Ethereum L2 Scroll Rolls Out Euclid Upgrade, What Is New?

Ethereum Layer 2 project Scroll has announced a major update, the Euclid upgrade. This upgrade is expected to reduce transaction fees by up to 90%. According to the Scroll team, Euclid is the biggest change to the platform since it launched its mainnet. This upgrade will make the network more scalable, secure, and ready for the future.

Scroll Euclid Upgrade and Improvements

It is worth noting that the Euclid upgrade aims to improve network speed and security. It also sets the stage for future innovations in the Ethereum ecosystem, like EIP-7702 and RIP-7212. 

These upcoming Ethereum Improvement Proposals (EIPs) will bring new features and improvements that Euclid is ready to support. Intriguingly, this shows Scroll’s dedication to leading the development of Ethereum Layer 2 solutions.

Most importantly, the Euclid will prepare the network for “Stage-1 readiness”. This means it wants to achieve a good level of decentralization in key areas like Layer 2 provers and sequencers. Scroll believes this upgrade helps it get closer to the Ethereum community’s goals of decentralization and trust in Layer 2 solutions.

As part of the rollout of Euclid, Scroll will stop using its current halo2 circuits. These circuits help verify transactions on the network and were designed to work like Ethereum’s Virtual Machine (EVM) in Scroll’s zkEVM system. 

With the switch to openVM, Scroll is introducing a more flexible and efficient environment. The new openVM framework makes it easier and cheaper to audit prover code and allows for more complex transactions. 

Competition in the Layer-2 Arena

Recall that cryptocurrency exchange Kraken launched its new layer-2 network, Ink, built on the Ethereum blockchain, last year. 

This innovative platform leveraged technology from Optimism, the same provider behind Coinbase’s successful layer-2 network, Base. While Kraken joined the layer-2 movement, it is worth noting that the battle for dominance in the layer-2 space is heating up.

Kraken is set to compete with layer 2 networks like Polygon, zkSync, Starknet, and Arbitrum, which have already gained significant traction. 

Each brings unique strengths to the table. Notably, these networks aim to enhance Ethereum’s performance. They reduce fees and speed up transactions without compromising the security of the main blockchain.

Ethereum Blockchain Sees Widespread Adoption

Several projects, including Blast Network and Taiko, have found a home on the Ethereum blockchain to create innovative solutions in the crypto space. The Ethereum blockchain’s flexibility, smart contract capabilities, and decentralized nature have driven its widespread adoption.

As reported by TheCoinRise, cLabs, the Celo blockchain’s core developer, transformed its Layer 1 network into a Layer 2 solution built on Ethereum. The transition helped Celo address scalability challenges.

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