Uniswap Labs, the corporate entity that builds products to use the decentralized finance (DeFi) protocol of the same name, announced on Thursday the launch of a so-called layer 2 blockchain. The new blockchain is called Unichain and, according to the company, will significantly speed up the time it takes to carry out transactions on its decentralized exchange.
"Unichain will initially have one-second block times, and will later be optimized to meet 200–250 milliseconds block times. This will feel like a near-instant transaction experience for the user," said Uniswap Labs in a statement.
