In the latest installment of Cointelegraph’s podcast series, Hashing it Out, host Elisha Owusu Akyaw sits down with Roy Hui, the co-founder and CEO of LightLink, a layer-2 blockchain platform. Hui dives into the current state of the blockchain industry, delving into the challenges faced by layer-2 solutions and discussing LightLink’s innovative approach to overcoming these obstacles.
Hui paints a picture of the current blockchain technology landscape, highlighting the abundance of layer-1 and layer-2 networks while underscoring the vast potential for real-world applications that remains largely untapped. He acknowledges the growing competition within the space, as fewer individuals are utilizing onchain applications in their daily lives, prompting networks to seek out ways to set themselves apart from the crowd.
Central to LightLink’s strategy is a focus on enterprise adoption and a mission to drive the global uptake of Web3 technologies. Hui elaborates on the platform’s gasless transactions, designed to appeal to Web2 users and businesses alike. He points out the hurdles faced by enterprises looking to embrace Web3, including the complexity of the technology, associated risks, and the fluctuating costs of transactions. By eliminating transaction fees and the need to anticipate these costs, Hui believes LightLink can create a user experience akin to that of Web2 platforms.
The conversation also delves into the significance of community building and developer engagement in the Web3 sphere. Hui shares LightLink’s initiatives for attracting developers and users, such as hackathons and airdrops. However, he concedes that conducting airdrops has become increasingly challenging in 2024, given the growing number of users coming online and rising expectations. With the fast-paced nature of the industry, Hui suggests that airdrops alone may not suffice to retain users on a specific network.
For more insights, tune in to the latest episode of Hashing It Out on popular platforms like Spotify, Apple Podcasts, or TuneIn. Discover a wealth of informative podcasts on the Cointelegraph Podcasts page.
Please note that this article serves as general information and should not be construed as legal or investment advice. The opinions expressed here are solely those of the author and do not necessarily represent the views of Cointelegraph.