1559-outreach VS l2beat

If I became a HOP delegate, this would be my first time doing any type of delegated governance work. So I can understand some hesitation in delegating to a new coming. However, between the general knowledge throughout my history in the space and my involvement in other projects I think I can do a good job at it. Some examples where I've been part of projects to better the Ethereum ecosystem include content creation for Support1559.org (no longer functional, so here is the GitHub referencing that as part of a bigger EIP1559 signaling project), ethsunshine.com (commits), and ethmerge.com (joint commit). I also took a stab an aggregating commitments to 22% staking caps (GitHub Page), as well as am one of the multisig members of the EVMavericks project. Those have all had varying degrees of success, but they have been steps in my goal of being more than a passive investor. As noted above, I think trying out the delegate space is sort of a new mountain to conquer, hence my hemming and hawing about it broadly.

u/superphiz made a post 'yesterday' (yup, that time of night where it's technically yesterday but I didn't sleep and it's way past my bedtime) about asking staking entities to limit validator control to 22% of the network. I decided to make a GitHub list inspired by https://github.com/ethereum-cat-herders/1559-outreach/blob/main/README.md to track entities that have committed to the 22% limit.

Trent Van Epps and Tim Beiko catalog application sentiment on #EIP1559: "Almost every project / team supports this change".

Trent Van Epps has put together a GitHub catalog of applications & projects that have shown their support of EIP-1559 – HERE!

I don't really know much about how GitHub works but I think clicking the "Issue" tab and clicking "New Issue" will do it. However, I think they really want you to use "Pull Requests" based on https://github.com/ethereum-cat-herders/1559-outreach/issues/1

The 1559 Support GitHub looks to have added 1inch within the last hour. As well as Hayden Adams from Uniswap supporting on Twitter. (Do note, some at Uniswap were neutral and that's why Uniswap isn't a full "Support" on the GitHub).

A real layer 2 would look more like something built on Ethereum (can see all its L2s at https://l2beat.com).

Essentially it's a separate network that every few minutes takes every transaction and compresses it into a data blob that it saves on Ethereum along with a proof that the computation was done correctly. The Ethereum L1 nodes then only need to verify the proof instead of re-executing all transactions that happened on the L2.

With this design users can go straight from an exchange like Coinbase onto the L2 and never need to use Ethereum, and fees are 10x cheaper because of the data compression. Fees will soon be 100x cheaper as Ethereum is adding extra space just for these L2 data blobs that is much cheaper than normal Ethereum data space.

Unfortunately it can't be done on Bitcoin right now because Bitcoin nodes don't have Turing complete scripting and so can't verify the proof that an L2 posts to Bitcoin.

We are running & maintaining the site (https://l2beat.com). Our work is to look on the current Layer 2 deployments on Ethereum & show risks and statistics to the end user. Very interesting thing is that we are a public goods company trying to stay as objective as possible in the industry full of subjectivity. What I mostly like in this job is that I am a part of the project shaping how it looks, not only mindlessly taking someones orders.

Candidate:

Ecosystem fragmentation is not necessarily a bad thing. It leads to rapid development through competition. Different L2s are competing against each other to provide the best service and that has lead to a cambrian explosion of solutions. It's also a very effective way to explore the solution space, I'm sure many will disappear, others will get eaten, and at some point there will be consolidation. But all this seems like a good approach early on when tackling complex problems for which the ideal trade-offs are not entirely obvious. Explore as much of the solution space as possible and trim later on.

A perhaps more pernicious problem is liquidity fragmentation. Moving assets between L2s is a tedious friction that leads to fragmentation of liquidity. In that respect, zero-knowledge rollups present a big advantage as you can share liquidity between them as long as they share some zk-circuits that allow to prove statements to both chains. All this is being very actively worked on. And the technology behind it is short of fascinating. The typical HN audience would have a huge hard-on for it, if they didn't have such a strong preconception against crypto-anything.

If anyone is curious to learn more about L2s a good starting point is here: https://l2beat.com/

And if you want to see Ethereum scaling progress you can check it here: https://l2beat.com/scaling/activity

The next major upgrade to the protocol, slated for late this year or early 2024 (date is not finalized yet), will focus on scalability by making L2 activity veeery cheap.

These two links will give you a lot of the info you need to compare L2s: https://l2beat.com/ and https://www.growthepie.xyz/ - enjoy.

Source: https://l2beat.com

Thanks! l2beat.com is the best.

In addition to what others said, I always find https://l2beat.com useful to see a summary of the security assumptions behind the various L2s. Currently, all L2 need to be trusted to some extent as they are still quite in development.

Exponential.fi has good summaries and links to the projects. And https://l2beat.com is also great for judging L2s.

Take a careful look at https://l2beat.com