With Ethereum gas fees still a real problem for traders, CMCalexandria and cryptoverno takes a look at some of the layer2 solutions that are hoping to solve that problem 👇 Polygon arbitrum optimismPBC loopringorg StarkWareLtd
which has been in development and pursued by separate entities since at least 2017.some tradeoffs to Ethereum on-chain that currently preventHowever, if low fees and fast transactions are really important to you, you need to accept the fact that there will be extra steps you need to take.
Rollups are not plug-and-play solutions. They are slightly more technical and have more friction due to the requirement of bridging from L1 to L2 and vice versa. Thankfully, rollup projects have made several breakthroughs in the last year that have significantly improved their user experience, efficiency and other features.Join us in showcasing the cryptocurrency revolution, one newsletter at a time.
outsource the execution of transactions outside the main blockchain, but retain some data per transactionThis allows transactions to leverage the same security model as the Ethereum main network while being processed in a separate layer, preventing network congestion and enabling faster confirmation times.Optimistic Rollupscale Ethereum better by a factor of 10-100x.. This stands in contrast to zero-knowledge rollups, which are mostly capable of running simple transactions.
drastically reduces the data size of transactions, which in turn lowers gas costs and shortens confirmation times. Unlike optimistic rollups, ZK-rollups do not require fraud challenges since the validity proofs are already verified, allowing fast withdrawal.
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