Layer 1 and Layer 2
I want to briefly touch on the concepts of Layer 1 and Layer 2 networks here as well.Layer 1 solutions: This refers to base layer blockchain implementations like Bitcoin or Ethereum.Layer 2 solutions: These are applications added on top of a layer one, like Chainlink or Arbitrum.Layer 2s like Arbitrum and Optimism are special in that they're trying to solve the problem of scalability. These protocols leverage something called rollups. We won't go too deep, but the idea is that the p...
Decentralized-Web
Dezentralisation will help to transcend the world. Innovation and education are key. Doing my part to make it happen !!BCW3B - Decentralized - Webhttps://www.bcw3b.ioSKILL - TREEhttps://www.notion.so/BCW3B-Decentralized-Web-6d1f3f0df46e49229028a8c5df606705?pvs=4
Blockchain and Smart Contracts
Bitcoin and BlockchainYou might be familiar with Bitcoin, which is one of the first protocols to utilize the revolutionary blockchain technology. The Bitcoin Whitepaper, authored by the pseudonymous Satoshi Nakamoto, described how Bitcoin could facilitate peer-to-peer transactions within a decentralized network using cryptography. This gave rise to censorship-resistant finance and presented Bitcoin as a superior digital store of value, often referred to as digital gold. There is a fixed amoun...
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A Layer 2 (L2) chains maturity is evaluated based on specific properties and categorized into stages. The L2B team provides an opinionated assessment to encourage a progression towards a greater decentralization.
Stage 0: In this initial stage, the rollup's governance is largely in the hands of the operators and a security council, ensuring that critical decisions and actions are overseen by a trusted group. The open-source software allows for the reconstruction of the state from L1 data, ensuring transparency and accessibility. Users in this stage have an exit mechanism that allows them to leave the rollup within seven days. However, this often requires actions from an entity/operator.
Stage 1: In this stage, governance evolves to be managed by smart contracts, although the security council still plays an important role (e.g. solving bugs). At this stage, the proof system becomes fully functional, enabling decentralized submission of validity proofs. The exit mechanism is improved, allowing users to exit independently without needing operator coordination.
Stage 2: In this final stage, the rollup achieves full decentralization with governance entirely managed by smart contracts, removing the need for operators or council interventions in everyday operations. The proof system at this stage is permissionless and the exit mechanism is also fully decentralized. The security council's role is now strictly limited to addressing any errors that occur on-chain, ensuring that the system remains fair without being overly reliant on centralized entities.
A Layer 2 (L2) chains maturity is evaluated based on specific properties and categorized into stages. The L2B team provides an opinionated assessment to encourage a progression towards a greater decentralization.
Stage 0: In this initial stage, the rollup's governance is largely in the hands of the operators and a security council, ensuring that critical decisions and actions are overseen by a trusted group. The open-source software allows for the reconstruction of the state from L1 data, ensuring transparency and accessibility. Users in this stage have an exit mechanism that allows them to leave the rollup within seven days. However, this often requires actions from an entity/operator.
Stage 1: In this stage, governance evolves to be managed by smart contracts, although the security council still plays an important role (e.g. solving bugs). At this stage, the proof system becomes fully functional, enabling decentralized submission of validity proofs. The exit mechanism is improved, allowing users to exit independently without needing operator coordination.
Stage 2: In this final stage, the rollup achieves full decentralization with governance entirely managed by smart contracts, removing the need for operators or council interventions in everyday operations. The proof system at this stage is permissionless and the exit mechanism is also fully decentralized. The security council's role is now strictly limited to addressing any errors that occur on-chain, ensuring that the system remains fair without being overly reliant on centralized entities.
Layer 1 and Layer 2
I want to briefly touch on the concepts of Layer 1 and Layer 2 networks here as well.Layer 1 solutions: This refers to base layer blockchain implementations like Bitcoin or Ethereum.Layer 2 solutions: These are applications added on top of a layer one, like Chainlink or Arbitrum.Layer 2s like Arbitrum and Optimism are special in that they're trying to solve the problem of scalability. These protocols leverage something called rollups. We won't go too deep, but the idea is that the p...
Decentralized-Web
Dezentralisation will help to transcend the world. Innovation and education are key. Doing my part to make it happen !!BCW3B - Decentralized - Webhttps://www.bcw3b.ioSKILL - TREEhttps://www.notion.so/BCW3B-Decentralized-Web-6d1f3f0df46e49229028a8c5df606705?pvs=4
Blockchain and Smart Contracts
Bitcoin and BlockchainYou might be familiar with Bitcoin, which is one of the first protocols to utilize the revolutionary blockchain technology. The Bitcoin Whitepaper, authored by the pseudonymous Satoshi Nakamoto, described how Bitcoin could facilitate peer-to-peer transactions within a decentralized network using cryptography. This gave rise to censorship-resistant finance and presented Bitcoin as a superior digital store of value, often referred to as digital gold. There is a fixed amoun...
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