🚨 Unity in Sight? 🤑
In a shocking turn of events, the mighty leaders of Ethereum’s layer 2s have collectively declared their willingness to sacrifice a portion of their vast fortunes for the greater good. *dramatic music plays* They propose embracing “based” and “native” rollups, which might – just might – bolster security while unifying the fragmented network. 🤝
Enter Jesse Pollak, Base’s fearless leader, who proclaimed on a Jan. 25 call with Ethereum’s founders and developers: “Based rollups are a flexible and powerful tool… *yawns*…excuse me, a tool that will make Base more connected to Ethereum and increase security guarantees.” 💤
Ben Jones, Optimism Foundation Director, chimed in with the enthusiasm of a revolutionary: “I want to just reemphasize we are here to support this, it is war time.” 🕊️👊
“I want to just reemphasize we are here to support this, it is war time.”
Meanwhile, in the world of layer 2 networks like Arbitrum, Optimism, and Base, massive fees have been accumulated by utilizing speedy, centralized sequencers – think of it as a game of “Transaction Processing Frenzy” 🎮. Unification, however, took a backseat. 🚗
Based rollups, brainchild of Ethereum core developer Justin Drake (March 2023), aim to restore the block-building process to the base layer, thereby decentralizing the network. All Ethereum validators will now get to participate in the block-building party 🎉, instead of a single sequencer calling the shots.
Native rollups, on the other hand, promise to enhance transaction execution on the base layer, making the network more composable (read: more Legos to play with 🧮).
Here’s the kicker: by adopting these rollups, layer 2s will be forgoing a substantial chunk of Maximum Extractable Value (MEV) revenue – essentially, the extra profit from rearranging transactions like a blockchain-based game of Tetris 🤹♂️. Arbitrum and Base have raked in $210 million and $96.2 million, respectively, from their centralized sequencers, according to Dune Analytics.
However, this noble sacrifice might just benefit Ethereum’s base layer and – dare we dream? – positively impact Ether’s (ETH) price 📈. Decentralized sequencing, though, means transactions will now take a leisurely 12 seconds to confirm, rather than the lightning-fast 1 second on many layer 2s ⏱️.
In related news, several Ethereum layer 2 executives are enthusiastically backing the implementation of “FABRIC” – an infrastructure designed to support based rollups. Because who doesn’t love a good acronym? 🤷♂️
Daniel Wang, Taiko’s CEO, boldly declared his firm’s willingness to adopt the FABRIC standard to “conquer” Ethereum’s interoperability woes: “We’ve been waiting for the FABRIC standards so we can work together and provide a full solution.” 🚀
And, fun fact: Taiko was the pioneer in implementing based rollups on Ethereum, as noted by Justin Drake in June 🎉.
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2025-01-27 04:47