Get ready to witness the ultimate scalability revolution with the evolution of Layer 2 solutions, including L3s, super-chains, app-chains, and more! ๐
Here's everything you need to know:
Scalability issues have met their match with the development of Layer 2 solutions. However, it's important to note that Layer 2 alone doesn't entirely solve the problem, as seen during the congested Arbitrum airdrop.
But fear not, our favorite L2 projects are stepping up to the challenge and proposing groundbreaking solutions. Optimism, Polygon, Arbitrum, and zkSync are all working tirelessly to accommodate billions of users. Let's dive into each solution and explore their differences.
Optimism has established itself as a leader in Layer 2, boasting over $1 billion TVL. In October 2022, they introduced the OP stack, a modular open-source blueprint that serves as the foundation for building other L2 blockchains.
The OP stack introduces the concept of Superchains, a unified set of L2 blockchains that share the same technology and security. It's not L3, but rather a collaboration of multiple L2 chains!
So, what advantages does this solution bring?
1. Extensibility: The OP stack is modular and open-source, allowing developers to freely use it for their applications. It's highly adaptable and can easily integrate with Ethereum's EIPs.
2. Simplicity: Optimism understands that complex code hampers scalability, so they strive to keep things simple.
To attract experienced Ethereum developers, Optimism built the OP stack on the same architecture and standards. Transitioning from Ethereum to the OP stack is a breeze.
On June 6th, 2023, Optimism updated its mainnet to integrate the OP stack developments. The results are remarkable:
- 77% lower fees
- Around 70% reduction in deposit times
- Improved proof modularity
- Enhanced node performance
The added value of the OP stack is undeniable. Optimism has plans to become a super-chain itself in the near future, joining several other prominent names. The more super-chains, the stronger the ecosystem becomes, allowing seamless interaction between them.
Arbitrum
With over $3 billion TVL, stands as the largest L2 solution. Its scalability solution differs from that of Optimism.
Arbitrum has developed 4 products, but let's focus on Arbitrum Orbit, their proposed scalability solution.
Arbitrum Orbit is a development framework for creating and deploying L3s on top of the Arbitrum mainnet. L3s, or app chains, host smart contracts that support specific decentralized applications. These app chains leverage the security of the L2, which, in turn, uses the security of L1 (Ethereum). Think of them as the rollup for an L2.
The exciting part is that anyone can deploy an L3 on top of Arbitrum. It's a permissionless process that doesn't require formal approvals.
With Orbit, Arbitrum aims to revolutionize itself by becoming a settlement layer comparable to Ethereum. This enhances the intrinsic worth of its core chain and fortifies the long-term scalability of the broader Arbitrum ecosystem.
zkSync
A younger solution with a TVL of over $200 million, takes a different approach compared to Arbitrum and Optimism. Instead of relying on rollups, zkSync utilizes zero-knowledge proofs.
While zkSync is not yet fully operational, its architecture aims to incorporate a network of hyperchains anchored to a central basechain. This unique approach adds another exciting dimension to the scalability solutions in the blockchain space.
zkSync envisions a vast ecosystem of trustless and customizable linked blockchains known as Hyperchains, representing their vision for L3 scalability.
At the core of zkSync's vision is the construction of a Basechain (zkSync Era) that serves as the foundation for building Hyperchains. These Hyperchains inherit the security of the Basechain, ensuring a robust and reliable infrastructure.
This solution aligns closely with Arbitrum Orbit, further emphasizing the importance of scalable L3 solutions in the blockchain space.
Among the four solutions, Polygon holds the distinction of being the oldest. Currently, it ranks as the 6th largest blockchain in terms of TVL, just ahead of Optimism ($1.25B).
Polygon has developed four main products that contribute to its success:
1. Polygon PoS sidechain: This flagship product handles an impressive 2-3 million transactions daily, showcasing its reliability and efficiency.
2. Supernets: Polygon's solution for developing app-chains, providing developers with the tools they need to create innovative decentralized applications.
3. zkEVM: Polygon's EVM-equivalent ZK-rollup solution, which launched its mainnet in late March and has already gained significant traction with over 177,000 unique addresses and 20,000-50,000 daily transactions.
4. Polygon 2.0: The latest addition to Polygon's lineup, Polygon 2.0 aims to unify all their products under one umbrella. It leverages ZK technology to power a conglomerate of L2 chains, incorporating a unique cross-chain coordination protocol.
While examining these four solutions, it's challenging to determine which one holds the most promise at this stage. However, Optimism stands out from the rest.
Arbitrum, zkSync, and Polygon propose comparable L3 scalability solutions, but Optimism takes a different approach with its Superchain solution. By aligning all blockchains on the same line, Optimism offers a distinct and innovative approach to scalability.
In the quest for Ethereum-related scalability solutions, these four projects have emerged as leaders, each with its own unique features and strengths. Personally, I have faith in the zero-knowledge solutions, although Optimism continues to impress with its groundbreaking developments.
The future of blockchain is bright, with Optimism, Polygon, Arbitrum, and zkSync leading the way toward ultimate scalability. Stay tuned for more groundbreaking developments!
