A place for talking about the Ethereum Virtual Machine on Farcaster.

According to @l2beat, the top 5 L2s by TVL today are:

@arbit 
@optimism 
Blast
Manta
@base

L2BEAT is an open source, public-good analytics and resrarch platform dedicated to L2 scaling solutions. ❤️

Lots of new users 👀

We have seen daily active users on L2s increase by almost 10x over the past year as highlighted in the Token Terminal chart

But Kelli, aren’t L2s all the same? 

Well, not exactly. We have zk rollups, optimistic rollups, zk starks, zk snarks, hybrid rollups, modular rollups, and the list goes on. 

This chart from Token Terminal does a good job of comparing five of the top L2s with @base

As for zk rollups, @vitalik.eth defined the 5 types. We have Type 1, Type 2, Type 2.5, Type 3, and Type 4.

With Type 1 being as close to @ethereum  as possible and Type 4 meaning that smart contracts might need to be rewritten and are not compatible with all ETH tooling.

Chart by Eth Daily

So, what are some advantages of L2s?

1. Scalability 

Decrease congestion on L1 & increase transaction throughput 

2. Lower fees 

3. Flexibility 

Modular blockchain infrastructure like @celestia enables flexibility in customizing your L2 (Settlement, Execution, Data Availability, and Sequencing)

We love to see it. 

OP Chains have the most affordable decentralized L2 transaction fees after 4844, bringing us that much closer to the reality of seamless end-user experiences.

✨In Blobs We Trust✨

The Dencun Upgrade 🛠️

Calldata method is out, blobs are in. 

Blobs have officially arrived on ETH. They are designed to bolster Ethereum by enhancing data availability without impacting existing infrastructure. This leads to much lower transaction fees for L2s.

The Dencun Upgrade 🛠️

Calldata method is out, blobs are in. 

Blobs have officially arrived on ETH. They are designed to bolster Ethereum by enhancing data availability without impacting existing infrastructure. This leads to much lower transaction fees for L2s.

https://warpcast.com/optimism/0x8077c14b

Thanks to rollups-as-a-service like @calderaxyz  and @conduit teams can now make custom L2s with a few clicks. 

More and more teams are opting to build an L2/L3 on @optimism  Superchain,  @arbit  Orbit and @zksync  Hyperchain, and @0xpolygon  Agglayer

We are also seeing a massive influx of new Bitcoin L2s.

Why? It’s simple 🟠

The Bitcoin halving is right around the corner, ordinals are exploding, and a growing interest in Bitcoin ETFs

Bitcoin L2s enable more use cases for Bitcoin on dApps with DeFi, NFTs, Gaming, and more

But what exactly is a hybrid rollup?

@metisl2 designed the first ever hybrid rollup which they define as “combining the transcendent scalability of Optimistic Rollups with the security and fast finality of Zero-Knowledge Rollups”

What is fhEVM? 🤔

fhEVM is an enhanced version of EVM that incorporates TFHE (Torus Fully Homomorphic Encryption)

In short, it allows developers to:

🧮 Perform computations on both encrypted and unencrypted data 

🪖 Seamlessly integrate existing Ethereum development tools