve the above problem but still reach the community easily.
Public Goods Network highlights
PGN uses OP Stack, a roll up SDK developed by Optimism and has been used by large parties such as Coinbase or Binance to build Layer 2. Therefore, it inherits many available advantages from Optimism such as:
- Low transaction fees and high transaction speed thanks to roll up technology.
- Good security is inherited from Ethereum.
- Good EVM compatibility thanks to which projects on Ethereum can be easily deployed to PGN.
PGN’s Development Roadmap
PGN launched its testnet on July 9, 2023.
Core Team
The team that built Public Goods Network is the same powerful team that built Gitcoin.
Backer
Behind PGN is the giant in the Gitcoin industry and other prominent names such as Octant, Protocol Guild, Hedgey, Hypercert,…
Project Information Channels
- Website: https://publicgoods.network/
- Telegram:
Summary
Above is the necessary information to understand what Public Goods Network is? Hopefully, through this article, Weakhand has brought knowledge to serve everyone’s research process.