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25959239 No.25959239 [Reply] [Original]

Loopring is mooning today because SNX just unveiled it's plans to use Optimistic rollup. It is a complete cluster fuck. If Optimistic Ethereum even works it will take at least 6 months to have a few dapps fully migrated. People don't realize how big of a task it is. Most likely simple swaps will exist on ZK rollups, since they actually work right now and have several advantages over OR. I already bought in earlier today, now that the news is circulating I thought'd I'd let my white male NEET frens know.

Optimistic roll up was supposed to be completely done by late 2020. Yet here we are, and dapps are going to end up rolling it out over the course of 6 months. It might not even be able to get adoption. It is an absolute mess.

>> No.25959288

>>25959239
so what they can let their zk rollups running until someone finally manages to implement this OVM stuff. i also expected this to progress much faster given the incentive, not sure what's the blocker on this this.

>> No.25959307

i just cant hold project literally consisting of 3 chinks as a team

>> No.25959519
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25959519

>>25959307
Backed by Vitalik. Stay poor.

>> No.25959643

>>25959288
ZK roll ups are the way to go. There is a ton of problems with Optimistic roll ups. You can listen to this podcast to get a run down. Basically, yes optimistic rollups are nice for some things, but things like exit times and the fact that they become more vulnerable to attack the more $$$ on them is a problem.

Most people after listening to this debate thought that ZK roll up was superior to Optimistic rollup:
https://blockdebate.buzzsprout.com/767033/6210781

You can read the transcript to sample some of the stuff. But one thing that I thought was crazy was that if you have an Optimistic Roll up with more than $50 million TVL, you basically need to have one week's time to submit fraud proofs. No one is going to use this shit.

It's plasma all over again. No one uses OMG for anything. Most of ETH's gas use is just people doing swaps. Most swapping can just be done on layer 2, all the pairs with high volume should move there. Shit coins/defi degen plays should remain on Uniswap layer 1. Just moving some of the more used pairs to layer 2 on Loopring would free up tons of gas.

>> No.25960182

>>25959239
I've made some decent swing trades on lrc when it dips, but holding doesn't feel right

>> No.25960600
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25960600

>>25960182
I would have felt the same if there was anything on the horizon that could actually have a chance of competing, but there isn't. There is literally no other Layer 2 swap solution that is actually using ETH to back it's security right now. It's all sidechains or some other layer 1 trading ETH IOU's.

The new tokenomics have been discussed a little bit and they seem really promising. TVL keeps rising rapidly too, and will until optimism gets it's fucking shit together.

Other projects are realizing that people are priced out of using uniswap and are going to start using loopring more and more.

>> No.25960764

I have been buying this from 11 cents and up. Been putting pay checks into it. It's literally the best play right now. Not selling til it hits $2. This could surpass UNI. I'm like you OP. I realized what a train wreck Optimistic Roll up was when I looked into some of the docs in September. Saw vitalik talking about it during a layer 2 presentation and have been buying since.

>> No.25961547

OMG, The Market's Choice, is better.

>> No.25961898

>>25961547
Go back to your own thread pajeet. Literally no one is using OMG Plasma. OMG is unironically the most over valued crypto right now. No use case.

>> No.25962359

>>25959643
>It's plasma all over again.
no, optimistic rollup also has data availability on-chain and doesn't suffer from the drawbacks that plasma has. optimistic and zk rollups both have their advantages and disadvantages. I'd agree that for a DEX implementation zk rollups should be better suited, but optimistic rollups support the full EVM which allows for more complex products.
Vitalik recently wrote a nice piece comparing these two: https://vitalik.ca/general/2021/01/05/rollup.html

>> No.25962499

>>25959239
This team is all chinkcoms with one token white guy. Stay the fuck away

>> No.25963262

>>25962359
I guess this is how I originally felt, but it seems like optimistic rollups are being sucked off constantly by the ETH community, yet nothing of note is being delivered. When they do make a delivery, it is basically a slow roll out that is going to take months...

You are probably right, that Optimism will eventually deliver and allow for the more complex use cases. My faith is just a bit shaky in optimistic rollup because it is taking so long.

But everyone seems to be waiting for optimism, and the truth is like you said, simple DEX's can just run with a zk rollup and be fine. It would drastically reduce ETH's gas use.

>>25962499
They can't even exit scam if they wanted to. Even if the loopring relayer disappeared you could get all your coins off of it.

>> No.25963277

fuck optimism.
ARB.IT.RUM