In a strategic move, the Fantom Foundation is actively exploring the incorporation of optimistic rollups to establish a seamless link between the Fantom blockchain and Ethereum. While this endeavor might position Fantom as a Layer 2 solution on the Ethereum network, co-founder and architect Andre Cronje presents a distinct perspective on the matter.
Notably, in the previous month, the Celo network made waves by unveiling a plan and receiving approval to transform its Layer 1 blockchain into a Layer 2 component on Ethereum. This bold move led to an 18% surge in its native token’s value upon announcement.
During a recent interview on The Scoop podcast, Andre Cronje shared insights on Fantom’s potential integration of optimistic rollups to foster connectivity with Ethereum. He revealed the foundation’s meticulous evaluation of various optimistic stacks, including the Arbitrum Stack, to gauge their utilization of proofs for enhanced security assurance. Cronje disclosed that the possibility of adopting one of these stacks as Fantom’s canonical bridge is indeed under active investigation.
In the event that Fantom adopts the optimistic rollup technology, Cronje affirmed that recording a comprehensive transaction history on Ethereum would necessitate payment of transaction fees for storing these snapshots.
CEO of Fantom Foundation, Michael Kong, highlighted the substantial benefits of implementing Layer 2 technology in this manner. The move is expected to unlock increased access to liquidity from the Ethereum ecosystem, presenting a promising avenue for growth.
A Matter of Semantics: Is it Layer 2 or a Bridge?
Interestingly, Andre Cronje challenges the conventional classification of Layer 2 networks. Instead, he advocates viewing what is commonly identified as Layer 2 as a sidechain. For him, the optimistic rollup technology that acts as a bridge between these networks is more accurately described as an intermediary connection. This distinction is not merely semantic, as Cronje is deeply committed to this perspective.
Addressing this matter, Cronje asserted, “Adopting the proposed bridge doesn’t necessarily elevate us to the status of a Layer 2 network, as Layer 2 is essentially a sidechain.”
Cronje contended that technologies like optimistic rollups, categorized as Layer 2, fundamentally serve as bridge mechanisms that facilitate the secure transfer of native assets to an alternate blockchain. However, he noted that this security can be compromised when multiple bridges are linked to the concerned blockchains.
“While this technology does enhance the security of canonical assets, which is commendable and prompts our investigation, it’s important to recognize that its effectiveness diminishes when other bridging methods are in play. The scenario in which it would be most effective is during a complete chain halt,” Cronje elaborated.
In summary, the Fantom Foundation’s exploration of integrating optimistic rollups for Ethereum connectivity signifies a progressive step towards enhanced blockchain interoperability. Nonetheless, the debate surrounding whether this integration equates to Fantom becoming a Layer 2 network or simply establishing a bridge continues to evoke differing perspectives, with Cronje passionately advocating for the latter interpretation.
