The Local State Layer refers to a system that stores off-chain data while ensuring it remains accessible and verifiable by users and applications. This layer acts as a bridge between the blockchain and client applications, allowing for improved efficiency by reducing the load on the main chain.Using a Local State Layer, applications can manage data locally without compromising on security. It allows for faster transactions and data retrieval since not every operation needs to be recorded on the blockchain. This enhances user experience, particularly in applications requiring high-speed interactions.Moreover, the Local State Layer can enable better scaling solutions. By keeping less critical data off-chain and only storing essential information or final states on-chain, this approach helps minimize congestion and lowers transaction costs.Overall, the Local State Layer serves as an effective way to balance the strengths of decentralized systems with the performance needs of modern applications.

UK’s FCA to Allow Retail Investors Limited Access to Crypto ETNs
The UK’s Financial Conduct Authority (FCA) will permit retail investors to access certain crypto asset-backed exchange-traded notes (cETNs) for the