2024-06-22
Ethereum Global News

Layer-2 project exec zooms in on the capabilities of Ethereum scaling solutions

Metis co-founder Elena Sinelnikova delves into the world of layer-2 blockchain technology, and its potential to transform how we interact, collaborate and build the decentralized economy of the future.

In episode 13 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw sits down with Metis co-founder Elena Sinelnikova. Metis is an Optimistic Rollup built on Ethereum to explore the world of layer-2 blockchain technology, and its potential impact on decentralization, scalability and real-world applications. Sinelnikova shares her unique insights and experiences in the rapidly evolving blockchain space, and gives us a glimpse into the future of decentralized autonomous organizations (DAOs) powered by Metis.

The conversation begins with Sinelnikova providing a comprehensive introduction to Metis, its mission and the challenges it aims to address in the current blockchain landscape. Next, she dives deep into the limitations of Ethereum’s layer 1, highlighting issues such as high gas fees, congestion and slow transaction times. Sinelnikova explains how Metis leverages layer 2 technology to overcome these hurdles — enabling faster, more efficient, and cost-effective transactions for users and developers.

Metis is built on top of the Optimism codebase. Sinelnikova explains that even though the Metis team believes Optimism is on the right path, the team needed to make some changes to the code to create a more efficient platform for the Web3 economy.

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“You see, Metis fees are way lower than Optimism fees. We needed these lower fees for the enterprise level — so the enterprise level apps can use Metis easier more than Optimism.“

Next, Akyaw and Sinelnikova discuss the importance of decentralization in the blockchain ecosystem. Metis intends to use its unique approach to building and supporting decentralized autonomous organizations (DAOs) to shape the future of work and collaboration. What’s more, Sinelnikova emphasizes the role of Metis in empowering individuals and businesses to create, manage, and scale their DAOs, thereby fostering a more inclusive and transparent decentralized economy.

Related:  Africa: The next hub for Bitcoin, crypto adoption and venture capital?

This episode also explores the topic of adoption and education. Sinelnikova believes that the most important thing is not getting new users into crypto but protecting users who have already ventured into crypto through extensive education.

Finally, Sinelnikova discusses the future of Metis and layer 2 blockchain technology, outlining the vision for the platform’s ongoing development and growth.

Listen to the latest episode of Hashing It Out with Elena Sinelnikova on SpotifyApple PodcastsGoogle Podcasts, or TuneIn. You can also check out Cointelegraph’s full catalog of informative podcasts on the Cointelegraph Podcasts page.

Source : Cointelegraph.com