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A key point I picked up from @VitalikButerin& #39;s presentation was that there should be an ecosystem-wide push towards L2 to reduce Ethereum congestion. This starts at the top with wallets like @imTokenOfficial @ethstatus and @metamask_io plugging into L2’s to improve user adoption.
But before getting into that, it’s good to address how each scaling solution comes with its own trade-offs. E.g: while EVM compatible L2’s are better for smart contracts, @omgnetworkhq plasma is optimized for payments TODAY with its high throughput and low-cost transfer fees.
In reference to previous tweet: https://omg.network/reduce-crypto-exchange-fees-omg-network/">https://omg.network/reduce-cr...
We are already working towards Ethereum’s goal of reducing rootchain load with a fast + cheap + secure network. @bitfinex integration is done, there’s 3 million @tether_usdt on the Network, and we’re also integrating with more exchanges to reduce the gas fees on Ethereum.
icymi:
https://omg.network/ethereum-congestion-tether-omg-network/">https://omg.network/ethereum-... https://omg.network/bitfinex-usdt-tether-integration-omg-network/">https://omg.network/bitfinex-...
https://omg.network/ethereum-congestion-tether-omg-network/">https://omg.network/ethereum-... https://omg.network/bitfinex-usdt-tether-integration-omg-network/">https://omg.network/bitfinex-...
Also, there& #39;s not enough space here to correct errors about the OMG project made by @maticnetwork and @xdai in their charts/tweets. But we’ve got plenty of educational material for you to read at http://omg.network"> http://omg.network and our documentation site. P.S. We’re (actually) trustless.
+ these links to back that up:
https://docs.omg.network"> https://docs.omg.network
https://omg.network/why-trustlessness-is-the-key-to-enterprise-adoption-of-the-omg-network/">https://omg.network/why-trust...
https://omg.network/smart-contract-audit-omisego/">https://omg.network/smart-con...
https://docs.omg.network"> https://docs.omg.network
https://omg.network/why-trustlessness-is-the-key-to-enterprise-adoption-of-the-omg-network/">https://omg.network/why-trust...
https://omg.network/smart-contract-audit-omisego/">https://omg.network/smart-con...
OMG Network is the best at simple payments and transfers, but going back to @VitalikButerin& #39;s point of improving UI/UX for L2 users -- one way to go about it is for L2 service providers to work together on standardized exchange wallet integration plug-ins.
We’d like to work with the plasma, zk, and optimistic rollup families to make this happen! Catch @kasima on the @golemproject L2 panel on October 20th to learn more.
