Thread by @0x1Mert

1/This is one of the first thread series that I will share about Hot/Interesting/Promising projects in the space.Since Metis is quite a hot one, It will be the first one. I try to pack all the information you need to understand what is Metis and why we need it. 👇
$Metis

2/First of all what is Metis?

Metis is a Layer 2 Rollup and it is trying to solve Ethereum’s high gas fee problem.

Okay well this needs some explanation.

3/What is layer 2 and Why do we need it?

Layer 2 is a collective term for solutions designed to help scale your application by handling transactions off the Ethereum Mainnet (layer 1). Ethereum is very expensive to use when there is high demand. 👇

4/And this is where Layer 2 solutions come into play. They are trying to solve the congestion problem of ETH with reduced fees yet with minimal compromises on security.

And this is done via rollups. 👇

5/In a very nutshell Rollups take the computation part of transactions away from the base (or L1) layer but relies on L1 for security. As a result, rollups can execute more transactions per second while still retaining the consensus and security model of Ethereum.👇

6/There are two kinds of rollups with different security measures:

First one is Optimistic rollups and they assume transactions are valid by default and only runs computation, via a fraud proof, in the act of a challenge.

Stay with me, it will be clear at the end. 👇

7/Second one is Zero-knowledge rollups and these runs computation off-chain and submits a validity proof to the main-chain.

I hear you saying, dude give me eli5 exp. Okay I will give an example to you that I saw from @TobbyKitty 👇

8/Imagine our well known couple Alice and Bob.

Bob holds a Rubik's cube, turn his back and solve the cube. Alice asks him how he solved it. Bob replies how he did it ie. He explains the steps.

This is the optimistic rollup.👇

9/ Again, Bob solves the cube and the Alice asks how he did it, this time Bob does not tell how he solved it but he solves the problem again and Alice does not know how Bob solved the cube but she believes that Bob knows how to solve the cube.

This is zkRollup.👇

10/Each of them has it’s own pros and cons, without going into too much technical we can say that  ZK rollups do not offer, at least at this point in time, a general solution for all smart contracts. Therefore they are application specific unlike optimistic rollups.👇

11/Okay I hear you saying, you speak too much tell me what is Metis. Metis is an optimistic rollup. It is a fork of Optimism that aims to improve upon its currently more popular competitors.👇

12/ $Metis seeks to offer the standard benefits of optimistic rollups like low fees (<$1), speed (less than one second), and Ethereum-level economic security. But it differentiates its platform by providing native data storage...... 👇

13/...., faster withdrawals to the Ethereum layer 1 main chain, and improved usability for DApp providers. 👇

14/ Metis uses a fork of Optimism’s Optimism Virtual Machine (OVM) that it calls the Metis Virtual Machine (MVM). The MVM mirrors the OVM in function and code execution.👇

15/ I think this is quite technical enough,If you want to learn more about the differences between Metis and other optimistic rollups, I highly encourage you to read the following report from Messari.
messari.io/article/optimi…