Share this page!

polynya Profile picture
Twitter logo
Jan 19 • 4 tweets • 1 min read
Casual 30% few days ago, another 30% now; 50% with Arbitrum Nitro. Rollups are advancing rapidly. Over the course of 2022, rollups will mature to a point that'll make monolithic L1s look like DINOsaurs. Enjoy the ride while it lasts, the parks won't be endorsed.
Final form won't happen till 2023/24 and beyond. It's just that monolithic L1s have set such a bottom barrel low bar it'll be easy for rollups to flip that.

Keep building, rollup teams, you're doing awesome work! Reason shall prevail.
Timeless
That said, my gracious thanks to monolithic L1s for onboarding future rollup users! And especially the VCs and speculators that are subsidizing it.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with polynya

polynya Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @epolynya

polynya Profile picture
Jan 27
Seeing FUD that "rollups only scale compute". Not true, rollups and DAS scale compute, storage IOPS, storage size and bandwidth - the whole deal.

Compute: this one is established and undisputed. How much depends on the rollup's design, but let's say ~100x vs L1s.

(contd.)
The greatest trick rollups pull off is actually data:

- Converting complex state (SSD) to sequential DATA (HDD).

- Compressing this sequential data heavily.

As an example, the baseline transaction on L1s is ~128 bytes, and complex DeFi transactions can be hundreds of bytes.
Meanwhile, dYdX transactions are only 5.35 bytes, and the baseline is 16 bytes. Furthermore, instead of XXX bytes on expensive SSDs, you only need X or XX bytes on very cheap HDDs. Altogether, this is a 100x to 1,000x boost in data efficiency.

But wait! There's data sharding!
Read 7 tweets
polynya Profile picture
Jan 20
With recursive rollups / L3s the blockchain industry moves one step closer to the endgame. But I see too few talking about the elephant in the room:

Moving StarkEx to StarkNet would make StarkNet arguably the biggest smart contract platform after Ethereum, > alt-L1s.

(contd)
Today, StarkEx:

1) Immutable X mints and trades more NFTs than any other chain. In terms of $ volumes, OpenSea on Ethereum is still dominant, of course.

2) dYdX has the highest volumes of any dapp, with the second highest protocol revenues of any dapp after OpenSea.
Sorare raised $700M last year with >250,000 active users and growing fast, DeversiFi is an awesome spot DEX, and we have new players like Connext and @socol_io (if "SimpDAOs" are the next big thing, it'll all happen here!) joining the StarkEx fray.
Read 5 tweets
polynya Profile picture
Jan 9
An opportune reminder for why I think it'll take till 2023 for smart contract rollups to be a mature endgame solution for the blockchain industry, and what remains to be implemented:

- Decentralized contract upgradeability
- Decentralized sequencing & proving

(contd.)
- Data compression (applies to ORs, most ZKRs have this)
- Battle-testing novel ZK primitives
- Scalable DA layers
- Applications optimized for rollups
- ASIC provers (ZKRs)
- Recursive proofs
- General battle-testing, exiting beta
- State management (eg. expiry)

(contd.)
Most importantly, infrastructure for end users to run light clients (see: Durin for Ethereum), or even stateless rollup full nodes; have easy access to L1 transaction submissions or escape mechanisms, for truly equivalent security to L1.

All of this will take time.
Read 7 tweets
polynya Profile picture
Jan 8
This is the best argument against full modularity yet: reddit.com/r/ethereum/com…

@aliatiia_ has also made some of these arguments before.

Justin Drake argues for what I have previously called a "modular L1" as the ideal architecture in favour of a "fully modular" system.
What's a "modular L1?" - implementing rollups and data sharding, but all of these are enshrined within one protocol with one consensus. So, the rollups are all part of the L1. (I've previously called this "canonical rollups")

Thus, the ideal architecture is actually starting with the most secure & liquid L1, build rollups and enshrine them into the L1, alongside a scalable DA layer. Alternatively, build a new modular L1 and see if it can gain security before the incumbent builds rollups & data shards.
Read 7 tweets
polynya Profile picture
Jan 5
The Polygon PoS & Solana situations are more interesting data points in the transaction quality trilemma discussion.

By optimizing for low fees & censorship resistance, they suffer from spam and very low-quality transactions.

polynya.medium.com/transaction-qu…
In addition to network instability, they lead to state bloat and socializing transactions that may be parasitic to the ecosystems.

I had often conjectured the min transaction fee should be in the $0.01 to $0.10 range. But Polygon PoS's gas fees are now ~500 gwei...
...yet the low quality transactions have kept coming even though AMM swaps have now actually exceeded $0.10. Of course, this will eventually stop, but I think this is important evidence that $0.01 to $0.10 is actually still too low long term. Perhaps $0.50 is a better target?
Read 7 tweets
polynya Profile picture
Jan 3
So, here's a tangential and embarrassing rant I always wanted to make! My blog and tweets are never about financial stuff, but I do morbidly indulge in it on the Into the Cryptoverse telegram channel. My thoughts on short-term markets are often polar opposite to my thoughts on..
...long-term tech, which is what my blogs & twitter focus on.

Into the Cryptoverse users will know I was high on ADA through 2020 till September 2021, and still believe it's due one last pump. I was bullish on SOL all thru 2021, and actually was surprised it took so long.
All the while, I was highly critical of both Cardano and Solana, despite their tokens being my top picks. I know this can be confusing, but here's my general philosophy:

Bull markets have always been ass backwards when it comes to valuing technology.
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @epolynya has new unrolls!

Check out other threads from @epolynya!

Read all threads by @epolynya

:(