Layer 2 learnings by Ethereum Magicians

Takeaways from out Layer 2 sessions are finally live! We are rolling out the key learnings and takeaways from The Ethereum L2 Future series.

The main takeaways and learnings from Starting with L2 session

The Main takeaways and learnings from Developers L2 session

  • Costly transactions are not sustainable for users
  • dApps are designed for single-chain world using traditional browser with MetaMask
  • Loss of composability between smart contract systems
  • Fragmentation of service and development infrastructure
  • Delays for users
  • How to inspect and connect to L2 nodes
  • Polkadot and Cosmos are preparing us for multi-chain
  • From UX standpoint, swapping networks in MetaMask isn’t going to work
  • A big problem is no standard interface for communicating across contracts
  • The mechanism for cross-L2 action is the issue. Linking across systems requires a deposit / liquidity.
  • Tokenization as an encapsulation of functionality is a big opportunity
  • Tokenization is a UX technology. Settlement as an explicit token.
  1. Sufficient liquidity provision,
  2. Convenient running/operating nodes,
  3. Standardization of conditional transfers
  • Wallet infrastructure is seen as crucial to a seamless use of L2s by users. This requires improvements to JSON-RPC, universal use of JSON-RPC by all networks.
  1. Adoption and standardization of JSON-RPC,
  2. Universal use of Chain ID,
  3. Mapping accounts and signatures across chains
  • Accounts are not addresses. Accounts are the conjunction of chain ID and addresses.
  • Cross-Chain Improvement Proposals can enable standards to apply to all chains
  • “Business Models” can also solve L2-related problems: Miner extractable value, commercial services building their own L2s, privacy-preserving data mining

The main takeaways and learnings from the User Experience on L2 session

  • ENS supporting L2s
  • Wallets needs to integrate build in L2 chain support
  • Layers on Ethereum should be more hidden so the end user won’t notice which chain is he using to interact with Ethereum
  • DAI to xDAI transfers are more difficult than ETH to DAI, FIAT on-ramps helped a lot
  • FIAT to xDAI on-ramp was created by users
  • Give users hot wallet is necessary investment for the “AHA moment”
  • User experience is just as important as the developer experience
  • Pseudo-MetaMask wallet with some ETH and DAI pre-filled would solve many user on-boarding headaches

Bottom line

Stay Magical ✨

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