Skip to content
Home ยป Ethereum’s New L2 Focus on Security

Ethereum’s New L2 Focus on Security

Ethereum's New L2 Launches Focusing on Security

The Scroll has its own EVM, making it capable of interacting with smart contracts.

Ethereum’s New L2 Focus on Security. According to its developers, the Scroll is a development with years of experimentation and audits by reputable companies. Scroll’s mainnet became available to the public this Tuesday, October 17, adding a new option to Ethereum’s list of second-layer networks. Scroll hardens the security-centric approach using zero-knowledge (zero knowledge or ZK) proofs.

According to the official announcement from Scroll’s development team, the network, its bridge (to interact with other networks), and its respective roll-up (a tool to group transactions and make them cheaper to register on Ethereum’s mainnet) were audited by several companies. Among these, they mention Open Zeppelin and Zellic. In addition, Trail of Bits and Kalos participated in audits of Scroll’s zkEVM (ZK proof-of-concept Ethereum virtual machine) circuits.

They also detail that the project has been in the works for more than two years, with stages of experimentation in three test networks that, in cases such as the Sepolia network, involved the participation of more than 900,000 addresses. In that time, more than 450,000 Smart Contract implementations and more than 90 million transactions were generated, with an average of 305,000 daily transactions. More than 9 million blocks were produced during Scroll’s testing in its test networks, leading to more than 280,000 ZK tests.

Having its version of the EVM, Scroll is an L2 capable of interacting with smart contracts. Of course, it is compatible with Ethereum and inherits its security once transactions register on the mainnet of this “mother” network. Some activity developed in the Scroll network, even before the developer team’s official announcement. These actions are likely from “airdrop hunters” who aim to become early adopters of the project, hoping for their selection for future token distribution. This strategy has been successful on other second-layer networks like Arbitrum and Optimism.

ZK developments grow on Ethereum

Scalability solutions based on zero-knowledge (ZK) proofs have the unique feature of proving the validity of information without revealing it. In other words, they can demonstrate that transactions are valid without disclosing specific details. ZK tests will be critical in future Ethereum developments for many developers and experts. In addition to ensuring greater security for applications developed on this network, it will allow greater scalability and more efficient resource use.

With ZK-based and optimistic second layers, Ethereum adds more possibilities for growth and scalability. According to data from the site, there are already more than three dozen second-layer networks, with a total blocked value (funds deposited in their smart contracts) of more than $10 billion.

What is a Layer2 solution?

A blockchain layer2 solution builds upon a blockchain network like Ethereum. These solutions address the network’s scalability limitations and improve its efficiency, security, and speed. “Layer 2” relates to a second layer of technology that operates on top of the blockchain network to perform specific functions. One of the main benefits of layer2 solutions is that they enable developers to build decentralized applications (dApps) that can handle much larger transactions than the underlying blockchain network. You get more capacity by moving some transaction processing off the main blockchain and onto the layer2 solution.

Layer 2 solutions come in different forms, but they all share the same objective of helping to scale the blockchain network. The most popular layer2 solutions include sidechains, state channels, and rollups. Sidechains are separate blockchain networks that are interoperable with the main blockchain. A sidechain allows developers to build and deploy dApps on a different network and move assets between the main blockchain and the sidechain.

State channels provide a layer2 solution that allows users to carry out off-chain transactions without requiring verification from the main blockchain. These transactions add to the blockchain when the channel closes, making them faster and less expensive. Rollups, the latest addition to the layer2 landscape, bundle multiple transactions together and submit them to the main blockchain as a single transaction. This method decreases the number of transactions the system needs to process by the leading blockchain, making it more scalable.

Leave a Reply