Scroll’s Euclid upgrade marks a significant step forward, pushing it into the ‘stage 1’ decentralization era with improved features and a decentralized sequencer.
Scroll has launched its Euclid upgrade, transitioning the network to a ‘stage 1’ rollup, according to the team. The “stage 1” rollup aims to improve network performance, enhance application compatibility, and reduce data storage costs while making wallets more user-friendly.
Key Features of the Euclid Upgrade
The Euclid upgrade includes a range of features designed to improve network performance, boost compatibility for certain applications, and reduce data storage costs. Additionally, the upgrade makes wallets more user-friendly through account abstraction, which allows developers to automate certain features through smart contracts.
Decentralization Efforts
Scroll claims to be the first zero-knowledge rollup to reach stage 1, joining other networks like Arbitrum and Optimism in achieving this level of decentralization. The Euclid upgrade helps decentralize Scroll’s sequencer, the system that processes and orders transactions before they are sent to Ethereum.
Decentralized scroll technology refers to a system where users can access and share content without relying on centralized servers.
This approach promotes data sovereignty, security, and transparency.
Decentralized scroll platforms use blockchain-based solutions, such as InterPlanetary File System (IPFS), to store and retrieve content.
This allows for peer-to-peer sharing, reducing dependence on intermediaries.
As of 2022, several decentralized scroll projects are underway, aiming to revolutionize the way we consume and interact with digital content.
Impact on User Activity
The new upgrade comes as Scroll has seen its user activity plummet to all-time lows. Currently, $62.6 million is locked with the protocol, down 94% from the network’s all-time high of over $900 million, according to data from DefiLlama.
Evolution of Rollup Decentralization
Scroll’s claim that with the Euclid upgrade it has transitioned to a ‘stage 1’ rollup follows from a 2022 blog post by Ethereum co-founder “proposing categorizing rollups according to their degree of decentralization”, who is Vitalik Buterin. Since then, Unichain, Ink, and Kinto have joined them, according to L2Beat.
Vitalik Buterin is a Russian-Canadian computer scientist and programmer.
Born in 1994, he co-founded the Ethereum project in 2013 with Gavin Wood and Jeffrey Wilcke.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of 'smart contracts' and decentralized applications (dApps).
Buterin's work on Ethereum has had a significant impact on the development of cryptocurrencies and blockchain technology.
Conclusion
The Euclid upgrade marks a significant step forward for Scroll, pushing it into the ‘stage 1’ decentralization era. With its improved features and decentralized sequencer, Scroll is well on its way to becoming a more secure and user-friendly platform.
