3/ if it's as simple as "copy-paste" for apps, i believe we'll see many widely used apps establish instances on Optimism in the near-term
this would effectively create a parallel, very high throughput Ethereum ecosystem
this may take real pressure off of L1 tx demand too
4/ rollup L2s like Optimism are mathematically secured by Ethereum L1, and inherit its security
they regularly commit tx's to L1 for their security, and any user can "challenge" the rollup operator if fraud takes place
5/ you can read an accessible primer here around how rollups work- including both Optimistic Rollups and zk-Rollups (and compare to other L2 solutions) from @BanklessHQ
they've been building mostly in stealth for the past couple of years, but i believe we'll see it soon™
Immutable X is being co-developed by Immutable Games (creator of Gods Unchained) & @StarkWareLtd
9/ the #NFT use case has EXPLODED on Ethereum in the past few months. we also see this now spilling over to other chains like Flow, offering higher throughput / abstracted use for users
Immutable X will change the game & bring this kind of functionality natively to Ethereum
10/ soon, apps/games can tokenize NFTs (like ERC-721s) directly on Immutable X with low-to-no gas fees, and the ability to process thousands of tx's per second!
and a special property of zk-rollups vs optimistic rollups is that users can withdraw to L1 at any time, instantly
11/ the drawback for the near-term is that Immutable X will have limited functionality on-chain for those NFTs,
but it will allow for tokenization, transfers, and support a robust marketplace
that's really all many NFT apps need for on-chain, as game process is often off-chain
12/ in the future, @StarkWareLtd will rollout an upgrade to its zk-rollups (including Immutable X) known as "Cairo"
Cairo will eventually bring Turing Complete smart contracts to these zk-rollups
this will eventually mean Immutable X could have full smart contract support
but i think the addition of @optimismPBC + @Immutable X, with new functionality and exchange integration, will be a watershed moment for #Ethereum adoption
get ready 🚀
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1/ we have new participants entering #Ethereum, first from #DeFi, but increasingly from #NFTs
many highlight concerns on energy consumption from Proof of Work blockchains like #Ethereum & #Bitcoin
let's talk about it, and how we'll move past it in #Ethereum Proof of Stake 🌳👇
2/ first, it takes a tremendous amount of energy to secure a Proof of Work (PoW) blockchain
PoW blockchains are secured by computers (mostly graphics cards and specialized hardware known as "ASICS") from "miners," solving a work-intensive math problem for every block produced
3/ the total "miner" contribution of this energy/computational power is known as "hashrate"
the "winning" miner who solves each new math problem first gets to produce the next block, and receives a block reward (in ETH, BTC, etc.) and any fees paid by users within that block
1/ yes, the celeb #NFT thing will be a huge bubble, and at some point, people may start to *hate* new releases and become jaded by them
the near-term benefit for the adoption of #Ethereum is many of their fans may be compelled to buy $ETH and use Ethereum for the first time ever
2/ but some celebs won't be able to resist the low-effort cash grab
some firms are making it easy for them- doing all of the work for them and just sending them a check for their licensed work
would you buy a SouljaBoy lunch box? no?
but some would buy the NFT apparently
3/ this will be free money for these folks while it lasts, and in truth, it could last for a while
but keep in mind that if the creator is too prolific with low quality work, then expect all pieces from that creator to plummet in value one day (esp if B-list celeb)
DO NOT FOMO INTO NFTS WITH MONEY YOU CANNOT AFFORD TO LOSE
buy to collect for the long-term. imo, some of these will become priceless pieces of history, and most of you will sell them way too early b/c you're overextended