Recently, a little-known project @Rise chain has sparked heated discussions in the market. There are two reasons: 1) Not long ago, a 3.2M seed round of financing was officially announced, and Vitalik's name was on the list of investors. Doesn't that mean he will not invest in Layer2? 2) It proposed the concept of GigaGas Layer2, believing that Gas measurement is better than TPS, and tried to promote a high-performance Layer2 narrative track? Next, let me talk about my opinion:
1) Whether Vitalik invests directly or donates in the form of donation is not the focus of discussion. Rise’s ability to obtain Vitalik’s support is directly related to the high-performance Layer2 direction he leads.
From MegaETH to GigaGas, the main product of Rise chain, Mega is a gas unit with a unit of one million, while Giga is even better and is directly measured in billions. Considering the ambiguous relationship between Vitalik and these two projects, it is obvious that high-performance Layer2 must have a place in Vitalik’s Layer2 vision;
2) The market is indeed almost indifferent to the high-performance narrative in terms of TPS. In addition to the fact that high-performance expectations cannot be realized at the application level, the core reason is that pure TPS measurement cannot reflect the true processing capacity of a chain.
Simply put: each EVM opcode consumes a specific gas cost, but the operation complexity corresponding to different transaction types, such as token transfers, contract swaps, NFT transfers, and revenue pool statistics, is completely different. If 200 transactions per second are ordinary transfers rather than complex smart contract interactions, then such a TPS number is meaningless and cannot reflect the true performance of a chain.
Therefore, RISE chain believes that the chain's TPS performance measurement should be pulled back to the Gas consumption bandwidth. The larger the upper limit of Gas consumption that can be processed per second, the stronger the chain's ability to handle various types of comprehensive transactions. The logic makes sense.
3) According to the RISE chain white paper, it can process up to 1 billion gas units per second, while the currently proud Base chain can only process 60 Megagas (60 million Gas) per second. It is preliminarily estimated that the RISE chain aims to improve the current Layer2 performance by more than 16 times, and its PEVM virtual machine based on the Reth client can support parallel transactions. According to this standard, its claim to bring Ethereum Layer2 into the next application era is also reasonable.
The question is, what is the relationship between performance processing capability and application landing? Taking the Ethereum main network as an example, a block is generated every 12 seconds, and if there are 200-300 transactions per block, its TPS is only about 15. Such gas bandwidth may be able to handle general transfer transactions and slightly more complex swap transactions, but it is very difficult to handle high-frequency transactions that require concurrency, such as games, payments, and other high-frequency applications.
Therefore, the reason why Layer2 is moving towards high performance is that Gas processing bandwidth is only superficial. Its ultimate goal is to introduce some high-frequency application scenarios that are convenient for Mass Adoption into the Ethereum ecosystem.
The end.
I have also seen many friends questioning the narrative of high performance. For example, there are already so many high-performance layer1s. Can the emergence of high-performance layer2 really prosper the application ecosystem? Regardless of the unknown result, the significance of high-performance layer2 for Ethereum is self-evident. At least it can weaken the competitive pressure of other high-performance alt-layer1s on Ethereum.
