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Briefly describe the unique advantages of Conflux in Layer 2 competition

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Layer 1 projects have their own unique advantages when providing Layer 2 solutions.

Original title: "Tucao Jun Roast Boy | Quiet! Tell you why Conflux is the best Layer 2! "

Original source: Conflux

The last issue of "Layer 2 may Fragmenting the Ethereum Ecosystem, Layer 1 Joins the Battlefield (Part 1), we talked about the barriers to interoperability between Ethereum Layer 2 that will split the ecology into two-layer projects. In this issue, we will talk about the advantages of Conflux in this competition.

The non-interoperability between second-layer projects not only affects the ecology of DeFi, but also affects Layer 2 Early start of the project. Layer 2 projects cannot directly borrow the ecology and funds of Ethereum's existing DeFi products, but need to continuously attract developers and users to migrate funds and applications. This is no different from the ecological construction tasks that Layer 1 projects are facing now. They are all blocked by crossing out and crossing in. The smooth interaction with Ethereum Layer 1 needs to attract developers, users and funds. Layer 1 projects can gain a place in the competition of Layer 2 through cross-chain methods.

Layer 1 projects have their own unique advantages when providing Layer 2 solutions.

First of all, Layer 1 public chains such as Conflux are fully compatible with Ethereum smart contracts, which means The code, development skills and development experience accumulated in the Ethereum ecosystem can be migrated at almost zero cost.

Second, Layer 1 projects have higher performance expansion space and greater development prospects. Excellent emerging Layer 1 public chains have high transaction processing capabilities, and their performance improvement space is only based on technical iteration capabilities. However, the performance development of Layer 2 projects, in addition to requiring technical iterations, is also subject to the inherent efficiency of Layer 1 Ethereum. Whether ZK Rollup submits ZK proofs or Optimistic Rollup submits fraud proofs, it needs to be on the Layer 1 mainnet.

Third, the Layer 1 project itself can provide the decentralization and security of the public chain level without It needs to rely on trust in the submitter of the fraud proof, or the selector of the cryptographic parameters, which is unmatched by pure Layer 2 projects. When the ecology is built, the Layer 2 project is just a Layer 2 project, but the Layer 1 project that provides the Layer 2 solution may itself grow into the next influential public chain platform.

In the long run, if Ethereum can continue to prosper, then its Layer 1 performance is doomed High transaction fees are imposed, and only large transactions can directly bear these transaction fees. Various Layer 2 schemes allocate the cost of an on-chain transaction fee to multiple second-layer network transactions to reduce the need for small transactions.

While various Layer 2 solutions undertake the overflow demand of Ethereum Layer 1, they also split the DeFi ecology Come in different second-tier plans. At the same time, other Layer 1 public chains can also provide a second-layer solution on Ethereum through cross-chain methods to undertake the overflow needs of Ethereum Layer 1. But not all Layer 1 projects have the ability to undertake the developers, users, and funds diverted from Ethereum. To be able to undertake the diversion of Ethereum, this Layer 1 public chain needs to have several characteristics:

1. Based on work The quantity proves the PoW system. The debate on the security of PoW and PoS has been around for a long time, but except for Ethereum, the concentration of token holders in other PoS public chains makes these public chains unqualified to analyze the security of PoS under the decentralized token model. Most public chains based on Proof of Stake PoS are essentially a system controlled by early developers and early investors. Such a degree of decentralization cannot undertake or even replace the application of Ethereum.

2. Excellent system performance. Ethereum’s dilemma today stems from the fact that the performance of Layer 1 cannot meet the needs. If the low transaction cost of a Layer 1 public chain is just because no one uses it, and does not fundamentally improve the system performance of the blockchain, then even if it absorbs The DeFi ecology diverted from Ethereum will eventually return to the old path of Ethereum, and there is not much room for development and imagination.

3. Low development cost and high degree of freedom. As mentioned earlier, the low technical threshold and high interoperability of smart contract development are the source of vitality for the DeFi ecosystem.

Conflux is the public chain that best meets these characteristics, and has no competitors. It is based on the proof-of-work mechanism, which can maximize the decentralization and security of the blockchain. It also optimizes multiple blockchain performance bottlenecks such as transaction forwarding and execution, and realizes the transaction execution capability of the final system at 5000 tps.

In terms of confirmation time, Conflux has broken the confirmation of the Nakamoto consensus through the advanced proof-of-work consensus algorithm The time bottleneck has achieved a security level equivalent to six confirmation blocks of Bitcoin in more than ten seconds, representing the highest technical level of the PoW public chain. (For more details, please refer to Document 1, Document 2, Document 3, and technical PPT) In terms of development cost and degree of freedom, Conflux is fully compatible with Ethereum's virtual machine, and various Solidity codes can be easily migrated to Conflux.< a href="https://mp.weixin.qq.com/s?__biz=MzU3ODc3ODkxNA==&mid=2247495744&idx=1&sn=29ff7282e8d99e02af66e0c3af78219c&chksm=fd72920dca051b1b93d495ef 1c1bc7872ad4b49f1dd02591989ac48df2a9cf295aac930a4ed8&scene=21&token=1228386570&lang =zh_CN">Various ecological kits also have good compatibility. Developers can develop contracts more efficiently under the exact same logic, making this a more suitable place to continue exploring and developing the future of DeFi.

In addition, Conflux innovatively set up a payment mechanism

a>, allowing developers to pay transaction fees for users. Users do not need to hold platform tokens, and can also enjoy the use of the platform, further reducing the user's entry threshold.

Conflux launched the ShutterFlow cross-chain protocol, which realizes the asset cross-chain between Ethereum and Conflux network, and Provides a safe, efficient, and simple user experience. The agreement is jointly maintained by the Conflux Foundation and members of the ShuttleFlow Alliance, and has been running stably for 9 months. The current Conflux mainnet has launched MoonDEX, MoonSwap, Flux, Tspace and other DeFi products, and provides DApp developers with complete developer kits such as Conflux Studio, Conflux SDK, and Conflux Portal that are compatible with the Ethereum ecosystem.

Finally, we think. Layer 1 is an incubator and a testing ground. Benefiting from its extremely low development threshold and high degree of freedom, various new ideas and product designs are generated, landed, integrated, interacted, and evolved here. Layer 2 represents the mature operation of Layer 1 output. Professional developers use more advanced technology to fix the experimental results of Layer 1 as relatively stable products, but it also brings about a decline in innovation. Ethereum's shift to Layer 2 means that it is constrained by the performance of Layer 1 and has given up greater development potential. But for the future of the entire blockchain, the expansion of Layer 1 is far from the end.

Everything in the past is a prologue.