Optimism Expands Its Blockchain Capacity by Integrating Layer-3 Applications
Summary:
Ethereum scaling solution provider, Optimism, plans to onboard layer-3 applications onto its blockchain, aiming to improve the capacity. These layer-3s will have access to the OP Stack, enabling them to share benefits with the Optimism Collective and the ecosystem of L3s. The introduction of "Plasma Mode" and custom gas tokens is designed to offer greater support to layer-3 developers. Despite concerns raised by some industry figures, such as Polygon's CEO, about the potential security risks, others like Ethereum's co-founder, see L3s as providing crucial customized functionality.
Scaling solution provider for Ethereum, Optimism, is planning to boost the capacity of its blockchain by integrating layer-3 applications into the OP Stack. On May 8, Optimism announced an invitation to layer-3s to join the Superchain, a spot where they could utilize the OP Stack for their developments and share benefits with the Optimism Collective. Serving as an engine for development on the Superchain, the OP Stack isn't confined to layer-2 chain deployers and developers of apps. It's also a tool for the layer-3 ecosystem.
A layer-2 chain network, referred to as the OP Chains assemble the Optimism Superchain, jointly availing open-source technology, security, and communication layers. Layer-3s can look forward to being eligible for retro funding, developer grant programs, and airdrops. Still, they might have restricted access to some features such as interoperability. Layer-3 protocols, which are built on layer-2s, house application-specific decentralized applications, offering improved solutions for customization, interoperability, costs, performance, and scaling.
[Image: Blockchain layers. Courtesy of CoinGecko]
For layer-3 developers, the OP Stack is introducing two key features — “Plasma Mode” and custom gas tokens. Custom gas tokens, an urgently needed feature currently in its last development phase, enable developers to use a layer-2 token as the native gas token for a layer-3 protocol. This step reduces onboarding costs since there's no need to conduct expensive transactions of gas tokens from L1 to L2 and then to L3. Operating an L3 as an alternative to the data availability layer can decrease the fixed overhead costs. The term data availability refers to the network participants' capacity to access and authenticate the data stored on the blockchain.
The objective is to render the Optimism Superchain more developer-friendly by offering layer-3 features and functionality. However, not everyone is convinced that layer-3 is the solution to Ethereum's scaling. CEO of Polygon, Marc Boiron, argued in April that layer-3 networks are unnecessary and might raise security risks for Ethereum by funneling value from the network. Boiron reaffirmed his stance on May 9, denoting that "L3s are worse than L2s" as they cannot settle back to Ethereum as quickly and frequently. However, Vitalik Buterin, Ethereum co-founder, expressed in late 2022 that L3s will play a different role by offering "customized functionality." OP Mainnet, also known as rollup-based Optimism, is the second-largest layer-2 network, with a locked total value of $6.76 billion, contributing to around an 18% market share according to L2beat.
Published At
5/9/2024 6:25:39 AM
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