Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

EVM equivalence makes the definition of L1 or L2 less important because it’s all “just” Ethereum.

The EVM equivalent has helped the Ethereum second-layer Rollup ecosystem “evolve” into an adaptable and responsive layer that will unlock the next phase of Ethereum.

The DeFi Summer of 2020 hit the limits of Ethereum’s scale. Since then, the network effects of EVM have diverged in many different directions. The new L1, and even many L2s, break the EVM standard to break performance bottlenecks.

But now, the era of EVM equivalence has arrived, a new and innovative Cambrian explosion is coming, and we only need EVM equivalence to unlock it.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

What is the EVM equivalent

EVM equivalence is fully consistent with the specification of EVM. The equivalent design concept of EVM is to build an Optimistic Rollup based on Ethereum’s “minimum dif”.

EVM equivalently extends the properties of Ethereum to its L2. It blurs the line between Ethereum L1 stop and L2 Rollup start. This is the difference between “scaling on Ethereum” and “scaling on Ethereum itself”.

Optimistic Rollup, a perfect clone of the EVM, shares not just the security level of the Ethereum mainnet, but virtually every aspect of its network effects. While other L2 design structures do not have the privilege of accessing all of Ethereum’s network effects.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

EVM compatibility is inflexible. Either optimize for generality by adhering to the Ethereum standard (so choose the same standard as everyone else), or build something completely different, optimized for your use case (e.g. ZK-rollups).

To extend the full power of Ethereum to L2, we need more than EVM compatibility. What we need is the EVM equivalent.

Compatible and Equivalent

When the Optimism team introduced EVM equivalence last year, they described the technical differences between equivalence and compatibility.

Rollups are hailed as scaling saviours because we can run Uniswap on them. But the earliest rollups were implemented by completely recreating Uniswap with custom code on top of a custom rollup. This is obviously not a good enough solution.

The network effects of EVM go far beyond Solidity. A large number of auxiliary tools bring super power to Ethereum developers. Because these tools also operate on the EVM standard, they address the cumbersome need to rebuild entirely new proprietary code. With the support of EVM equivalence, we can reconstruct an existing application on one layer by simply copying and pasting.

EVM is a city

“Open source code is like a city. It was created from the bottom up, with contributions from many developers who saw a problem and built a solution. Over time, the city will become stronger and Efficient. Simply put, the EVM chain is like recreating Paris in Las Vegas, another piece of land that recreates the existing prosperity.”

Open source software is a public product maintained and upgraded by its respective community.

Developers using open source software encounter all kinds of problems with their use, and some developers take the time to fix them and then lobby the community to accept their research. If the community deems it valuable, then their contributions are merged. A new standard is created, and the utility and robustness of the software will increase accordingly.

Like a burgeoning city, builders come to produce what the surrounding community needs and values. Shared resources and utilities are produced, and since it’s code, it never decays. This is a one-way street for value growth as long as everyone works together. Each developer builds in their own direction and discovers their specific contribution to the collective. Over time, the combined contributions of thousands of developers will shape a highly robust public good.

Geth is a great example of a powerful application built by absorbing meaningful contributions from Ethereum developers.

EVM Squad

A concept is introduced here, a “cycling team” is a team of road cyclists. Cyclists in the group save energy by riding behind other cyclists. Riding in a sufficiently experienced team, the drag experienced by the rider can be reduced to 5%-10%.

In other words, if you want to run faster in a short amount of time, go it alone. But if you want to go further, go together.

The larger the team, the higher the efficiency and speed. Air resistance will be distributed over a larger group. As the size of the group increases, so does the efficiency of the group. Being in the middle of the team is basically a no-brainer. The leader of the squad needs to be rotated frequently, because the leader bears all the resistance of the headwind. After those with more physical reserves change to the leader position, the speed of the entire team will remain at a high level.

Open source communities are bound to grow faster than individuals or small centralized teams. The reason we’re in an industry that’s growing so fast is because it’s a collaborative flywheel. We build on each other’s successes, and when one of us moves into the cutting edge, they bring us all into it.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

EVM equivalence is a city-like public good that emerges from the bottom up. On the other hand, EVM compatibility is a one-time copy. There are countless different ways to deviate from the EVM, but only one way to follow it.

