Rollups are the most exciting layer2 solutions these days. ZK Rollups and Optimistic Rollups solve the existing huge layer2 problem called “data availability”.
This may be an interesting post if you want to know “data availability” problem.
So, what are the benefits of Rollups?
- Flexibility in generalized Computation (Turing-complete / EVM compatible)
- Increase in scalability (200 to 2000 transactions-per-second (tps) vs Ethereum layer 1’s current 10 tps)
- All Data is available on-chain (no need to trust off-chain data providers)
- Better UX
- Reduced fees per user transfer
- Faster than Optimistic Rollup
- Blocks will be computed in a parallel computing model which encourages decentralization
- Less data contained in each transaction increases throughput and scalability of layer 2
- Does not require a fraud game verification like Optimistic Rollup, which can delay withdrawals by up to two weeks
Why Rollups on Polkadot?
Polkadot is scalable since Polkadot has a sharding ish architecture once Parachains are connected. So, why we need scaling solutions like Rollups on Polkadot? We have at least 2 big reasons today.
Horizontal scalability is different from vertical scalability. Polkadot has the former scalability but it doesn’t have the latter one. Hence, generally speaking, Parachain needs to be a blockchain based on Substrate framework. A Rollup application is different from a Parachain since layer2 application doesn’t need to be a “blockchain” from day1.
We assume that many Ethereum projects will use Rollups in the coming months and they can easily migrate from Ethereum to Plasm.
If we define ETH2.0 as “ETH1.0 + sharding (+ Rollups)”, we are making ETH2.0 on Polkadot.