Gnosis Safe to build multi-chain ethereum ecosystem, support all EVM-compatible networks

Official support for Arbitrum, Polygon and BSC will begin in the next 2 months.

Gnosis Safe to build multi-chain ethereum ecosystem, support all EVM-compatible networks

This article outlines how we will build a multi-chain ethereum ecosystem, including our vision for ethereum and the role Gnosis Safe will play in it.

Too long to read
We plan to make Gnosis Safe available to all relevant EVM-compatible networks, and to that end, we have released a new version of the Gnosis Safe smart contract: the Gnosis Safe L2 contract.

In the next 2 months, we will start to officially support Arbitrum, Polygon and BSC.

This summer, we will support more networks.

The future of ethereum
As gas prices have reached record highs this year, many users have had to find low-cost alternatives to DeFi activity. At the same time, many networks dedicated to breaking the scalability bottleneck are finally coming online after several years of development. For DeFi users and projects, these networks suddenly have a clear value proposition.

In his “Incomplete Guide to Rollup” released in January, Vitalik Buterin stated his conviction that solutions such as zkSync, Optimism and Arbitrum will be the primary means of achieving Ether scalability. However, at least in the short to medium term, many EVM-compatible Layer 1 networks (so-called sidechains) will benefit from the scalability pressures of Ether Layer 1. Binance Smart Chain, Polygon and xDai may be able to build a sustainable developer ecosystem. Other networks may offer a specific consensus/security model that attracts different types of users or applications.

The role of Ethernet Layer 1
We see strong potential in the ecosystem of these networks and Layer 2 projects. We expect a lot of economic activity to occur outside of the Ether Layer 1 chain in the future. However, we remain bullish on Ether (as we always have) and are confident that as we enter the multi-chain era, Ether Layer 1 will remain at the heart of.

Ether Layer 1 will remain a censorship-resistant global settlement layer

We expect that the majority of high-value interactions will still occur on Ethernet Layer 1. For these application scenarios, security assurance and censorship resistance are more important than low transaction fees.

Ethernet Layer 1 remains the foundation for finality and security, for example, storing transaction data for Rollup or enabling Merkle root checkpoints in the commit chain.

While Ethernet 2.0 itself cannot solve all scalability problems, it allows Ethernet Layer 1 to lay a better foundation for Rollup and other Layer 2 scalability solutions.

Gnosis Safe: The Operating System for Ether
We believe Gnosis Safe will play an important role in driving Ethernet into the multi-chain era by

Be the operating system for Ether and EVM-based networks: enabling scenario-wide common and programmable accounts for the network.

Serve as a critical infrastructure component to protect critical systems within the decentralized network. These critical systems include cross-chain bridges, scalable smart contract protocols, DAO treasuries, and more.

Every high-value network needs accounts that enable advanced access/control to avoid single points of failure when managing large volumes of digital assets.

All of these factors make up a “Layer 2 strategy” that cannot rely on just one network. We saw the need to make Gnosis Safe available to all relevant networks that are production-ready and EVM-compatible.

Layer 2 Contracts for Gnosis Safe
Unfortunately, the existing Gnosis Safe infrastructure cannot be deployed on other chains yet, because the Gnosis Safe solution on Ethernet Layer 1 requires the use of a tracking node to optimize gas usage. Other networks do not usually provide such tracking capabilities.

Fortunately, for Layer 2 and EVM-based sidechains, optimizing gas usage is not as important. Therefore, we can send the required transaction data as events, thus eliminating the need for a tracing node. We call this new instance of the Gnosis Safe contract: Gnosis Safe L2.

Multi-Chain Schedules
We have just finished our security audit of the Gnosis Safe L2 contract. However, for each contract change (no matter how small), we will strictly enforce the security process before formally introducing a new contract version.

This is also the case with the Gnosis Safe L2 contract. We’ve launched a week-long bug bounty program that allows security experts from across the community to test the integrity of the contract. We’ve also increased the maximum bounty amount for serious bugs to $1 million.

In June, we will provide support for more networks, starting with Arbitrum, Polygon, and Binance Smart Chain, which have received the most user calls.

Gnosis Safe to build multi-chain ethereum ecosystem, support all EVM-compatible networks
  • Tentative go-live plan for Gnosis Safe (subject to change) –

Building dApps for Gnosis Safe on other networks
We have recently provided a new way for developers to easily integrate Gnosis Safe into dApps, allowing users to access dApps directly through the Gnosis Safe interface. we are very excited to see dApps built specifically for Layer 2/Sidechain, creating new possibilities to take advantage of the high throughput of these networks.

Developers can build and test these dApps directly with Gnosis Safe, without waiting for Gnosis Safe to go live on a chain. We have just released a developer interface that allows developers to create Safe and test their dApps on any EVM-compatible network, including those that are not yet ready to go live with Gnosis Safe.

Contact us!
We’re always ready to help the developer community for Layer 2 and EVM-compatible sidechains! You can contact us at chat.gnosis.io, on the #safe channel of the Gnosis Discord.

(END)

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/gnosis-safe-to-build-multi-chain-ethereum-ecosystem-support-all-evm-compatible-networks/
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.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-05-31 05:42
Next 2021-05-31 05:45

Related articles