Duplicate the application layer

Making an L2 ecosystem comparable to the EVM is critical to preserving the network effects of composability and interoperability.

The EVM equivalent of Rollup allows instant copy+paste of codebases across chains. Development and innovation on a single EVM-equivalent rollup can be seamlessly transferred to any other EVM-equivalent ORU, as well as to Ethereum itself. Since everything is developed on the EVM standard, the network effects of L1 are extended to L2, and innovations on L2 reverberate throughout the ecosystem.

If you are an open source developer and you want your code to be widely used, you will naturally want to use the EVM equivalent ORU, because your code is immediately compatible with all other EVM equivalent ORUs. If you only write the code once, but it works seamlessly on 1000 compatible chains, then the value you just generated will be far greater.

EVM equivalence takes EVM network effects to a whole new level.

Non-EVM-equivalent ORUs will not benefit from these shared network effects because non-EVM-equivalent ORUs do not satisfy the “minimum Dif” design philosophy. The waves of Ethereum network effects are compounded by each new EVM-equivalent ORU. If you are not surfing this wave, you will have to swim hard to catch up.

replication protocol layer

These EVM network effects don’t just apply to Ethereum’s application layer, they also apply to the protocol layer itself.

Because the ORUs equivalent to EVMs differ very little from Ethereum, they provide Ethereum with a testbed for new EIPs in a real production environment.

Right now, EIPs are tested with the Ethereum testnet. The EIPs were tested multiple times on the testnet to ensure there were no issues when it was finally integrated into Ethereum L1. And that’s always risky, because testnets and Ethereum don’t “minimize the Dif”. Implementing an EIP in Goerli or Koven is not the same as implementing an EIP in Ethereum. The difference is that the scale and importance of economic activity on Ethereum cannot be imitated by testnets. When implementing EIPs in Ethereum, there is always something “unknown”.

The EVM equivalent provides a new solution.

When an EIP is successfully implemented on an EVM-equivalent ORU, it provides a strong guarantee to the underlying chain that the same EIP can be successfully integrated without errors. The EVM equivalent ORU provides a live production environment with real economic activity and real capital for EIP testing. EIPs can be tested at the ORU layer without the risk of something breaking and affecting other parts of the overall system.

When L2 generally adopts the same EIP, it signals to Ethereum L1 that it is needed by the community and that it can be safely integrated into L1.

The EVM-equivalent ORU enables Ethereum to sense the urgency of participants on its L2, allowing each L2 to be a tentacle that adapts to the wishes of its users. Because each ORU is its own sovereign economy, it will implement various EIPs independently and asynchronously, separate from the rest of the ecosystem, based on the needs and desires of its users.

Over time, the best EIPs will dominate the L2 ORU landscape as more and more independent ORUs see value in the same EIP. When an EIP dominates the entire ORU landscape, it will signal to Ethereum L1 that it is a good EIP and is safe to implement at the L1 protocol layer.

There will be many forks of Optimism on Ethereum. When they both accept the same EIP, it will signal to the main L1 that the EIP is desirable and safe.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

Briefly summarize the meaning of EVM equivalence

The EVM equivalent helps Ethereum break free from the shackles of L1, Ethereum becomes able to extend outward to the secondary market, and the demarcation line between Ethereum L1 and EVM equivalent L2 will also become very blurred. In other words, the definition of L1 or L2 will become less important, because it’s all “just” Ethereum.

Horror vacui

“Nature hates the vacuum – Aristotle”

Nature is good at filling in gaps. The more an organism evolves to fit its environment, the more space it fills. Animals consume food and reproduce to the maximum extent allowed by the environment. All plants are representations of fractals because fractals are algorithms that maximize surface area. The increased surface area of ​​a plant increases its ability to capture sunlight on its leaves, as well as its ability to obtain nutrients from its roots.

last mile problem

The last mile refers to the last segment of a journey, including the movement of people and goods from a transportation hub to their final destination. The last mile describes the difficult final part of the transportation of people and packages from the hub to their final destination. Some of the challenges of last-mile transportation include minimizing costs, ensuring transparency, increasing efficiency, and improving infrastructure.

