- What is it?
- How is it different?
- What are the tradeoffs? ( bc remember EVERYTHING is a tradeoff)
- Should you care?
- and a little $ARBI airdop juice
Arbitrum is an optimistic rollup (OP) L2 built by @OffchainLabs.
The currently-live implementation is called Arbitrum One and is the most successful rollup to date (measured by TVL).
A thread on the entities and roles in a rollup tx
At a high level, there are three entities involved in a rollup transaction:
- the user on the rollup
- the rollup operator
- #Ethereum L1.
The rollup operator that sits in between the user and mainnet has tremendous responsibility and also some power.
Oct 5, 2022 • 21 tweets • 9 min read
$SUSHI "elected" a new chef!
You didn't think voting controversy only existed in the Trad world, did you??
Let's discuss the pathetic vote, the results, and what it could mean for @SushiSwap and on-chain governance moving forward
Headline: Jared Grey, former CEO of DeFi platform Eons Finance, won with 83% of the votes. A landslide!
Reality: The vote was held in the depths of a bear market, and only ~2% of eligible voters actually voted. Democracy!
Oct 4, 2022 • 25 tweets • 7 min read
Is the looming $XRP-SEC settlement the end of an epic battle or just the beginning?
With a decision possibly coming as soon as this year, #crypto needs to be prepared for any outcome.
Let's do a quick review and then look ahead..... 🧵
Gary Gensler, Chairman of the #SEC, has repeatedly been on the record that he believes most cryptocurrencies outside of #Bitcoin are securities.
In September, Gensler was quoted, “the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities…
Which begs the question(s)...
How low can tx fees go?
And what are the actual points in a rollup tx that incur a cost?
-What actually incurs a cost?
- What steps in a L2 tx cost the most?
- Does it vary for ORS vs ZKRs?
- What costs are fixed vs variable?
- Who's doing it best? @ryanberckmans
Sep 16, 2022 • 26 tweets • 9 min read
Ethereum just moved to #PoS but #Avalanche and its C-Chain have been PoS for ~2 years. So, what's the big deal?
How does $AVAX PoS work?
How does its consensus algo differ from what ETH just implemented?
And can #Avalanche truly have a million+ validators one day??
The Avalanche network doesn’t use just one consensus mechanism but rather a collection of consensus protocols.
What is the Primary Network?
A three-chain (X, P, and C) system that segregates the work done by the overall network.
Sep 15, 2022 • 15 tweets • 8 min read
Underneath all the songs, pandas, and memes, the #EthereumMerge is bittersweet.
5+ years of waiting, and it's finally here!... Only, it's not like I imagined.
A thread on the ugly/glass-half-empty side of the #Merge from a long-time $ETH bull...
It's going to be impossible to make my argument and not sound whiny or a buzzkill or ungrateful or simply FUDing. That's not my intention. But like with everything, the merge comes with a cost.
However, lemme stress, this is a HUGE accomplishment. Kudos to all the devs involved
Sep 15, 2022 • 24 tweets • 9 min read
The #EthereumMerge was a success! But who has time to celebrate? There's still YEARS of work to be done!
In this part 2, we cover the years ahead, looking well into Ethereum’s (ever-changing) roadmap.
2/ In the case of ORs, no computation is actually done.
They “optimistically” assume all state changes are valid & post the off-chain txs to #ETH’s L1 as calldata.
To counter any potentially fraudulent txs, a dispute period is put in place for ~one week after posting to L1.
@arbitrum fees caused a frenzy last week. But is there any need for concern?
This thread will explain
- what happened
- will it happen again
- what can be done to mitigate it in the future
2/ A common misconception with the emergence of layer-2 and #rollup protocols within #Ethereum is that they will automatically come with cheaper gas fees and easier transactions for users.
May 11, 2022 • 16 tweets • 10 min read
Quick thread on @CryptoEQ Fundamental Ratings as we get TONS of questions around them.... especially in a bull market when XYZ coin is pumping and outpacing #BTC and #ETH
We list ~50 crypto assets but only have a Fundamental rating on ~30. Why so few?
Because that's all that ACTUALLY matters in the #crypto ecosystem.
And, if we're being honest, probably just 15 but we feel a bit obligated to cover the crap/scam coins in the top 30 as warnings
Seems #Ethereum has an affinity for making up words these days! And it all starts with (the normal sounding) #calldata
Let's figure out why, define some of these ridiculous terms, and see how #ETH can get even better
2/ #Rollups (RU) post their compressed L2 batched transactions as calldata onto mainnet Ethereum. But what does that mean and what is calldata? #l222
Calldata (CD) is a specific form of read-only memory data used by smart contracts to call external functions.
Mar 9, 2022 • 22 tweets • 21 min read
🧵 on some of the major smart contract chains, their different approaches, and how HOPEFULLY (for the love of all that is holy) we are moving away from simply "X chain is superior because it did XXXX TPS on a closed environment testnet" #Ethereum#terraluna#Solana#AVAX
As @epolynya has alluded to several times, #TPS numbers are almost meaningless now. Especially anything under 100k.
At the risk of having this thrown in my face 5 years from now, TPS is essentially solved.
Mar 8, 2022 • 23 tweets • 14 min read
How and why "data availability (DA)" became the sexiest topic in #Ethereum land, the #l222 space, and for #rollups2/ Pre-2021 (roughly speaking), DA for most #blockchains wasn't a concern for 2 reasons: 1) most blockchains did not have enough usage to warrant any concern 2) the monolithic approach meant that each (full) node downloaded the entire block to check for availability no problemo
2/ Blockchains like #Bitcoin and #Ethereum strive for maximum #decentralization and #censorship-resistance while remaining totally open and inclusive networks. However, they also want to scale to accommodate billions of users.
Feb 15, 2022 • 26 tweets • 15 min read
For years, as I have discussed the value prop for seizure-resistant, non-sovereign💲like #BTC with noobies, I have always had to caveat it with "we don't think about it in the Western world too much bc our money, banking system, and law typically work well"
1/ Previously, I covered #L222 zk-rollup projects Starkware and zkSync but looking back, I should have begun with sidechains.
The who, what, why/why NOT, security guarantees, etc.
So, here's a 🧵 discussing sidechains generally and then a bit on #Polygon2/ In the context of #Ethereum, sidechains are separate, Ethereum-compatible blockchains. Sidechains can be independent #EVM -compatible blockchains as well as application-specific blockchains catering to #ETH users and use cases like @0xPolygon or @Ronin_Network .