MetisDAO, a company that is working to create solutions in the Ethereum space, has announced the details of its Rollup architecture, as well as the upcoming launch of its testnet. While Ethereum and DeFi have become very popular, there are a number of issues with the world’s second most popular blockchain as measured by market capitalization.
When Ethereum launched, it was seen as a new platform that could support decentralization at many levels. While this may have been the case in its early days, today, Ethereum is too expensive and too slow for many applications.
The answer that many have proposed is L2 solutions using Rollups, which is one of the things that Metis is working on. By moving much of the data handling to an L2 platform, the main Ethereum blockchain is able to move faster. In addition, this architecture also cuts costs, as the L2 platform can be much cheaper to operate.
Metis is Working on the Future of Ethereum
Metis opted to develop an optimized version of Optimistic Rollups for its Rollup system, and this will let users and developers access a host of new tools. By using this system, new dApps and decentralized applications can be created easily.
In addition, this Rollup architecture will allow a wide range of people and companies to use the Decentralized Autonomous Company (DAC) framework to create online commercial groups that aren’t bound by national borders.
Because all of these tools exist on an L2 platform, the current drawbacks associated with Ethereum, like high costs, slow speeds, and a lack of scalability will be mitigated. While the project’s mainnet is still in development, developers and other interested parties can participate in Metis’ Alpha Testnet.
Ethereum is a victim of its own success. In the beginning, the blockchain adopted a Proof-of-Work (PoW) model that was very popular in the early days of cryptocurrency. Using a PoW model means that if the blockchain becomes popular, higher transaction fees and slower…