• Fri. Apr 12th, 2024

Blockchain Scaling Specialist Metis Launches Layer 2 Framework

The Metis Rollup framework is now available to build decentralized companies

Toronto, April 08, 2021: Developed after Metis raised $4 million (USD) in angel, seed, and private funding, Metis Rollup is aiming to be the infrastructure for the Web 3.0 economy, enabling users to easily launch their own decentralized applications and leverage the embedded framework of Decentralized Autonomous Companies (DACs). They can thereby manage their decentralized collaborations from within, while ensuring they are low-cost, highly scalable, and offer more functionality.

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As the vision of a Web 3.0 decentralized economy has advanced, with decentralized businesses running on the blockchain, the blockchain community has built out its infrastructure in an attempt to replicate real world functionality. The problem is that current Layer 1 solutions are plagued by high gas costs, reduced efficiency levels, a lack of on-chain management tools, and difficult-to-use available platforms. All of these factors make Layer 1 solutions ineffective when it comes to supporting the operation of a complex logic application or business.

The Metis white paper explains the problems inherent in previous Layer 2 technologies, the potential of the Rollup and how the Metis framework supports the running of the Web 3.0 economy. Unlike other Layer 2 solutions which only solve the issues of transaction cost and throughputs, Metis Rollup tackles the broader issue of how to implement value creation activities (collaborations) on the blockchain to backbone the running of the Web 3.0 economy.

Metis Rollup functionality and characteristics include:

●     Scalable, decentralized, and EVM-compatible, supporting multiple businesses and the launch of proprietary tokens.

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●     The mining incentive mechanism significantly reduces the token withdrawal time from Layer 2 to Layer 1.

●     The microservice framework is built on Layer 2 to allow extension of toolkits.

●     Integrated with IPFS for privacy data protection.

●     Embedding DAC framework for DApps, communities, and projects to easily launch and manage the collaborative relationship.

A demo DAC is currently available.

Metis’ product lead Kevin Lu explains: “Layer 2 is still the wild west, full of new opportunities but hard to build on. Metis is constructing a fully functional infrastructure to empower all kinds of applications and new ideas to enjoy the benefits of Layer 2, including high scalability, low cost, high functionality, and ease of use. We have never before seen so clearly what the future of Web 3.0 looks like, and Metis will enable it to happen. Join us and see the new world.”


Media contact:

Nic Corns

M: +44(0)7954390132

E: [email protected]

About Metis

Metis was founded in Toronto, Canada in 2019 by Elena Sinelnikova, CEO, Kevin Liu, Product Lead, and Yuan Su, Tech Lead. Named after the Greek goddess of wisdom, Metis is an innovative Layer 2 development team focused on empowering the ecosystem construction of the Web 3.0 economy.

Based on the spirits of Optimistic Rollup, Metis is building an easy-to-use, highly scalable, low-cost, and fully functional Layer 2 framework (Metis Rollup) to fully support the application and business migration from Web 2.0 to Web 3.0. Metis Rollup features include EVM-compatibility, the ability to support multiple virtual machines (MVM) running various businesses at the same time, a mining incentive mechanism of Rangers to reduce withdrawal time, IPFS to protect data privacy, and a microservice framework for easy extension of toolkits.

Metis integrates the Decentralized Autonomous Company (DAC) framework within its Layer 2 infrastructure, a differentiating factor that makes it easy for any developers, builders, or community leaders to build their applications and communities and use pre-set tools to facilitate their development, manage collaboration, and provide the flexibility to cultivate new business models and ideas.

For more information, visit: https://metisdao.org/

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.