MicroChain (Old)

Hey anon, you ready to learn more about MicroChain? We are building a robust, secure, and seamless trading platform native to @fuel_network ⚡ with a strong focus on user safety and the most seamless UX The future... delivered with an 80's trader theme 👀 🧵👇

Don't miss this discussion with some of Fuel's top builders today at 6pm CET ⚡️ Debating all things AMMs and order-books on Fuel... and maybe even some MicroChain alpha 👀

Alignment with Ethereum is important, but diversity in network design opens the ecosystem to new use cases and products that can take the industry beyond the bubble it is today Stay tuned for some exciting updates on Microchain 👀 Building in progress ███████▒▒▒

Fuel brings: - stateless account abstraction - parallelized transactions - can be deployed in multiple instances - native tokens - intents Check out the docs and the objective improvements it implements beyond the EVM: fuelbook.fuel.network/master…

Value is generated through different approaches that push the boundaries As builders, we are more interested in networks that bring new innovation to the space and have the potential to enable new use cases to the blockchain With this in mind, we are betting on the FuelVM ⚡

Yes, the EVM is battle tested and useful dApps have been built on it However, a large number of EVM rollups and L1s will not bring radical innovation and progress to the space A new design space needs to be explored - one that can enable novel applications and use cases.

@rleshner "I think it's a lot of wasted effort (many EVM chains) and wasted resources as a society, and I think there's so much more value that comes from totally different approaches"

Optimism and Arbitrum have surpassed Ethereum mainnet's activity, showing the product-market fit of EVM rollups So why not build there? 🤔 Why @fuel_network instead? Here is some food for thought from Robert Leshner discussing the diminishing value in focusing on the EVM

10/ These attributes will enable our DEX to have the best UX, on a network that is built for the long-term MicroChain is focused on delivering users the best trading experience, in a secure environment... with an '80s theme 🕺 Stay tuned for project updates coming soon 🚀

9/ We came to the conclusion that the best place to build on would: (1) be aligned with the Ethereum community (2) resemble the EVM but addresses its fundamental pain points We found that the network that best fits these criteria is @fuel_network ⚡⛽

8/ We do not believe that a potential fragmentation of the EVM is positive for Ethereum or the crypto ecosystem as a whole We believe a fundamental rethink of the EVM, or ‘EVM 2.0’ for rollups is a far more productive solution 💡

7/ This could leave zkEVMs with a choice to either: - continue conforming - innovate If they want to innovate by changing their VM, then they're giving up the conformity that made them valuable in the first place This leaves them with arguably the worst of both worlds

6/ If and when rollups fail to push through their desired changes, they may increasingly diverge as they seek to differentiate themselves and create a better experience for developers and users

5/ A situation may arise where numerous EVM rollups end up fighting for L1 updates to best suit their purposes This could create ‘rollup governance wars’ ⚔️

4/ Therefore, the term zkEVM can be confusing, given the subtle and fundamental differences between them Vitalik sought to address the confusion by grouping zkEVMs into 4 tiers Note that differences can arise even within each tier

3/ zkEVMs that are *not* EVM-equivalent gain performance benefits at the expense of full equivalence 👉 This means that some dApps, tooling, & infrastructure is incompatible This arguably makes them less secure than their EVM equivalent counterparts

2/ zkEVMs that are EVM equivalent suffer from longer and more expensive proofs The difficulty with proving the EVM can increase centralization challenges for these rollups They also inherit the objective flaws of the EVM and cannot change without losing equivalence 😬

1/ TL;DR The EVM is *not* suited to ZK proofs, with long proof times and high costs Through impressive engineering, zkEVMs have been made possible, but are clearly not the optimal architecture for rollups There are key tradeoffs between EVM equivalence and performance 👀👇

zkEVMs have been making waves recently 🌊 At one stage we carefully considered building on one... Ultimately, we decided that @fuel_network would be a better option Why? 🧵👇

So that’s your first taste for what is to come! Detailed product updates coming your way soon 👀