Thread by @FOMO_insights

Thread : Exploring Optimism's Layer 2 Scaling Solution and the Ambitious Superchain Plan

1. Overview of Optimism
2. Bedrock
3. OP-Stack
4. What is Superchain?

#FOMO

1. Overview of Optimism

- #Optimism is a L2 scaling solution on #Ethereum aimed at reducing gas fees and increasing transaction speed while maintaining security from the Ethereum main chain.

- Since its launch, Optimism has saved users billions of dollars in transaction fees.

2. Bedrock

- #Bedrock is a technical upgrade to Optimism that makes it more compatible with Ethereum and reduces the amount of code in the OP Stack. The changes include:
+ The Bedrock team will implement it based on EVM-Equivalence (similar to EVM) instead of EVM-compatible.

+ Bedrock will have a fixed block time of 2 seconds, and L2 gas prices will be updated via the EIP-1559 mechanism.
+ Bedrock will provide a foundation for ERC-20 and ERC-721 token bridges, helping to attract more liquidity and expand NFT-related transaction activity.

- They froze the update of the Bedrock testnet on April 5th and announced a two-week test period. Recently, Optimism Labs also announced that the mainnet is very close, but a specific date has not been determined yet.

https://twitter.com/OPLabsPBC/status/1650981755896078339?s=20

- Bedrock brings benefits to Optimism, including:
+ Lower gas fees
+ Increased node performance
+ Reduced time to deposit from Layer 1 to Optimism.

3. OP-Stack

- Recently, OP launched a tool called OP-Stack, which is similar to the Cosmos SDK. It is a tool that helps developers save time and costs to create a Layer 2 solution and has the ability to adjust features in the source code through the "OP-Stack Hack" feature.

- With OP-Stack, different chains can easily be compatible with the tool, supporting block production and communication between chains.

- This also opens up a new ambition for a Super Chain that Optimism has previously mentioned when referring to OP-Stack.

Additionally, Optimism has mentioned that the next step after a successful Bedrock upgrade is to move forward with the development of the Super Chain.

https://twitter.com/optimismFND/status/1582132303199088641?s=20

4. What is Superchain?

- Superchain is a single chain that includes various chains that use Optimism's OP-Stack toolset to build layer 2. According to Optimism, the goal of Superchain is not just to interchain, but also to inter-Dapps.

- In addition, the Layers that participate in Superchain also benefit from having access to OP chain's validators/sequencers and the existing user base.

- To serve the purpose of connecting Dapps, Superchain uses a type of point called "reputation". When users participate in ...

Dapps on Superchain, they will accumulate a reputation. And this reputation can be used in voting, loans, and collateral. Essentially, it is like a credibility rating. And when a user uses another Dapp on Superchain, this reputation point will bring many benefits to them.

4.1 Advantages for Users:

- Users can benefit from multiple Layer2 projects using OP-Stack to build, which can lead to a fully integrated ecosystem for the project. For example, if a layer 2 project in Base uses OP-Stack, the ecosystem of Base will be almost fully integrated and

ready for the mainnet launch. Notably, this applies to almost all the projects that Coinbase invests in, and recently, "Magi," a Rollup Client from A16z, also joined in.

https://twitter.com/NoahCitron/status/1648702968219471875?s=20

- Users can also benefit from the increased security that comes with the verification of the Optimism protocol. Projects that want to develop on Optimism need to register, and the development team needs to go through KYC, which helps to limit scam cases and rug-pull.

- Currently, OP has very few projects due to the KYC process. However, after Superchain is deployed, it is expected to solve the problem that OP is currently facing.

4.2 Advantages for developers:

- Creating a layer and an ecosystem demands significant resources, including human labor, time, and financial investment. By utilizing OP-Stack and joining Superchain, developers can alleviate these challenges.

- They can benefit from the pre-existing foundational platforms, validators, and users, which allows them to concentrate on creating high-quality ecosystems and Dapps.

In general,

- The Superchain of Optimism is not a novel mechanism, as it bears resemblance to Cosmos. Nevertheless, the comparison between Atom and Ethereum could be a critical factor in determining the success of Superchain.

- Despite this, it is crucial to keep a watchful eye on the project since achieving such an ambitious goal requires attracting a substantial number of projects to participate in Superchain for it to be successful.