Layer-2 network to launch a decentralized sequencer pool
This Ethereum layer-2 platform pioneered a novel approach to a critical component of blockchain transactions, effectively mitigating vulnerabilities associated with centralized structures. In their quest for scalability and cost-effectiveness, many layer-2 networks adopt a centralized approach to on-chain transaction processing, introducing a single point of failure vulnerability. The Metis blockchain, however, has pioneered a distributed sequencer pool to improve security and decentralization. The Ethereum blockchain introduced smart contracts to automate certain events on the network , laying the foundation of decentralized finance (DeFi). As the DeFi ecosystem continues its exponential growth, however, the limitations of Ethereum have become clear. Despite last year’s migration to proof-of-stake, partially addressing the scalability issues of the Ethereum blockchain, the Ethereum network remains expensive when it comes to gas fees — the cost of each transaction executed on the blo...