OP Labs CEO shares insights on Optimistic Rollups vs ZK Rollups
Optimism Weekly Overview - August 20, 2024
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Superchain Ecosystem Numbers
DeFi total value locked (TVL) across Superchain: $2.65B (+4.9%)
Assets onchain: $12.69B (-2.7%)
Daily average transaction volume: 5.06M (+5.2%)
Fraxtal: 12.21K (+64.11%)
Mode: 87.70K (-33.79%)
Base: 3.98M (+12.11%)
Zora: 104.15K (-3.57%)
Redstone: 31.45K (+104.62%)
OP Mainnet: 479.61K (-11.45%)
Kroma: 106.22K (-49.57%)
Revenue-generating deployers on:
Base: 5,081 (-4.74%)
Zora: 175 (+1.74%)
OP Mainnet: 1,096 (+0.37%)
Superchains: 5,806 (-4.13%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 3,371 ETH
Base: 13,483 ETH
Zora: 644 ETH
Compared to Ethereum, L2 Superchain users saved a total of 17,498 ETH, or $45.8M on txn fees this week.
The percentages and metrics are pulled from OPLabs data on Dune and are calculated from its change over a 7-day time frame, unless noted otherwise.
Spotlight on Optimism’s Superchain
⚡What’s happening: The ultimate goal for layer-2 blockchains is to scale Ethereum and bring users together — for both the Optimistic and ZK rollup communities, Karl Floersch, Optimism co-founder and OP Labs CEO, said last week during Token Relations’ Superchain quarterly webinar.
⚡Why it matters: Blockchain technology is becoming increasingly advanced as teams continue to innovate and more attention is focused on making systems and rollups more user friendly.
The chains within the Superchain are built on the OP Stack, which uses Optimistic Rollups. These differ from other layer-2 blockchains that use ZK-rollups as Optimistic Rollups operate on the premise that transactions are valid, unless proven otherwise. ZK-rollups are on the other side of the spectrum: all transactions are false unless they’re proven as valid.
“Fault proofs are production ready, easier to reason, don’t rely on intense cryptography and are more performant” Floersch said. “This is why OP Labs took the first stab with fault proofs and are rolling out with that system.”
Fault proofs, which detect invalid transactions, also offer more security, lower latency and scalable block space. However, that doesn’t automatically erase the possibility of Optimism implementing zero-knowledge (ZK) proofs.
Although ZK proofs are promising and offer useful properties such as lower latency bridging and better theoretical security, they are “not as performative” because they “need more proofs” and more “lindy-ness”, Floersch noted.
Although there’s plenty of rollups in the L2 space, there’s a strong interest from the OP Labs team to implement ZK proofs in the future. Solutions such as RISC Zero, Succinct, and O1 Labs are currently using ZK technology to prove the OP Stack.
“We don’t want to choose either or; we want to layer proofs together, layer multiple fault proofs together, just like layering multiple sensors on an airplane,” Floersch said. “Then, we will layer multiple ZK proofs together… We need to get to a point where we’re iterating on it, improving on it, getting the cost down.”
⚡What it means for the broader ecosystem: The OP Labs team is building with the goal of creating better user value and focusing on that instead of “one or the other.”
As a result, the whole ecosystem can grow and OP Stack would not be singled out against one rollup or another, but rather be a part of a bigger multi-proof system, Floersch noted.
What’s poppin’ on the Superchain
👤Total number of weekly active addresses by chain:
Base: 4M
OP Mainnet: 294.92K
Zora: 140.03K
Mode Network: 23.41K
Kroma Network, a game-centric chain built on the OP Stack, partnered with web3 game Nemesis Downfall
OP Labs proposed the “Granite” network upgrade to revert the protocol back to permissioned operations on OP Mainnet
Across Protocol integrated cross-chain bridging across Redstone and other networks
OnchainKit released its playground feature to provide users an interactive way to try out its Base dApp building platform
Optimism teased a post about The SUNNYs, a Superchain celebration
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
Onchain Summit SF live streamed its demo day that showcased projects building on Base, as well as a discussion featuring Base Creator Jesse Pollak
X user DewhalesCapital posted a thread that dove into the Mode Network and its ecosystem builders
Retro Funding 5 applications open up in a couple days – X user hash1go_ created a post to highlight its key features
Making headlines
Optimism co-founder says Superchain is making "fast progress" toward decentralization (Talking Tokens)
Chainlink's Data Streams and VRF are now live on Base (The Block)
Optimism’s Superchain: What It Is and How Conduit Supports Its Blockchain Scalability Vision (Conduit Blog)
Optimism Plans Hard Fork to Fix Vulnerability, TVL Soars Nearly $6 Million (BeInCrypto)
Get into the OP Stack
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
Take part in Mint Blockchain’s Season 2 for its experiential NFT campaign: Hidden Oasis
SERA is hosting its space summer event as part of Onchain Summer to send six community members to space
Retro Public Goods Funding Round 5 applications start this Thursday – check out the details and listen in on how 30 guest voters will be selected
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This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.
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