Technology
Cryptocurrency
Blockchain
Decentralized Applications
Blockchain Technology
Smart Contracts
Scalability
An opportune reminder for why I think it'll take till 2023 for smart contract rollups to be a mature endgame solution for the blockchain industry, and what remains to be implemented:
- Decentralized contract upgradeability
- Decentralized sequencing & proving
(contd.)
- Decentralized contract upgradeability
- Decentralized sequencing & proving
(contd.)
- Data compression (applies to ORs, most ZKRs have this)
- Battle-testing novel ZK primitives
- Scalable DA layers
- Applications optimized for rollups
- ASIC provers (ZKRs)
- Recursive proofs
- General battle-testing, exiting beta
- State management (eg. expiry)
(contd.)
- Battle-testing novel ZK primitives
- Scalable DA layers
- Applications optimized for rollups
- ASIC provers (ZKRs)
- Recursive proofs
- General battle-testing, exiting beta
- State management (eg. expiry)
(contd.)
Most importantly, infrastructure for end users to run light clients (see: Durin for Ethereum), or even stateless rollup full nodes; have easy access to L1 transaction submissions or escape mechanisms, for truly equivalent security to L1.
All of this will take time.
All of this will take time.
By maturity, I mean maturity - when they are ready to replace Bitcoin & Ethereum for global scale consumption. I'm not talking about alt-L1s, most (but not all) of whom are also beta products and will also take years to mature. I do expect rollups to gain traction in 2022.
Interestingly, I wrote about this topic 6 months ago and was even looking into early 2024. A lot of progress has been made, and some of my concerns then are much milder than I thought. So, I'm actually more optimistic than ever!
polynya.medium.com
polynya.medium.com
Let it be very, very clear: I strongly believe rollups & scalable DA layers are the only way the blockchain industry can scale to global ubiquity. At the same time, this is bleeding edge tech & will take time to mature. FUDing rollups now is like FUDing smart contracts in 2016.
Also, I'm talking about smart contract rollups. Many application-specific rollups have been live and battle-tested for a long while now. Loopring, the first rollup, released almost 2 years ago now! Finally, you're very welcome to use alt-L1s, no need to send me hateful messages.
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