Is Scroll ETH 2.0?

scroll_2.0@newsletter.paragraph.com (paw) — Wed, 15 May 2024 19:45:01 GMT

Post-merge Ethereum used to be called ETH 2.0 (this name was eventually dropped), and there have been many talks about which L2 is going to "win", but — bear with me — what if Scroll was the ETH 2.0 all along?

For those that don't know, Scroll is an Ethereum zk-Rollup. Zk-Rollups (Zero-Knowledge Rollups) aggregate multiple transactions into a single batch, generating a cryptographic proof that verifies the correctness of these transactions. This proof is then submitted to the Ethereum mainnet, ensuring that the mainnet only needs to verify the proof rather than each individual transaction.

So why do I call it ETH 2.0? Well, barring the fact that Ethereum devs are working on it, there are plenty similarities between Scroll and Ethereum itself.

• Zk-Rollups finalize immediately and, as opposed to optimistic rollups, do not require a challenge period. This reduces the risk of fraud as well as the risk that it goes undetected. For context: there has never been (to my knowledge) a challenge of the state of Arbitrum or Optimism. Is it because nobody has cared to attack them yet, or is it because those frauds have slipped through? Either way, all rollups (both zk-Rollups and Optimistic Rollups) inherit the security of Ethereum mainnet. However, zk-Rollups provide a direct cryptographic link that is considered more robust in terms of security.
• Scroll emphasizes decentralized and trustless proof generation, which aligns with the Ethereum's ethos of decentralization.
• As mentioned in the DailyDoots episode #64 by @Swagtimus, a Scroll team member, Scroll is interoperable with Ethereum; it's just as easy to deploy dapps on Scroll as it is on Ethereum — all you have to do is copy, paste, and deploy your existing Ethereum projects onto Scroll as-is.
• It's just as slow to upgrade — blobs have been out for 2 months, and yet Scroll is yet to fully implement them, so it still suffers from high transaction costs. Sounds familiar, eh? :)
• It suffers from the same lack of marketing and outreach. As pointed out by @LogrisTheBard in the DailyDoots episode #64, the ways to earn yield on your ETH are not sufficiently marketed by the team, thus leading to lower TVL. People are simply not aware of the ways to earn on Scroll (and some are not even aware what Scroll is!).

So in essence, Scroll might be the most Ethereum-like L2 out there. It aligns well with the ethos and does not compromise on decentralization and security. But with it come all the same issues, and just as Ethereum is losing the sentiment battle against L1s over and over again (and marketshare along with it), so will Scroll if it remains sluggish at improving its UX and doesn't engage with the users more. And yes, I'm salty, because I've experienced slow/failing transactions and other bugs in peak times that I haven't experienced elsewhere :) and if/when the token comes out, I'll be asking myself, "do I believe that ETH^squared can outperform other coins?"... you can probably guess the answer :)