Eric's talk on rollup security is happening now 🎊 You can watch the talk on our livestream youtube.com/watch?v=35_rr8
Read on for live tweets of the highlights 👇
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Eric was hyped for a multi-chain future where Bitcoin sat at the centre, with many sidechains connected to it to push innovation, which is what happened with smart contract platforms. However, that never materialized.
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In 2019, rollups entered the scene. The powerful part of rollups is that they don’t need to validate the rollup. They only need to look at the fraud or validity proofs to ensure the system is safe. This was a missing piece of proposed Bitcoin drivechains.
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There’s so many things that can be done with rollups. You can experiment with completely new VMs, the sequencing logic, the fee logic, and MEV. Combinations of zk-rollups and optimistic rollups could be made. It opens up a whole new paradigm for innovation and experimentation.
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Funding public development of Bitcoin has been difficult. Optimism used their position as a centralized sequencer to commit profits to fund development of public goods in the Ethereum ecosystem.
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Rollups can create an entirely new VM that is more efficient because only fraud or validity proofs are required to prove correctness. Fuel runs smart contracts using a UTXO data model which allows for parallel transaction. This creates Solana-type efficiency inside a rollup.
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Sovereign rollups and settlement rollups have different features on Celestia. Sovereign rollups can hard fork and change the rules without permission from any other community.
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Settlement rollups share an execution environment where many different types of rollups can settle their fraud or validity proofs. All the rollups are tied to the security of the settlement rollup.
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