Dear Frens,
In recent months, we have dwelled heavily on major protocol and onchain upgrades. From Ethereum’s Dencun upgrade to Optimism’s fault proofs, we have highlighted their importance, challenges, and some updates to come.
In this issue, we are drifting a bit from software updates to more public goods-related subjects. However, with the Optimism Superchain being the topic of interest, you can say we are still along the software borders.
The Optimism Retro Funding Round 4 is here. 10 million OP has been dedicated to rewarding Superchain builders with applications opening in May. Public goods funding has become a very important aspect in web3 and protocols like Optimism have been at its center. After discussions in moving from broad to more narrow-scoped rounds, we would be witnessing its first iteration with this round.
In this issue’s editorial, we give a TL;DR into the Superchain vision. Stay strong, stay optimistic, and we hope you have an amazing read. See you in two weeks frens!
Contributors: Warrior, jengajojo, Tonytad, anointingthompson1, Boluwatife, Kornekt, WinVerse
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🗞️ Ecosystem Updates
⛓️ Celo Developer cLabs Proposes Using OP Stack to Launch Ethereum Layer 2 Chain
🆕 Worldcoin to Have its own Layer 2 Blockchain Called World Chain
🔀 OKX Launches new Layer 2 on Mainnet, Aims to Bring 50 Million Users Onchain
➿ Seamless Protocol Launches Altcoin-specific DeFi Lending Market on Base
⚡Offchain Labs Releases Arbitrum BOLD on Testnet
⭕ DePIN Project SendingNetwork Raises $7.5 Million From Balaji Srinivasan and Others
🔥 Hot News
Celo Celebrates 4 Years and Gears Up for Major Upgrade
It's a party over at the Celo camp! The mobile-first, EVM-compatible blockchain has passed the four-year mark today, and they're not just blowing out candles. Nope, the Celo team has a massive surprise in store for the web3 ecosystem.
On this milestone anniversary, cLabs, the team behind Celo, has dropped a bombshell proposal stating their plan to migrate the entire Celo blockchain to an Ethereum Layer 2 solution. However, it is not just any L2, but one built using the battle-tested OP Stack from Optimism.
Now, this isn't a decision they've taken lightly. The Celo community unanimously voted in favor of exploring L2 options, and cLabs has been rigorously testing and evaluating contenders like Polygon CDK, Arbitrum Orbit, and ZK Stack. They even implemented the Gingerbread Hardfork to pave the way for the eventual transition, dubbed #CEL2.
After weighing factors like time to production and Ethereum alignment, cLabs has settled on the OP Stack as the clear winner and it's not hard to see why. This solution promises to maintain all the unique features that make Celo stand out, like 1-block finality, low gas fees, and the ability to send money using a phone number or email address.
By leveraging the OP Stack, Celo is set to receive a massive performance boost. We're talking about a 50% increase in throughput and a slashing of block times from 5 seconds down to a blistering 2 seconds. Also, let's not forget the added security of bridging directly to the Ethereum network.
If the Celo community gives the green light, cLabs could have #CEL2 up and running on testnet as early as Summer 2024.
For all the juicy details, head to the Celo Forum and check out the proposal and discussions. This is one upgrade you don't want to sleep on!
🏛 Governance
💬 Proposals in Discussion
Arbitrum
Optimism
Polygon
Starknet
Celo
OP’s Superchain Vision
Author: Kornekt
The Optimism Collective is facilitating an ecosystem of composable and interoperable L2 networks built using the OP Stack — a comprehensive technology that streamlines the creation of L2 chains. At its core, the OP Stack provides a standardized framework for implementing essential components such as data availability, sequencing, execution, settlement, and governance layers essential for rollups.
The Collective's vision is not just for the OP stack to be used to build several individual chains, instead, the idea is to foster a unified multi-chain ecosystem — the “Superchain”. Worldcoin and Celo are some of the latest protocols looking to build on the OP stack, on a mission to be a part of the Superchain. What’s this Superchain all about? Let’s find out!
