Any idea what this VMPX token that's picking up activity in the network?
https://etherscan.io/token/0xb48eb8368c9c6e9b0734de1ef4ceb9f484b80b9c
this post was submitted on 03 Jul 2023
19 points (95.2% liked)
ethfinance
33 readers
1 users here now
A community for investors, traders, users, developers, and others to discuss Ethereum and its cryptocurrency ETH. Join us on Discord, too! https://discord.gg/evmavericks
founded 1 year ago
https://dba.mirror.xyz/LYUb_Y2huJhNUw_z8ltqui2d6KY8Fc3t_cnSE9rDL_o
some light sunday morning reading about how what you thought you knew about rollups is probably not entirely true
The author makes a lot of points that have little practical impact.
I mean, sure, a rollup could hardfork. But it would wipe out the value of any assets that were bridged into the old version of the rollup from the parent chain. What would Optimism or Arbitrum be if all the previously bridged eth and usdc was now stuck on a version of the rollup that was dead? There's no point.
The same thing is true regarding his point about 'rollups' that don't do any on chain validation (zk or optimistic fault proofs). Sure, you could post all your rollup blocks into 4844 blobs and only verify them off chain if you want. But if you want to bridge any assets back and forth, having on chain validation or fault proving of the rollup adds a ton of extra security to that process.
The other thing that he misses on is the idea of one way bridges that burn the asset in the original chain. Such an approach just makes for worthless assets on the rollup. If the original asset can't ever be withdrawn and redeemed, it is effectively worthless. So, again, it would be pointless.
Anyway, I found myself realizing about 1/3 of the way through that the author isn't technically wrong about anything, but is still really missing the point.
Continue to send it bois
Updoot the weekly you damn savages!
Ethereum!
updoot it yourself you degenerate!
load more comments
(7 replies)