Metis aims to become Ethereum's first fully decentralized Layer 2 in 2023

Metis aims to become Ethereum's first fully decentralized Layer 2 in 2023

By: TOGRP

September 18, 2023 3:49 AM / 0 Comments Ethereum Blockchain In Brief News ZentaPost Banking and Finance

Ethereum Layer 2 scaling solution Metis aims to become Ethereum's first decentralized Layer 2 infrastructure, empowering its community to take over key centralized components of the network

Ethereum Layer 2 scaling solution Metis aims to become Ethereum's first decentralized Layer 2 infrastructure, empowering its community to take over key centralized components of the network. Currently, Layer 2 networks introduce elements of centralization, such as relying on single sequencers controlled by the projects’ teams. A sequencer is a component of Layer 2 networks that orders and batches multiple off-chain transactions before submitting them to the Ethereum blockchain.

To achieve full decentralization over time, Layer 2s must address these centralization risks, Metis co-founder Elena Sinelnikova told The Block in a recent interview. "One way to do this is by introducing multiple sequencers and relinquishing control to the broader community," Sinelnikova said. "However, it's imperative that this transition is carried out in a safe, secure and well-planned manner." Metis has an ambitious target of implementing such decentralization by the end of the year. By empowering the community to take control over a pool of decentralized sequencers, Metis aims to demonstrate it's possible to maintain the benefits of Layer 2 scalability while reducing centralization risks, Sinelnikova said. Additionally, it involves posting full transaction data to Ethereum, transitioning the Metis Layer 2 back to a classic Optimistic Rollup. fullstory

By: TOGRP

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