Why L2 scaling may be more important than Eth2.0 consolidation?
L2 is probably the most important part of Ethereum scaling over the next 12-24 months. Even surpassing Eth2.0 mergers. So I wanted to do some research on how L2 has evolved and where they might go in the future.
source:
source:http://l2beat.info
source:
source:@PaoloRebuffo
Calldata compression may cause L2 Ethereum gas usage to drop in the short term. Gas usage will drop as Rollup publishes checkpoints to Ethereum L1. This is a good thing because it means that Rollup transactions get cheaper for the same number of transactions.
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For a rollup that does scale, I would expect L1 gas usage to be closer to 10-50% (or even higher). What does the Ethereum ecosystem need to get us there?
An important part is the cross-chain bridge. The bridge allows users to move tokens from L1 -> L2. The bridge protocol has seen tremendous growth in 2021. If the cross-chain bridge Hop Protocol launches tokens/airdrops, expect this to get bigger and we're seeing better bridge support coming from exchanges like Coinbase.
Dapps and infrastructure are also important. Many DeFi applications have already been deployed on L2. Expect to see more L2 deployments as bridges improve. Wallets are also important infrastructure. Metamask has supported L2 for a while, and other popular wallets such as Rainbow also support L2.
UX around bridges and multi-chain asset tracking should improve significantly in 2022. I think we're going to see most wallets racing to do bridge aggregation, just like the race to launch DEX aggregation has done in the past.
This post focuses primarily on Optimistic rollups, as they are the most widely available and accessible rollups today, but ZK rollups are also rapidly gaining traction. Note the two headline projects in this category, StarkWare and zksync.
The point is:
L2 is getting cheaper
Bridge UX and usability are improving
L2 scaling is more important than merging, making Ethereum accessible to everyday users (low fees)
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