jakiro
Author: Hart Lambur Source: X, @hal2001 Translation: Shan Oppa, Bitchain Vision
This week I’m happy to invite @VitalikButerin to have a tea talk.We discuss “intention” and how to unify Ethereum through the standards of chain-specific addresses and cross-chain intent (i.e. ERC-7683).
This time of communicating with V has inspired some new thoughts on why intentions are the right direction for cross-chain interoperability.Here are a few key points:
Ethereum has solved the scalability problem
We didn’t celebrate it enough.In 2020, Ethereum transaction fees tend to be as high as hundreds of dollars.And this year, after the Dencun upgrade, L2 (Layer 2) became extremely cheap – the transaction cost was almost at the centre level.The experience of using any single L2 is already comparable to Solana, and scaling is simply a matter of adding more L2 or L3.
Ethereum is now fragmented
Solving scalability issues has led to Ethereum becoming fragmented.If we want to solve this problem, users need a seamless and fast experience when crossing the chain.The next billion Ethereum users can’t stand a few minutes of waiting time to access popular L2 applications, games, social platforms, and more.Interoperability requires an experience of less than 2 seconds.
Intent to unify Ethereum
Currently, the intention is the only solution that can provide a 2-second user experience between L2.Intent protocols like Across have implemented the median fill time for L2-to-L2 transactions of 3 seconds and the transaction amount is below $10,000 – which covers 99% of L2 cross-chain transactions.Intent to make the experience of using hundreds of L2s feel like a “unified Ethereum”.
Standards are important
I don’t think you can solve the interoperability of public products like Ethereum through solutions that require vendor lock-in or centralized infrastructure.We need mechanisms like intent, relying on common standards that allow protocols to compete with each other while providing the best user experience, without single point of failure.
Because of this, @AcrossProtocol is working with @Uniswap, @Optimism and other L2 ecosystems (look for a while) to develop the ERC-7683 standard, the standard for cross-chain intent.Intent agreements such as @NekoDEX, @OneBalance_, @rhinestonewtf and @RouterProtocol are also contributing to the draft ERC standard.
Summarize
L2 expands Ethereum well, but destroys the user experience; users can’t stand waiting for a few minutes to use the new chain; what you need is a user experience within 2 seconds; intent to solve this problem and unify Ethereum; openStandards are crucial!
