ZoneBitcoin EditorialAh, the fateful question is asked! Who doesn't know how to ask the question of what would happen once Ethereum 2.0 was released? I mean, specifically what would happen with the solutions put in place to improve Ethereum 1.0?
We are entitled to ask ourselves the question because after all, we are moving towards the Ethereum update (The Merge) and the solutions of layer 2 as Optimism, Looping (LRC) ou Polygon for example, also explode.
We then wonder, should we continue to invest massively in these tokens in the future? Are these solutions ultimately only "temporary"?
If you had anxiety thinking about the aftermath of Ethereum 2.0, then how can I tell you that this article is written for you?
We put ourselves back in context
As you know, there have been several solutions that have emerged to overcome the many problems (scalability, fees) of the Ethereum network. We can cite layer 2 solutions known as Polygon or Optimism for example.
—->Optimism Tutorial: How to Reduce Fees on Ethereum
Indeed, by "unclogging" the main layer of the network, transactions are then faster and also cheaper. It is Ethereum which benefits first with satisfied users.
So, unsurprisingly, many applications have rushed to use these solutions. Let us recall that Polygon has experienced an exceptional increase due to the "migration" on its protocol.
So far, it's ok, we all understand the usefulness and use of solutions of this type.
And, this is where our initial question takes on a dramatic dimension. Now that the London hard fork of Ethereum has taken place and we are moving towards the eth2 update, what will happen to these solutions?
Layer 2 solutions quickly explained
There are different types of layer 2. The best known and most used are certainly those called "rollups" and " sidechains". Rollups are a higher layer that will collectively process transactions and submit them as one to the main network. There are different types of rollups like plasma, validium and ZK rollups for example. The idea of a "rollup" is that this chain will "roll up", "wrap" different operations and only send one operation to be processed by the main chain.
Sidechains are easier to understand, in theory, because they are actually sort of clones of the main chain. Thus, operations can be processed there while freeing up some space in the main layer.
This is not the subject of this article, but you should know that layer 2 also has its security problem. Rollups leverage the security of the Ethereum network while standalone sidechains have their own security methods.
The answer to the question: What will happen to layer 2 solutions after Ethereum 2.0
The problem with these solutions comes not from their infrastructure but from their nature. Let me explain, it seems that they are ultimately temporary. At least as temporary as Ethereum's problems are.
Likewise, we must talk about it here, the Ether update will rely on a completely different solution called Sharding.
To explain sharding to you, tell yourself that it is a solution of scalability which will divide the blockchain into a multitude of different pieces. This allows the decentralized network to be able to divide the work to be done. One piece will then validate a category of operations while another piece will validate other operations….Thus, the network will be able to manage different operations at the same time and prove to be useful for on-chain transactions for example, in high demand in games.
Ethereum claims that sharding alone could increase the level of 15 transactions per second (TPS) to 3000 transactions! In fact, with layer 2 + sharding solutions, it would not be 3000 transactions but more than 100,000 or even more!
Will sharding on Ethereum be sufficient and self-sustaining? Not necessarily, it is also said that Ethereum 2.0 will certainly use sharding but also existing layer 2 solutions. The two methods are not incompatible.
So, has your question been answered or not?
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Disclaimer : This article is provided for informational purposes only. This is not financial, legal, tax or investment advice. Always do your own research before investing in any crypto.
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