Synthetix Demo FAQ

Demoing the OVM, general purpose EVM-compatible L2 infrastructure: http://l2.synthetix.exchange/

What is the L2 Synthetix demo?

Synthetix on L2 is a demonstration of the power of Layer 2 for Ethereum--Web2 UX, Web3 features, and a backend ready for mass adoption. With Optimistic Ethereum, this power comes to the fingertips of any Ethereum dApp with just a few lines of code.

How does Optimistic Ethereum work?

Optimistic Ethereum is a layer 2 scaling solution powered by The Happy Stack: the OVM [link to OVM explainer] running on ORU [link to ORU article]. Together, the two make for web3 magic.

What are the UX benefits of Optimistic Ethereum?

Optimistic Ethereum is the Ethereum you know and love--just with:

  • Instant cryptoeconomic confirmations

  • Orders of magnitude better cost & throughput.

  • Support for native meta-transactions/account abstraction

  • No painful gas UX

How does Optimistic Ethereum compare to other scaling solutions?

  • Full EVM support--any Ethereum dApp works with just a few lines of code

  • No moon math. (SNARKS, STARKS, etc.)

  • Not a sidechain. (Data availability on ETH 1.0)

  • Smart contracts (Generalized, interoperable)

  • Simple infrastructure. (No consensus)

How many transactions per second?

  • ETH 1.0 (today): ~200 tps

  • ETH 1.0 (optimized): ~2,000 tps

  • ETH 2.0 (sharded): 2,000 * # of shards

Is Optimistic Rollup secure?

Yes. Data availability on mainnet Ethereum guarantees anyone can challenge invalid transactions.

What’s missing from this demo?

Layer 2 deposits and withdrawls. Instead, we airdrop testnet tokens to your wallet.

How do I build a dApp on Optimistic rollup?

Alpha code and documentation for the OVM can be found here! It's not ready for mainnet yet... but stay tuned!