5045
jeremy.eth
@posvar #5045
Building the future of Ethereum scaling with Facet Protocol.
🤏ittybits founder
114 Follower 82 Following
Agree with @polynya - What if L2Beat’s/Vitalik’s stages were extended to transcend privileged keys and governance altogether - matching the reality of the L1 itself.
11188
polynya
@polynya·03:43 15/06/2024
IMHO, L2Beat's/Vitalik's Stages are incomplete. For Stage 2, in addition,
- Alternate sequencing triggered within 1 epoch (i.e. 6.4 minutes). Currently, Optimism is 12 hours, which is not acceptable (preferably, there's real-time distributed sequencing)
- Security council has pause rights only; upgrades even for onchain provable bugs must go through governance, emergency path with >X% approval
Then, there should be an optional Stage 3, or Stage X, where:
- Based or based-like sequencing is mandated
- Security council is dissolved
- Smart contracts upgrades require >Y% (80%?) approval from the protocol's full governance, in addition to >30d delay
For big-tent high-value L2s like Arbitrum One, Stage 3 should be the target. For most, Stage 2 should be perfectly fine, and even Stage 1 enough for many lower-value app-specific L2s.
- Alternate sequencing triggered within 1 epoch (i.e. 6.4 minutes). Currently, Optimism is 12 hours, which is not acceptable (preferably, there's real-time distributed sequencing)
- Security council has pause rights only; upgrades even for onchain provable bugs must go through governance, emergency path with >X% approval
Then, there should be an optional Stage 3, or Stage X, where:
- Based or based-like sequencing is mandated
- Security council is dissolved
- Smart contracts upgrades require >Y% (80%?) approval from the protocol's full governance, in addition to >30d delay
For big-tent high-value L2s like Arbitrum One, Stage 3 should be the target. For most, Stage 2 should be perfectly fine, and even Stage 1 enough for many lower-value app-specific L2s.
With the recent @base hype – do you really know what's powering #L2 scaling for #Ethereum? Let's break it down step-by-step following a "mint" transaction - which might reveal a few 'centralized' surprises. ETH purists, brace yourselves: 🧵
https://x.com/posvar/status/1774532701313433934?s=46
https://x.com/posvar/status/1774532701313433934?s=46
2,390...
The # of Days the first Ethereum #ethscriptions preceded the first Bitcoin #Ordinals.
Six-and-a-half-years, immutably preserved on-chain. Few...
The # of Days the first Ethereum #ethscriptions preceded the first Bitcoin #Ordinals.
Six-and-a-half-years, immutably preserved on-chain. Few...
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