Maintaining Security while Reducing Costs
Maintaining Security while Reducing Costs
Ethereum has a TPS (transactions per second) problem, and while efforts are being made to improve its own blockchain and alternative blockchains have emerged, there is a third way that has yet to be discussed: Layer 2 solutions.
These solutions build on an existing blockchain (Layer 1) to “expand” its capabilities.
Sidechains are blockchains that can operate independently of Layer 1, validating their own operations, but then periodically inserting the data of those operations into Layer 1. Polygon is an example of this. Polygon achieves much higher TPS (7200 TPS according to them) at a much lower cost (typically 100 times less).
The positive aspect of Layer 2 blockchains is that they inherit the security of Layer 1. This is why many people do not consider sidechains, particularly Polygon, to be Layer 2, because Polygon uses its own system to validate operations.
Rollups are pure Layer 2 expansions where Layer 2 is used to execute dApps, and the results of those operations are inserted into Layer 1. This way, Layer 1 is relieved of performing operations and costs are reduced.
There are two types of rollups in Ethereum, which are distinguished by the way operations are validated:
Optimistic Rollups — Operations are validated by “Fraud Proof”
Zero-Knowledge rollups (ZK rollups) — Operations are validated by “Validity Proof”
These rollups increase TPS and decrease costs, but they also have their drawbacks. For example, in Optimism, sending Ethereum cryptocurrency to the Optimism blockchain is instantaneous, but sending cryptocurrency from Optimism to Ethereum can take up to 7 days, due to the way Optimism validates operations (Fraud Proof).
In Fraud Proof, it is the validator who can “challenge” a transaction, whereas in Validity Proof, the validator validates the transaction at the same time it occurs, so there is no waiting time (like the 7 days in Optimism).
For this reason, many people believe that ZK rollups will be the future. What is clear is that Optimistic rollups are the present, as both Arbitrum and Optimism, both Ethereum Layer 2 solutions, are in the top 5 most used blockchains.
In conclusion, Ethereum is likely to remain a Layer 1 solution for high-value operations (as it can process few operations and they are much more expensive), and to host the packaged operations of rollups, while rollups would be used to process most operations, as TPS is much higher and costs are much lower.
(If you want to delve further into scalable solutions, you can continue here)
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