As a seasoned crypto investor with a deep understanding of the Ethereum ecosystem, I’m excited about Optimism’s latest move to onboard layer-3 applications on their OP Stack. The potential benefits for developers and the Ethereum network as a whole are significant, especially when it comes to scaling and performance.
As a crypto investor, I’m excited to share that Optimism, a leading Ethereum scaling solution provider, is taking steps to enhance the throughput of its blockchain even more. They plan to bring layer-3 applications onto their OP Stack. In simpler terms, they’re planning to build on top of what they already have to handle even more transactions and improve overall network efficiency.
On May 8th, the Optimism team announced the invitation for layer-3 developers to join the Superchain, allowing them to construct upon the OP Stack and share earnings with the Optimism community.
The OP Stack, which serves as the open-source foundation for Superchain’s development, is not solely restricted to L2 chain deployers and app creators. Instead, it offers potential benefits to a broader community, including L3 entities.
The Optimism Superchain is a collection of interconnected layer-2 chains, referred to as OP Chains, that boast shared security mechanisms, communication channels, and open-source technological foundations.
At the Layer-3 level, users will be entitled to perks such as eligibility for past rewards, airdrops, and funding opportunities for developers. However, they might encounter restrictions when it comes to specific functions like interoperability.
At the third layer of networking, protocols are constructed upon the foundational layer-2 technologies. These protocols serve as a platform for developing application-focused, decentralized solutions. They offer improved capabilities in terms of scalability, performance, compatibility between different systems, tailored functionalities, and cost efficiency.
Two notable additions are being introduced to the OP Stack for L3 developers: the implementation of custom gas tokens, and the activation of “Plasma Mode.”
In the advanced stages of creation, custom gas tokens are a much sought-after innovation. With this solution, developers can opt for a layer-2 token to serve as the standard gas token within a layer-3 protocol. By adopting this approach, there is no requirement to execute pricey transactions to transfer gas tokens from layer 1 to layer 2 and subsequently to layer 3.
As a crypto investor, I would explain it this way: Plasma Mode is my preferred choice over the traditional data availability layer for reducing the constant expenses associated with operating a Layer 3 (L3) solution compared to a Layer 2 (L2) one. In simpler terms, data availability refers to the crucial ability for network members, including myself, to efficiently access and authenticate data saved on the blockchain.
Our objective is to simplify access for developers to the Optimism Superchain by providing them with advanced features and capabilities at the third layer.
While some hold the view that Ethereum‘s L3 (Layer 3) is the solution for addressing scaling issues, others remain skeptical. In the month of April, Polygon CEO Marc Boiron voiced his opposition to this perspective. He contended that layer-3 networks might not be essential and could potentially pose security threats to Ethereum by seizing value from the network.
On May 9, Boiron reiterated his stance claiming that “L3s are worse than L2s,” before adding:
“L2s allow you to settle back to Ethereum frequently and quickly. L3s do not. They always need to pass through their L2 overlords.”
As a crypto investor, I’ve kept a close eye on Ethereum and its development. In the last quarter of 2022, Vitalik Buterin, one of Ethereum’s co-founders, shared his insights on Layer 3 (L3) solutions. Instead of focusing on scaling Ethereum’s network like Layer 1 and Layer 2 solutions, he suggested that L3s will offer “unique functionalities tailored to individual use cases.”
According to L2beat, the second largest layer-2 Ethereum network, referred to as Rollup-based Optimism or OP Mainnet, boasts a total value locked amounting to $6.76 billion, securing approximately an 18% market share.
Read More
- JASMY PREDICTION. JASMY cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- WLD PREDICTION. WLD cryptocurrency
- Top gainers and losers
- CLV PREDICTION. CLV cryptocurrency
- DUEL PREDICTION. DUEL cryptocurrency
- LSK PREDICTION. LSK cryptocurrency
- LOKA PREDICTION. LOKA cryptocurrency
- ELK PREDICTION. ELK cryptocurrency
- SCOMP PREDICTION. SCOMP cryptocurrency
2024-05-09 06:39