How is the Layer 2 ecology of Ethereum developing now?

特邀专栏作者

2020-08-23 10:14

This article is about 7465 words, reading the full article takes about 11 minutes

The Ethereum Layer 2 scaling strategy has been "essentially" successful, and all that remains is refinement and deployment.

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The Ethereum Layer 2 scaling strategy has been "essentially" successful, and all that remains is refinement and deployment.

Editor's Note: This article comes fromBlock beats BlockBeats (ID: BlockBeats), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Block beats BlockBeats (ID: BlockBeats)

, reprinted by Odaily with authorization.

According to data from OKLink, since June, the transaction volume on the Ethereum chain has risen sharply, and the average daily transaction volume has remained at around 900,000. At the highest point, a single transfer needs more than 300 gwei, nearly 100 yuan. Transaction fees for Ethereum miners have exceeded their block rewards.

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On June 3, DeversiFi, a decentralized trading platform based on StarEx technology, was launched

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In this article, Rhythm BlockBeats will also integrate some projects and developments of the current Layer 2 track for readers and share them with you. Layer 2 projects mainly fall into the following categories: State Channel, Sidechain, Plasma, Optimistic Rollup, ZK Rollup, State Channels, Vadium.

Expansion Technology: State Channel (State Channel)

Celer Network

This is a technology inspired by BTC's Lightning Network, and Layer 2 projects based on state channels can conduct off-chain transactions and other state updates.

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Raiden Network creates a micropayment network by implementing a 1-to-1 channel between different nodes on the network. In May 2020, the Alderaan version has been launched on the Ethereum mainnet. As of August 18, 2020, there are 32 accounts and 62 channels on the network.

Liquidity Network

Token name: RDN

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Expansion technology: side chain

SKALE Network

The core idea of the side chain is to build a completely independent blockchain, which has its own validators and operators, can transfer assets to and from the main chain, and will selectively send snapshots of block headers to the main chain to prevent splitting. fork generated.

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Injective Protocol is a Layer 2 point-to-point decentralized derivatives protocol. The protocol can realize fast and secure perpetual swaps, futures, leverage and spot transactions on Ethereum, and integrates a verifiable delay function (VDF), which is a decentralized trading protocol to eliminate transaction cheating and bad transactions. Injective Protocol integrates Verifiable Delay Function (VDF), a decentralized transaction protocol that eliminates transaction cheating and bad transactions by avoiding order conflicts in the same block through Proof of Elapsed Time.

xDAI Stable Chain

Injective Protocol was led by Binance Labs incubator in the early stage. In July this year, a private placement round of financing was completed, and the specific amount was not disclosed. This round of investment institutions includes Pantera Capital, QCP Soteria, Axia8 Ventures, OK strategic cooperation investment institution K42, Krypton Capital, etc. Calvin Liu, Head of Compound Strategy, Charles Lu, CEO of Findora, Josh Felker, former DRW partner, and other individuals participated in the investment. In addition, the Injective Protocol test network will be officially opened for public testing soon, and the main network launch and pass will be ready in the third or fourth quarter of this year.

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Expansion technology: Plasma

Loom Network

Plasma is a technology that can realize "unsupervised" side chains. In other words, even if all verifiers on the "Plasma chain" conspire to do evil, the assets on the Plasma chain are safe and can be returned to the main chain.

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However, Loom Network has experienced negative news such as the departure of the founder and the unmanned operation of the community, and the future development still needs to be observed.

OMG Network

Token name: LOOM

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On June 1 this year, OMG Network announced the official release of the mainnet V1 beta version. According to the official statement, OMG Network has expanded the Ethereum network to thousands of TPS per second and reduced transaction transfer fees by 70%.

Matic Network

Token name: OMG

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The Optimism team is developing the Optimistic Virtual Machine (OVM), a virtual machine designed to support all Layer 2 protocols. Recently, a demo application was launched together with the Synthetix project. In this demo, the time consumption and gas fee were significantly reduced.

Unipig demo

Optimism is a new for-profit company founded in 2019 by former researchers of the Plasma Group, which is focused on implementing Optimistic Rollup, an Ethereum scaling solution. The new company raised $3.5 million in initial funding from Paradigm and IDEO.

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zkSync is an Ethereum Layer 2 solution developed by Matter Labs based on ZK Rollup technology, and it is currently in public testing on the Ethereum mainnet. It does not need to trust any third party. Ideally, the network throughput can be increased hundreds of times, and the single transaction fee can be reduced to 1 cent.

zkPorter

ZK Sync aims to bring Visa-level throughput of thousands of transactions per second to Ethereum, while keeping funds as secure as Layer 1 accounts and maintaining a high degree of censorship resistance. At present, zkSync has realized "scalable payment function", and will successively realize functions such as "smart contract deployment", "privacy" and "encryption anti-censorship".

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Layer 2+DEX, the future can be expected

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Although there are many types, each Layer 2 technology has its own advantages and disadvantages. Matter Labs (the development team of zkSync) synthesized the main Layer 2 solutions and simplified them into a table, trying to clearly express the trade-offs and pros and cons of these different Layer 2 technical paths:

Source: Matter Labs, translation: Blue Fox Notes

Reference article:

At present, the Layer 2 track is full of flowers, and the overall trend has begun. Vitalik also said that the initial deployment of Ethereum's Layer 2 expansion solution is basically successful, and the rest is to improve.

《The State of Ethereum L2》— Mohamed Fouda

《Overview of Layer 2 approaches: Plasma, State Channels, Side Chains, Roll Ups》-Alexander Skidanov

Taking advantage of the popularity of DeFi, many Layer 2 projects are actively cooperating with various DEXs and projects. After all, compared to directly migrating projects to other public chains due to congestion on the Ethereum chain, it seems more reasonable to choose to cooperate with Layer 2 scalability solutions to reduce transaction costs and improve user experience. With the DEX supported by the Layer 2 project, it may be possible to solve the pain points of slow transaction confirmation and high handling fees. Whether the combination of Layer 2+DEX can invade the market of centralized exchanges is worth looking forward to.

In the next period of time, we should see various Layer 2 projects competing for splendor. It is not difficult to speculate that a "super racer" will eventually be born on this track.

Reference article:

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