A few weeks ago Ethereum have upgraded to proto-dank-sharding to improve "scaling" and there is a continuous back and forth with Solana.
Now we see, that even an L2 like base, which is fairly centralised (as are the others), is not scaling. It is actually slow. With the current conditions there will be a need for L3/L4 and on.
Most of the people just do not understand how inefficient the created architecture is and that it will not scale. Actually we see it, how everything is already full. We see L2s stopping, we see congestions, base fees goes up, and >10% of block slots are missed. When in top of that you add modularity, you make this even a bigger clusterf. Modularity maxis will never speak about time to finality, time to synchronise, time to recover.
I get the need for appChains, as they want to run custom code, custom gas, custom VM, separate validators, new economics. But L2s right now are not appchain, and they are centralised as well.
In a well designed monolithic chain, you have every interaction optimised between modules. And yes you have multiple different modules acting in parallel, like P2P, storage, trie, cache, processing, signature verification and validation. And every such component is optimised to work in unison and to actually scale.
#MultiversX is capable of executing right now all the TXs from all the L2s + ETH L1 with ease. Actually even one #SovereignChain can do more.
If you want scaling, what you actually should, build on MultiversX.
$EGLD and @xExchangeApp data is now being tracked on @dexscreener 🦅
Making #MultiversX real-time trading data available on one of the most visited crypto websites, for users to create price alerts, watchlists and multichart views for ecosystem tokens.
https://t.co/LilPnTHGOz
The SovereignChain is an SDK built by the #MultiversX team (me included) and is getting constant updates.
We have teams (independent projects) building on SovereignChain SDK and adding EVM to it, other teams building IBC module. Buildly, OneFinity, MidasChain, AshPerps, they did not launch it yet.
The vision is to have a set of lego like components and the DAO/Company/entity who deploys a new SovereignChain can choose which components he needs. The components are not only multiVMs, but rollup technology as well which fits the destination chain/chains.
It also has interesting features like gassLess transactions, secp256r1 crypto curve (can be used through smartphone passkeys), on-chain guardians, multi VM.
In terms of speed and stability, it inherits the code from the mainnet and has upgrades to make it more customisable, reaching >30TPS at the current moment. But we have some surprises on TPS as well, to be shared later after stabilising.
More chains, more tokens, more opportunities 🤩
The time has come to welcome Binance Smart Chain to the #xPortal mix.
Read more about the integration in our latest blog post 👇
https://t.co/ESqb1XI9aj
Connect with Ledger to core apps: up and running again ✅
The affected Ledger library wasn’t used for our products, meaning that users were never at risk.
Nonetheless, we’ve taken a proactive approach until the root cause has been dealt with.
Ledger’s wallet connect library has been reportedly compromised.
MultiversX is not affected!
Still, proactively, we have disabled the Ledger connect option on the core apps while we continue to investigate.
In the interim, as a precautionary measure, don’t interact with dApps (on any blockchain) until further notice.
Stay safe!
On-chain #EGLD staking is now live in the @cryptocom app 🔥
A new and convenient pathway for millions of users to secure the #MultiversX Network and earn rewards.