Reading, writing, and educating about modular blockchains. Investing at @electriccapital. Views my own.
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Nov 29, 2022 • 24 tweets • 6 min read
1/ Celestia is being hailed as the most important baselayer innovation since Ethereum.
To understand where crypto is headed, you must understand Celestia.
But nobody's explained it well so far.
Until now 🧵 2/ The first step in understanding Celestia is to understand the app-chain thesis.
The app-chain thesis suggests that eventually we'll see most dApps running on their own blockchains.
Why? Because app-specific chains get a host of benefits that apps on shared chains don't.
Oct 12, 2022 • 17 tweets • 4 min read
1/ To understand ETH, you need to understand rollups.
To understand rollups, you need to understand data availability.
But WTF is data availability?
Let's get you up to speed 🧵 👇 2/ Let's start with the basics:
ZK rollups work by generating L2 blocks, and then submitting a proof to ETH which guarantees the computation in those blocks is correct.
Sep 28, 2022 • 24 tweets • 7 min read
1/ Ethereum is pushing rollups for their scalability benefits.
@CelestiaOrg is pushing a new twist on rollups, called sovereign rollups, for their added benefit of "sovereignty"
What are the tradeoffs of these different rollup constructions?
Let's break it down. 🧵👇
2/ The following graphic shows the 3 types of rollup constructions, which differ on how they can be upgraded.
Immutable rollups - can't be upgraded
Governance rollups - upgradeable via governance
Sovereign rollups - upgradeable via social consensus
Aug 23, 2022 • 21 tweets • 6 min read
1/ The case for why today's optimistic rollups (not ZK rollups) may have the best chance of winning the L2 wars 🧵👇
2/ Most people, including myself, think that ZK rollups will beat out optimistic rollups in the long term (better interoperability, L3 scaling, etc.)
Despite that, today's optimistic rollups such as @arbitrum and @optimismFND could end up the biggest winners.
Jul 28, 2022 • 12 tweets • 5 min read
1/ @VitalikButerin provided some theoretical estimates of what fixed and variable gas costs might be for rollups.
How do theoretical estimates compare to the actual costs?
I checked and got some surprising results 👇
2/ Rollups work by batching transaction data and periodically posting them back to L1.
Their L1 gas costs for this can be broken down into two buckets: 1. Fixed gas cost per batch 2. Variable gas cost per transaction
Jul 7, 2022 • 29 tweets • 7 min read
1/ ELI5: The argument for why Solana will eventually become a rollup on Ethereum (or other base layer). 🧵 👇
2/ Let's first start with a basic fact. The market cap of any L1 token MUST go up for that network to be secure in the long term. The more it goes up, the more secure the network is.
Jun 2, 2022 • 19 tweets • 7 min read
1/ Modular blockchains promise to finally bring scalability to crypto. They also enable many types of rollup configurations, which can be a bit confusing to understand.
Let's dive into understanding the different types of rollup configurations that are possible.👇
2/ There are three different types of rollups that are enabled in a modular blockchain stack:
1. Secured rollups 2. Sovereign rollups 3. Settlement rollups
This diagram lays out the different rollup types and which functions are performed on which layers.