Ankr and Optimism Unite for Ethereum App Scaling

A detailed look at Ankr’s partnership with Optimism, introducing Rollup as a Service for Ethereum app scaling.

Two superhero's working on the Ethereum machine.
Created by Kornelija Poderskytė from DailyCoin
  • Ankr partners with Optimism for Rollup as a Service.
  • Service offers tailored Layer 2 solutions for Ethereum apps.
  • The collaboration aims to address blockchain scalability demands.

The blockchain sector, continuously evolving with technological advancements, has observed a notable development in the field of Ethereum app scalability. Ankr, a web3 development hub, and Optimism, a Layer 2 solutions provider, have recently united to introduce Rollup as a Service (RaaS), aimed at improving the scalability and performance of Ethereum-based applications. 

Ankr and Optimism’s Joint Venture to Enhance Ethereum’s Scalability

Scalability remains a central challenge in blockchain technology, especially for Ethereum, which hosts a significant number of decentralized applications. To address this, Ankr and Optimism announced a partnership on Tuesday, November 14, at the OP Labs’ Onchain Summit in Istanbul.

Sponsored

This collaboration has led to the launch of Ankr’s Rollup as a Service (RaaS), a solution designed to facilitate the quick creation and deployment of dedicated Optimistic Ethereum (OP) Chains. The service enables users to establish independent Layer 2 solutions, which are custom-built to support traffic from specific applications or projects. 

This approach aims to provide a more efficient and scalable environment for Ethereum-based applications, addressing a growing industry demand.

Tess Rinearson, Head of Product at OP Labs, commented on the collaboration, emphasizing the goal of making it simpler for developers to bring new users into an expanding Superchain ecosystem.

What Are Rollups and What Are They Used For? 

Rollups are a type of scalability solution for blockchains, particularly Ethereum, designed to address the challenges of limited transaction throughput and high transaction costs. They work by executing transactions outside the main blockchain on secondary networks while ensuring their outcomes are reflected on the main chain. This process involves grouping or “rolling up” multiple transactions into a single transaction, which is then posted to the blockchain.

Sponsored

Most rollups fall into the category of Zero-Knowledge Rollups (ZK-Rollups) and Optimistic Rollups. ZK-Rollups generate cryptographic proof, which is then submitted to the blockchain, and are more secure. On the other hand, optimistic rollups assume transactions are valid by default and are much less resource-intensive. 

Rollups are crucial for improving blockchain networks, particularly for reasons like:

Increased Transaction Throughput: They allow the processing of transactions off the main chain, significantly raising the number of transactions a blockchain like Ethereum can handle, especially useful during high congestion periods.

Reduced Gas Fees: By batching multiple transactions, rollups reduce the transaction costs on Ethereum, especially during times of network congestion.

Enabling Complex Applications: The increased throughput and reduced costs make it feasible to run complex decentralized applications that are impractical on the main blockchain due to its limitations.

On the Flipside 

  • While rollups offer numerous benefits, their technical complexity can be a barrier. Implementing and interacting with rollup solutions requires a higher level of understanding from both developers and users.
  • Despite their efficiency, rollups still rely on the underlying blockchain’s performance. If the main blockchain faces security vulnerabilities or network instability, these problems can indirectly affect the rollups built upon it.

Why This Matters 

This development is a critical step towards solving Ethereum’s scalability challenges. By enabling more efficient transaction processing and lower costs, it paves the way for a broader range of applications and increased mainstream adoption of Ethereum-based projects.

Read more about Ankr and what it does: 
Ankr COIN: What is a Web 3 Infrastructure Provider

Read more about Solana’s impressive recent performance: 
Solana Up 150%, Overtakes Ethereum in Active Users

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.