In an ongoing effort to combat rising transaction fees while creating a unified ecosystem, Ethereum co-founder Vitalik Buterin has come up with a solution for a specific type of cross-extension.
The proposal describes how two protocols using service packs can interact with each other while maintaining interoperability and synthesis.
Backlog are Layer 2 solutions, which are essentially smart contract networks that process and store transaction data outside the main chain. However, there are a number of different types of aggregation, each using unique smart contracts such as optimism and lack of knowledge.
While a number of DeFi projects have distributed tier 2 groups such as Loopring and Synthetix, the details of the different groups mean that projects cannot interact with each other directly on tier 2.
Buterin’s proposal suggests that one group can handle simple transactions while the other has full smart contract support. There are already proposals for transfer between the two smart protocols using nodes with clusters.
To explain how the proposal works, Buterin gives an example of a hypothetical stockbroker named Evan – where Evan has an IVAN_A account in pool A, over which he has full control, and he has also put money into a smart contract. IVAN_B “. In Cumulative Update B.
The smart contract will be programmed to receive “notes” containing additional data from everyone who sends them to ensure the security of future transactions. Transactions create a continuous layer that holds deposits in all of these sandbox contracts, so that group A can be sent to collective update B through that layer.
Buterin suggested that the behavior would work as follows;
Alice sends a transaction to IVAN_A using N coins and a note ALICE_B. Ivan sends a transaction to send a coin TRADE_VALUE * (1 – commission) via IVAN_B to ALICE_B ”
He added that the worst behavior would be if Evan did not send coins to ALICE_B as expected.
Referring to the “worst case scenario” that may arise using the proposed position, Buterin stressed that Alice can still wait for the transaction to confirm package A, find an alternative way to get coins in assembly line B to pay the fee, and then just claim the money yourself. …
In response to this proposal, Alon Morrosh indicated that it works in a similar way to how banks settle transactions:
“It is very interesting, as is how banks calculate transactions between themselves. Consolidation of assets into separate ‘accounts’ may be limited, and the solution may simply be to create large groups on both sides and divide the fees proportionately. “