LONDON, Aug. 16, 2021 /PRNewswire/ — Huobi Research Institute, the leading blockchain application research team, published the latest research report on Rollups of Layer 2: “An in-depth look at Rollup’s tech, application, and data“.
The striking upsurge of DeFi that broke out in 2020 has brought a tremendous amount of activity volume for Ethereum, and induced a scalability problem. Gas Price in Ethereum has soared and remained above 100 Gwei, which is one of the public chains with the largest ecosystems. As a result, Ethereum is criticized as “the Noble Chain”. Although the Gas Price of Ethereum decreased in recent weeks, the inefficient problem caused by redundant storage and computing still exists. Currently, Rollups is undoubtedly the most outstanding among various Layer2 solutions.
Main Content of the report
Looking at history, Huobi Research Institute found Rollups inherits the design concept from other pioneers (e.g., Lightning Network, Plasma etc.). However, the difference between Rollups and other scaling solutions is the idea of storing off-chain data back to on-chain, which was the key to solving the problems of data availability, usability, and security.
Through the report, the team mainly focus on 4 Rollups development teams including Matter Labs, Optimism, Offchain Labs and Starkware. They have made great efforts to develop different types of Rollup Solutions, including ZK Rollups, Optimistic Rollups, and hybrids of the former two. In addition to technical solutions designers, many teams are also exploring applications containing key features of Rollups, such as Layer2.finance, Caspian and Dai Bridge. We will also make an in-depth analysis of each protocol.
According to the performance of data, Huobi Research Institute found the total value locked (TVL) in Layer 2 is less than 3% of DeFi. Rollups account for near 1/3 of all Layer 2 solutions due to most of them have not yet been widely implemented. At present, Optimistic Rollup is about to launch, hopefully raising Ethereum’s Transactions Per Second (TPS) up to 500. The launch of a general ZK Rollup solution still takes time, which is expected to raise tps up to 100x. Meanwhile, some hybrid Rollups could improve a theoretical tps up to 20k
In summary, the team believe Layer2 is the necessary path to public chain development. While Rollups, currently makes the best trade-off among usability, security, scalability and universality among all Layer2 solutions. We are looking forward to witnessing the brilliant future of Rollups.
About Huobi Research Institute
Huobi Blockchain Application Research Institute (referred to as “Huobi Research Institute”) was established in April 2016. Since March 2018, it has been committed to comprehensively expanding the research and exploration of various fields of blockchain. As the research object, the research goal is to accelerate the research and development of blockchain technology, promote the application of blockchain industry, and promote the ecological optimization of the blockchain industry. The main research content includes industry trends, technology paths, application innovations in the blockchain field, Model exploration, etc. Based on the principles of public welfare, rigor and innovation, Huobi Research Institute will carry out extensive and in-depth cooperation with governments, enterprises, universities and other institutions through various forms to build a research platform covering the complete industrial chain of the blockchain. Industry professionals provide a solid theoretical basis and trend judgments to promote the healthy and sustainable development of the entire blockchain industry.
For more details, please visit: https://huobiresearch.medium.com/an-in-depth-look-at-rollups-tech-application-and-data-eb8f91bf369b.
Contact Huobi Research Institute:
Consulting email: huobiresearch@huobi.com
Official website: https://research.huochaintech.com/
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