Into the Superchain
The Superchain represents a significant evolution beyond isolated rollups by transforming them into a network of interconnected chains, each contributing to a unified ecosystem. Unlike traditional single rollups which operate independently, the Superchain fosters collaboration and interoperability.
Within the Superchain, OP Chains (protocols built on the OP Stack) utilize the OP Stack as a shared foundation, ensuring a consistent and standardized approach to building rollups. This shared foundation enables OP Chains to benefit from a common security model, streamlined communication and simplified bridging mechanisms. Instead of each rollup chain operating in isolation, they become part of a cohesive network, sharing resources and capabilities.
One of the key objectives of the Superchain is to facilitate seamless interaction and interoperability among OP Chains. The Superchain enables frictionless cross-chain transactions and data transfer by establishing standardized protocols and communication channels. Users can seamlessly move assets and information across different OP Chains, experiencing a unified and interconnected ecosystem similar to navigating a single chain.
Ultimately, the emphasis on seamless interaction within the Superchain not only improves user experience but also unlocks new possibilities for decentralized finance, gaming, and other blockchain-based applications. It paves the way for a future where blockchain technology is accessible, user-friendly, and capable of supporting a wide range of use cases.
Why Superchain?
Here’s an overview of some of the specific advantages that the Superchain vision brings:
Effective Ethereum Scaling
The Superchain achieves effective scaling of Ethereum by horizontally scaling the network, thereby mitigating the bottlenecks associated with single rollup solutions. Unlike traditional vertical scaling, which involves increasing the capacity of individual nodes or components, horizontal scaling focuses on adding more nodes or components to the network.
In the context of the Superchain, this means expanding the network by integrating multiple OP Chains, each operating as a scalable rollup solution. By utilizing the OP Stack, developers can easily create customized chains tailored to specific use cases, effectively scaling Ethereum's capacity to handle diverse workloads.
Furthermore, by interconnecting these OP Chains within the Superchain, the network gains the ability to process transactions in parallel across multiple chains. This parallel processing capability significantly increases throughput and reduces latency.
Composability and Interoperability
One of the major problems still facing the L2 ecosystem is the issue of interoperability between the available L2 networks. Optimism’s Superchain hopes to eliminate this hurdle by making assets and information move freely between interconnected OP Chains. This interoperability is facilitated by the shared foundation provided by the OP Stack. As a result, dApps built on different OP Chains can interact with each other seamlessly, leveraging the unique features and capabilities of each chain to enhance their functionality.
The modular architecture of the OP Stack allows developers to create specialized OP Chains tailored to specific use cases or applications. By deploying dApps on these specialized chains, developers can take advantage of the scalability and performance benefits offered by the Superchain while maintaining interoperability with other chains in the network.
Developer Innovation
The Superchain fosters developer innovation by promoting the creation of specialized chains tailored to different applications, while still maintaining network-level benefits. Developers have the flexibility to design and deploy OP Chains that are optimized for specific use cases or applications, thanks to the modular architecture of the OP Stack. These specialized chains can be customized with features and configurations that cater to the unique requirements of different dApps.
By combining specialized chains' flexibility with the Superchain ecosystem's interoperability, developers are empowered to innovate and create new types of decentralized applications that offer unique and compelling user experiences. This approach to blockchain development encourages collaboration, experimentation, and the exploration of new use cases, driving the continued growth and evolution of the Superchain ecosystem.
The Decentralized Future
With its emphasis on scalability, interoperability, and innovation, the Superchain concept heralds a new era in blockchain technology. While the Superchain is still a work in progress, its finalization will pave the way for broader adoption, propelling the development of decentralized applications across various industries and unlocking novel possibilities that will drive the decentralized web. For a full breakdown of the technical details associated with the Superchain, check out the Optimism Docs.
🔭 Project Watch
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