This is only a matter of time until each cryptocurrency exchange company and Fintech manages its own blockchain, according to OP Labs, manufacturer of the optimism of the Ethereum superposition protocol.
The logic is simple and simple, explains the chief of the product OP Labs, Sam Mcingvale, pointing to the flight success of the Coinbase Network 2 base (L2) since its beginnings in 2023.
To start, Base has accumulated an incredible ecosystem of user and developers to support the exchange, said McingVale. But the greatest evidence is how a system as a basis, combined with Bitcoin Bitcoin loans of Coinbase, makes it possible to monetize dormant cryptographic assets sitting in detention by lending them, he added.
The base has been built using the OP OP OPTIMIM battery, a software product that helps users develop layer 2 blockchains that work with Ethereum but provide faster and cheaper transactions. McINGVALE said that basic success is the largest layer 2 by a number of measures, including the total locked value, is an illustration of the way the industry is likely to develop.
“I expect each crypto exchange and each fintech company to manage their own blockchain over the next five years,” said McingVale in an interview. “If you have Bitcoin on Coinbase, in a button, they will take this bitcoin, move it at the base, which then allows you to borrow USDC. And now you can go do what you want with this USDC.”
Optimism and rivals arbitrum assume that a transaction is valid – therefore “optimistic” – with potential fraud detected by default evidence without authorization. Optimistic rollers increase the flower flow of the Ethereum base layer by treating off-chain transactions to reduce the calculation load, deriving security by publishing the results of transactions on the underlying blockchain, or layer-1. Another approach is to use zero knowledge of knowledge to create rollers that publish cryptographic evidence of validity for out -of -chain transactions.
MCINGVALE, which played a decisive role in creating the Coinbase business guard, stresses that simple crypto outfit in cold storage on a platform is relatively expensive.
“Traditionally, there has been a cost for police custody a lot of crypto, due to all security implications,” said Mcingvale. “Unlike childcare actions, where you don’t really pay for that, these actions are ready and things happen to them under the hood. The crypto is still much more emerging, but it evolves in this direction.”
There was clearly a little basic desire in the cryptographic ground. Global Exchange Kraken introduced Ink, a layer 2 blockchain that also uses optimism, like Bybit, Bitget and OKX. Fintech companies like Robinhood, for example, also explore their own L2 linked to Ethereum.
Optimis’s modular vision of an interoperable “superchain” would ideally allow users to go from one blockchain to another, just as their browser goes from one website to another, McAgvale said.
“The first adopters in Crypto were much more willing to endure a kind of Merdique UX,” said McINGVALE. “People would wait 12 seconds for something to confirm and pay $ 50, because it was this new technology they explored, probably similar to the line in the mid -90s. As, it was painful.”
