Bridging Both Ways to Ethereum and L2s with t3rn and Attesters.

Summary:

🛣️ 11 Best Ethereum Layer 2 Solutions for 2024: Technical Overview and Tokenomics.

🤝 Blockchain Consensus Algorithms: How Market Makers and Liquidity Providers Benefit.

🌉 Bridging the gap between Ethereum and Layer 2s with t3rn.

Tech Update

🌉 Bridging the gap between Ethereum and Layer 2s with t3rn

1. The EVM <=> L2s Flow

In the rapidly evolving landscape of blockchain technology, the interaction between Ethereum Virtual Machine (EVM) and Layer 2 solutions (L2s) is becoming increasingly sophisticated. At the core of this interaction lies the user's ability to submit orders to the source L2 chain.

remoteOrder::order

For t3rn, this process initiates a competitive environment where executors bid for the execution of these orders.

The planned migration of certain functionalities to the t3rn parachain is a significant development. This shift aims at cost-optimization, enhancing the efficiency of order fulfillment. Executors play a pivotal role by fulfilling orders either through monetary transactions or by executing destination contract calls.

Apply to become an Executor:

Current L2 networks of Ethereum where we conduct cross-chain execution include:

• Sepolia (Ethereum’s Testnet)

• Optimism Sepolia

• Base Sepolia

• Binance Testnet

• Arbitrum Sepolia

• Scroll Sepolia

The role of Attesters is crucial in aggregating attestations. Their work, along with executors' efforts in claiming rewards on the order source, is set to transition to the t3rn parachain. This transition not only streamlines the process but also lays the foundation for a more robust and efficient blockchain ecosystem.

To learn more about the vital role of Attesters and how they contribute to the blockchain network, I encourage you to read the detailed blog post:

2. Community Involvement and Network Statistics

As we step into the new year, there's an exciting opportunity for community engagement, democratizing the arbitrage market. This initiative will distribute market-making responsibilities among community members, fostering a more inclusive and decentralized environment.

To provide a clearer picture, we'll present network statistics, including gas usage, transaction confirmations, and the total number of transactions sent. These metrics offer valuable insights into the network's performance, highlighting areas of efficiency and potential improvement.

3. t0rn and t3rn integration

A notable advancement is the integration of t0rn and t3rn main nets under EVM RPC using pallet Ethereum. This integration is a technical leap forward, enabling these platforms to seamlessly join the deal flow. It marks a significant step in the journey towards true blockchain interoperability and opens up new possibilities for cross-chain transactions and decentralized applications.

Looking ahead, this integration is poised to redefine the boundaries of blockchain technology, offering unprecedented flexibility and opportunities for developers and individuals interested in bridging assets across various blockchain platforms.

4. 3D Orders: A Liquidity Solution

3D, or Dynamic Destination Deal, significantly enhances the user experience in the t3rn ecosystem by simplifying the process of asset bridging. It eliminates the need for XCM relaying, allowing assets to be swapped directly from the user's wallet on any integrated network. This introduction marks a revolutionary stride in addressing liquidity challenges within the t3rn ecosystem, offering a novel approach to asset liquidity and transforming how assets are brought from target chains to t3rn.

A key innovation of 3D is the conversion of the insurance policy into a more manageable finality fee, charged in the native TRN asset. This shift enables the use of assets from remote chains as a means of liquidity exchange within the t3rn ecosystem, making the need for extensive insurance covering all orders in the XTX model obsolete for remote orders like 3D.

5. The Novel Nature of 3D

3D stands out for its ability to allow assets from various chains to be used directly as rewards for orders, bypassing the need to bridge assets to t3rn first. This not only simplifies the process but also opens up new avenues for asset utilization. For example, swapping DOT for ETH no longer requires a two-step process involving t3rn but can be done directly from a user’s wallet on Polkadot.

In essence, 3D represents a leap forward in blockchain interoperability and liquidity management. It's not just a tool; it's a paradigm shift in how we approach asset transactions across multiple chains.

Conclusion

As we continue to navigate the ever-evolving blockchain landscape, solutions like 3D and the integration of t3rn with EVM and L2s are paving the way for a more interconnected multichain future. These developments are not just technical achievements; they are stepping stones towards a more inclusive, decentralized, and user-friendly blockchain ecosystem.

Stay tuned for more updates in the next edition of "Multichain Matters”.