Nature is really good at solving last mile problems. It’s a natural consequence of “survival of the fittest”; the ability to replicate and reproduce the best organism to fill the gap it sits in.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

Even within a single organism, fractals are fundamental patterns for increasing the scale and efficiency of organisms. The lungs are responsible for capturing oxygen and distributing it into the blood; the circulatory system is responsible for distributing this oxygen and other nutrients to the farthest reaches of the organism. A fractal is a structure in which each substructure has the same properties as the overall structure. Fractals can be thought of as never-ending patterns, and reproducibility and reproducibility is what makes a fractal a fractal.

Only replicable and reproducible structures can effectively fill gaps in nature. Crypto is a huge void and there is still a lot to build. But in order to fill all these gaps with new structures, we need systems that can be replicated and reproduced.

EVM equivalence produces the basis needed to produce these properties.

With an EVM-equivalent Rollup ecosystem, Ethereum can replicate and reproduce at breakneck speed, zeroing out the desires of its users and updating its code to map those desires.

Each L2 can go in its own unique direction, specializing in what it wants to specialize in. A successful L2, with many users and a lot of value, will signal to other L2s that it has discovered something of value. We all know that the cryptocurrency industry is really “efficient”, and once anything is proven to be useful, it will be copied and copied.

As long as L2 finds a new source of value, this source of value can be replicated and shared across the ecosystem and eventually brought back to the center of the ecosystem.

EIPs are new genes

Richard Dawkins’ book The Selfish Gene discusses that each gene of an organism is the smallest unit of life, and its inherent self-interest in its own preservation and reproduction provides the fundamental pattern upon which all life depends.

Good genes survive and bad genes die.

As an organism evolves and adapts, the genes that make an organism healthy spread over long periods of time throughout a species through duplication and reproduction. Beneficial random mutations in a single organism help it survive and thrive better than others, and as a result, the gene goes from being present in just one instance to being present in all possible instances because it’s a good gene.

In the world of modular Ethereum, EIPs are the new genes.

In contrast to the sentence just now, the simple summary is: good EIPs will spread effectively; bad EIPs will disappear.

Ethereum is a responsive adaptive system, the ORU equivalent of EVM allows new genes to be implemented first at the edge of the organism, and then after this new EIP proves its viability, the EIP spreads out to other ORUs. If the EIP is good enough, it will go all the way back to the beating heart of Ethereum: L1.

Ethereum becomes an organism capable of responding and adapting to its environment, even as its environment changes over time. The genome of an organism is fixed from the beginning, and Ethereum has the ability to invent and integrate new genes as needed in order to keep up with the changing needs of the world.

Discover value in the EVM equivalence paradigm and turn that value into a public good that can be shared across the entire Ethereum ecosystem, not just tied to a particular L2 to show value.

Retrospective Public Goods: Building Infrastructure for the Entire Ecosystem

Retroactive Public Goods Funding (RPGF) will take Ethereum from a system that responds to its users to one that can take proactive action.

Optimism is pioneering a new model of funding public goods that injects Silicon Valley-style financial incentives into projects that build public goods.

The revenue generated from L2 block space fees goes directly to innovators and founders who build useful things for Optimism L2. RPGF invests money into the future, empowering public goods builders to build, and guaranteeing that if they build useful public goods, there will be money waiting for them.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

Influence = value

The combination of RPGF and EVM equivalence means that once Optimism L2 has built something useful, other components of the entire EVM equivalence ecosystem can be used directly.

The block space sale on Optimism becomes not only the infrastructure for Optimism L2, but for all L2 infrastructure, which eventually becomes part of Ethereum itself.

Bankless co-founder: EVM equivalence will unlock next phase of Ethereum growth

The equivalent organic combination of RPGF and EVM provides us with an effective solution to solve the “tragedy of the commons”, and this innovation is not only applicable to Optimism, and even not only applicable to L2 or Ethereum, but can solve the problem of the whole world. a major pain point.

  • Step 1: Fund public goods on Optimism;
  • Step 2: Extend these free public goods to all other L2s;
  • Step 3: Integrate these public goods into Ethereum;
  • Step 4: Bring the impact of public goods to the world;
  • Step 5: Solve the problem of global resource coordination to unlock the future of Star Trek.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bankless-co-founder-evm-equivalence-will-unlock-next-phase-of-ethereum-growth/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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