Ethereum’s handling fee breaks through the sky, and DeFi brother Uniswap plans to migrate to Layer 2

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc), Compilation: Overnight Porridge, released with authorization.

Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

Babbitt Information (ID: bitcoin8btc)

, Compilation: Overnight Porridge, released with authorization.

As the popularity of DeFi continues to increase, the gas price of Ethereum is also soaring. According to ethgasstation data, the current average gas price of the Ethereum network has risen to 275 Gwei, and the handling fee for an erc 20 token transaction is close to 100. Yuan, and complex transactions can even cost four figures.

The fanaticism of DeFi participants is astonishing, which makes many players in the classical coin circle exclaim that they can't afford it.

The popularity of Uniswap is currently the main reason for the soaring gas price of Ethereum.

Therefore, some DeFi enthusiasts asked Uniswap founder Hayden Adams:

“Is there a timeline for Uniswap V3 with Optimistic Rollup? Ever since I saw the Unipig demo, I fell in love with it, and now we need it more than ever.”

In response, Hayden Adams replied:

“We did not build our own Rollup chain, and hope that general smart contract Rollup projects like optimismPBC (our cooperative team of Unipig project) can be deployed to the Ethereum mainnet by the end of the year.

In my opinion, we need a generic Rollup that supports Solidity. Then, everything can be deployed to L2, not just Uniswap :)”

So what can this Unipig bring? We can take a look at its demo products:

According to the description of the scheme, Unipig adopting the Optimistic Rollup scheme can achieve no gas fee, and does not need to wait for a long time on the Ethereum main chain. In addition, its throughput has been expanded to 200 tx/s (equivalent to the main network 10 times optimization), seeing this, are you a little excited?

And its trading interface...is still a very eye-catching Uniswap fan.

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So what is Optimistic Rollup?

1. Optimistic Rollup (OR) is a layer 2 solution that does not run on the Ethereum base layer, but on top of it. This enables smart contracts to scale under the umbrella of Ethereum.

2. The name of Optimistic Rollup, literally translated into Chinese is "optimistic summary", which comes from the way the solution works, because the aggregator (aggregator) only publishes the minimum information required without proof (proof), which assumes Aggregators operate without fraud and only provide proof if fraud has occurred. And the word "aggregate" is used because transactions are submitted to the main chain in bundles, that is, they are aggregated.

3. A brief overview of the OR scheme

4. As with most Layer-2 solutions, funds transacted on Optimistic Rollup are stored in Ethereum’s smart contracts, where users deposit funds and aggregators sign up and submit fraud proofs. The general process for interacting with such solutions is as follows:

5. The user sends a deploy transaction of the smart contract to the aggregator off-chain;

6. The aggregator deploys the transaction locally and creates a new smart contract;

Aggregators compute new state roots (also known as Merkle roots);

Any user who sees an aggregator deploying an invalid state root can challenge that aggregator by publishing a valid state root along with the merkle proofs needed to prove it, slashing the aggregator for committing fraudulent behavior, and claiming those rewards;

After submitting an invalid block, and completing the fraud proof, the chain in layer 2 can roll back and recover from the previous non-fraudulent block.

Note 1: Anyone can become an aggregator, as long as they lock a bond fund in a smart contract;

Note 2: The preemption problem related to step 5 can be solved by various methods, such as sending by submarine;

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2. Optimistic Rollup User Experience

3. Users who use the Optimistic Rollup structure Dapp can enjoy economic abstraction (for example: free transactions, use ERC-20 payment, etc.), and quasi-instant transactions (completed in about 200ms, and the transaction can be completed in the blink of an eye).

4. The advantages of Optimistic Rollup are as follows:

The flexibility of generalized computing (Turing complete/EVM compatible), which means it is suitable for various DeFi applications;

1. Realize the expansion of 200-2000tps. In contrast, the Ethereum mainnet is currently only about a few tens of tps;

2. The data is all on the chain (no need to trust off-chain data providers);

3. Disadvantages of Optimistic Rollup:

Compared with L2 solutions such as Plasma and ZK Rollup, the scalability of OP is relatively limited;

Less secure than ZK Rollup;