Ethereum L2 Future by Ethereum Magicians ✨

Ethereum Magicians are back with the Magicians typical event!

Published in

The Fellowship of Ethereum Magicians

4 min readNov 2, 2020

Last year at Devcon5 we encouraged the Ethereum core devs and researchers to think outside the box and host a roadmap discussion with the developers and users in the wider community. This discussion and feedback received was extremely useful for Ethereum 2.0 related work and perhaps it helped inspire Vitalik to create a few “beast mode” write ups and explain more of what are the plans for the next-generation Ethereum network. Another outcome was Alexey and Piper forming new lines of Eth1.x research.

A year has passed since then and perhaps due to “no conferences”, Ethereum as a platform is expanding and reaching new highs from the dapp development and user activity perspective. ETH has reached new highs with the growing DeFi segment, and the transaction fees were reaching the three digits numbers in dollars for a single transaction. Some would say that DeFi has become super risky, many hyped dapps and smart contracts were under the risk due to projects not getting audited. There were a couple of big security and governance failures, people have lost money yet every day there was a new token announced. The DeFi space has turned into a shit show, some people were watching it with popcorn in their hand, some people made money, some had lost money and a lot of people were worrying about the reputation of the Ethereum network and community.

This was a huge problem for other dapps that rely on the network, some DAOs weren’t able to function as members needed to vote on chain on proposals and encountered high gas fees. In the minds of users, if a vote costs even a small amount, it’s not worth paying hundreds for transaction fees.

Migration and L2s

The idea of using layer 2 solutions on Ethereum emerged two years ago at Devcon4. Since then a lot of progress has been made. The shit show that we saw a few weeks ago has again emphasized the importance that more teams work on L2 tech in order to let Ethereum-based dapps be able to support more transactions per second (TPS), with cheaper transaction fees. But what will that look like for dapp users? What will it be like for dapp developers?

Sessions

We are aiming to create a place for the L2 discussions that would encourage a wide community to join and be a part of it. We would like to see people talking, educating each other, and giving answers to the questions. Create a hive alike place (on the internet) where the discussion can happen in order to see the light at the end of the tunnel for developers and users.

We would love to see the discussion around the usability of L2, how dapp developers can pick the “right” L2 chain where they will be deploying their contracts and build their projects on the top of.

Schedule

We have created a schedule and will host 3 sessions around L2s and developers. Every session will happen on Friday at 3pm UTC.

Starting with L2s on 13th November

We will be hosting an Educative introduction into L2 where we will let the members of the projects introduce their tech and compare them to others. This session will be focused on entry level and comparison from developer perspective.

dApp development on L2 on 20th November

The second session will be focused on the dapp developers and L2 usability. We will be talking with L1 Ethereum developers about which L2 they’re considering and why, identifying the pain points of L2s and how we can coordinate on them. This session will be more open discussion with dapp developers and L2 teams.

Ethereum L2 users on 27th November

The third session will be focused on Ethereum L2 users. We will bring dapp developers in the same space with power users, find the key pain points for L2s, explore current similar situations. We will aim to come up with the conclusion on how to develop L2s in order to have everything that users and developers need.

A few words

We are tremendously thrilled to host those sessions and spin up the much needed discussions around the topic. Ethereum meets L2, sessions with the developers, researchers, in order to educate the public about L2s and its application. We want to give a chance the community to bring up questions, miss conceptions in order to be more informed about the current development in the Ethereum ecosystem. Everyone’s welcome to come over!