The OVM ❤️s Your Scaling Solution: State Channel Edition
A little over a month ago, we enthusiastically announced the OVM, a general-purpose layer 2 (L2) solution to scaling blockchains, while inheriting all of the security of the base chain (L1). This work, while extremely promising, was purely theoretical… until today!
We’re excited to announce that the rubber has hit the road in the form of a proof-of-concept State Channel implementation on the OVM . This work demonstrates how State Channels can function seamlessly on the OVM and, if you’ll extrapolate with me a bit, shows how all L2 solutions can be built on the OVM for better standardization, security, and interoperability with less development effort.Hold up. What’s the OVM again?
The OVM is a general purpose framework for completely inheriting the benefits of the slow and costly base chain in cheap, light-speed L2 applications. Its differentiator is that it is blockchain-agnostic and L2-solution-agnostic, creating a standard that users, wallets, developers, etc. can follow to support many different L2 applications instead of a separate paradigm for each L2 approach.
How does it do this? We’ll dive deeper in a bit, but like many proposed scaling solutions, the OVM only uses L1 for what L1 is good at: achieving immutable, unanimous consensus based on a clearly defined set of rules. The mental model I always go with is that L1 is the judge and jury, and it is far more efficient to use it to retroactively handle claims that the law has not been followed than to proactively oversee everything to ensure that the law is always followed.
The OVM takes this approach a step further, realizing that if all of these claims of bad behavior can be expressed in the same way, we can use the same justice system (L1 dispute contract) for all cases (L2 implementations).State Channels PoC Overview
What it isAn example that has the minimum functionality necessary to de...