Metis, an Ethereum (ETH) Layer 2 scaling solution with Rollup technology that enhances dApps, DAOs, and NFTs for the Web 3.0 economy, has rolled out the mainnet Andromeda. After the project started, it was released as a hard fork or backward incompatible variation of the Optimism protocol. The team has also started a staking program.
In another major announcement, developers noted that the Metis DAC Creation and Staking program was set to start at 3:00 pm UTC on Friday, November 26, 2021. The team shares an extensive guide on everything you need to know to participate in a staking program. They are also pleased to announce the first Metis Community DAC: Titans DAC. It addresses a variety of community- and charity-focused initiatives.
To keep things going, we have a set of 15 Launch Edition NFTs. As stated in the update, the owners of these non-fungible tokens will have the mining power of the DAC Staking Program, Governance Rights within Titans DAC, as of Friday, November 26, 2:00 pm (UTC). And Metis IRL events.
Benefits of Rollup Tech
The Metis team says there are certain benefits to leveraging Rollup technology to enable Optimistic Rollups to pool many different transactions to provide a faster, more economical and scalable user experience. I am saying.
The latest OVM 2.0 version and documentation provided by the Optimism team reveal that the development roadmap for their initiative has changed significantly. Optimism does not provide sufficient decentralization. This was initially set by the project. achieve.
A keen focus on decentralization
Metis will continue to follow Optimism’s architecture, but will not give up decentralization for the sake of convenience, and will maintain its commitment to provide a high level of scalability. Metis outlined three approaches to making blockchain “accessible to everyone.”
Metis will support a Layer 2 Ethereum rollup solution that facilitates faster and cheaper transactions. We will also focus on developing no-code middleware utilities that enable rapid migration to MetisLayer-2.
Metis also supports Decentralized Autonomous Organizations or DAC infrastructures that are set to go beyond DAO’s basic voting and governance. This allows users to deploy distributed services on the chain and be supported by the typical capabilities of “real” enterprises.
Providing proper decentralization within the EVM Equivalence Framework
Metis points out that the goal of decentralization can be achieved within the EVME equivalent framework. They added that they have identified a way to achieve the decentralization goal while achieving EVM equivalence. They also confirmed that this path matched the design of the Metis Ranger System (as described in the white paper).
Extensive Andromeda structures include Layer 2 networks. It also comes with a multi-VM, a distributed virtual machine to support the enhanced scalability and security of the Metis Layer 2 infrastructure. Andromeda’s transaction costs are below the Ethereum Layer 1 level, but quite high (currently around $ 1 to $ 2). Metis also confirmed plans to actively participate in the Ethereum Layer 2 battle with the $ 100 million ecosystem fund.
Metis is currently participating in a fast-growing movement where Arbitrum and Optimism are industry leaders. This fund is provided and maintained through a decentralized autonomous company named Genesi to support initiatives that participate in the Metis ecosystem. Genesi is reported to be assigned to entire projects focused on decentralized finance (DeFi), games, and DAO.