An Average User’s First Impression.
With so much competition in the race towards blockchain adoption and the recent rise of Ethereum driven by ETF speculation, and first-mover advantage, it may be time to revisit the cliché, “If you can’t beat them, join them.” However, this doesn’t mean that we are giving up on the potential of Tezos technology. In fact, the future for Tezos and its community has never looked more promising.
What if Tezos technology could be introduced to Ethereum users in a different way? What if there could be a Layer 2 that utilizes both Tezos tech and Ethereum-compatible tools? What if said Layer-2 had a protocol-level bridge between ecosystems that cost less than a penny to use? How cool would it be if that network used tez as its token?
That’s Etherlink, and that’s just a glimpse of what makes it awesome.
First Impressions and Potential Use-Cases
As of now, it may be hard for the average user to see the point because, for those already using Tezos, the use cases are not immediately obvious. I am an average user, but I have friends who are developers and can attest to a noticeable rise in their morale. Morale within development is the first step towards new products, and new products to play with are what raise the morale of the community. With the added ease of bridging between ecosystems, our broader blockchain developer and user community has a greater chance to scale together.
Here is a quote from developer and friend Scuni.tez:
“I find Etherlink particularly exciting because it allows me to combine the robustness of Tezos with EVM compatibility, making the development and deployment of smart contracts and DApps much simpler. Thanks to this compatibility, I can use all the familiar tools of the Ethereum ecosystem while enjoying the unique advantages of Tezos.”
Devs Did Something…
For developers building in Web3, the largest arsenal of open-source tools available have been built to be “EVM Compatible”. EVM stands for Ethereum Virtual Machine and is the foundation for many of the tools developers use to build smart contracts. This makes it exponentially easier to develop products by simply choosing to do so on Ethereum-based networks. In other words, for someone to build on a non-EVM compatible blockchain like Tezos, they essentially have to start from scratch with a much smaller pool of resources to build upon, until now.
In this very early stage of Etherlink’s Beta Mainnet, you can already see developers experimenting by creating tokens, NFTs, and even farms, seemingly whipping up user interfaces in a matter of hours. That is the effect of having EVM-compatible tools. There is also a testnet, referred to by the Etherlink team as “the real playground,” where builders and users can generate test tokens and experiment with various functionalities of the network at no financial risk. In fact, most serious developments happen on testnet first.
An example of a testnet development can be found at degenerator.wtf, which is a DEX (Decentralized Exchange) being built for Etherlink meme coins. If you are now wondering, a meme coin is basically a token created based on a popular meme, that is purely traded for speculation. It is a strange but expected part of blockchain culture, for now. Some meme coins do build strong communities and create fun atmospheres for blockchain users, however, as well as the development of yield farms and other tech-related DeFi tools.
Things You Can Do To Experiment With Etherlink
The first and most intuitive experience available to Tezos users is to try the bridge. With gas fees of less than a penny, users can test with as little as .001 tez, bridging from traditional Tezos wallets over to the Etherlink network on MetaMask. The user interface guides you every step of the way. Right now it is recommended to only utilize the official Etherlink Bridge.
For those familiar with navigating block explorers, the Etherlink Blockscout is an amazing starting point as well, providing a direct look into the new Layer 2’s transaction activity, token creations, charts, stats, API, and more. Here, you can witness live examples of the near-nothing gas fees users are paying in tez as they experiment with “The Best of Both Worlds.” You will see live trades happening on both testnet and mainnet. As many independent developers have already launched products and trading platforms. Users are encouraged to play with test net products first, and always keep an eye on Tezos Commons publications and posts, to find and learn about the most vetted new DApps in the Tezos and Etherlink Ecosystem.
You can follow the main Etherlink account on X (Twitter) to stay up to speed on the regular developments, and get involved with the community in the Etherlink Discord. Trying various testnet functionalities is encouraged. The discord has a fun AI chatbot that is well educated and trained as a moderator. Users can be found experimenting with this AI while also learning accurate info about all things Etherlink. While navigating Etherlink, users will quickly realize the improved speed, lower fees, and a general sense of “Tezos fixed ETH”.
Remember, this is not financial advice, and users should always do your own research!
Nothing Beats A Hands On Experience
Etherlink represents an exciting blend of Tezos and Ethereum technologies, offering a bridge that can potentially revolutionize the user and developer experience. As we continue to explore and experiment with this innovative Layer 2 solution, the possibilities for growth and collaboration within the blockchain ecosystem seem limitless. Embrace the best of both worlds and see where Etherlink can take you.
Etherlink: The Best Of Both Worlds was originally published in Tezos Commons on Medium, where people are continuing the conversation by highlighting and responding to this story.
