jakiro
After the upgrade of Ethereum Fusaka, due to the adoption of EIP-7918 (the lowest reserve price for blob fees, about 1/16 of the basic execution fee), there is a guaranteed price mechanism, and many friends think that the problem of ETH value capture can be solved.
In fact, there is still a long way to go.At present, L2 still captures most of the profits, such as base, which obtains more than 70% and only pays a small amount of blob fees to Ethereum L1.
To truly solve this problem and also solve the problem of L2 liquidity split, there are actually no solutions. One of the solutions is Based Rollup, that is, let L2 directly inherit the existing decentralization, economic security and activity of Ethereum L1, instead of re-creating a centralized sequencer or small validator set.If Native Rollup (execution layer integration) is added later, it will be even more perfect.
The use of Based Rollup can alleviate two important current problems in the Ethereum ecosystem: liquidity split and ETH value capture.Currently, most L2 uses centralized sorters.This resulted in Sequencer being able to refuse packaged transactions; downtime caused L2 to be shut down (which has happened many times in history); MEV and profits were monopolized by the L2 team, and ETH was unable to capture reasonable value.
With Based Rollup, L2 can be pushed towards decentralization. Traditional L2 needs to be decentralized, such as developing its own fraud/validity proof + decentralized sequencer system, which is very complicated.Based Rollup allows the L1 proposer to sort transactions, and the proof is supported by DA+ fraud/validity proof.At the same time, all Based Rollup transactions are sequenced within the same L1 block, achieving cross-L2 interoperability and alleviating the liquidity split problem; ETH of Ethereum L1 captures reasonable income, and most of the L2 sequencer profits become the income of the L1 block builders, which are converted into rewards for ETH pledgers.The premise here is that L2 needs to be willing to adopt Based Rollup. At present, most L2s are unwilling to give up the most profitable part.
Now the L2 application chain Reya uses ZK proof to ensure finality and L1 validator/delegation ordering, and 20% of the protocol/transaction fee is used to buy back ETH.Its ecological feedback for Ethereum L1 is more friendly than Lighter.If Reya is successful, more and more L2 application chains will adopt the Rollup-based architecture, which will facilitate ETH value capture.
