The Superchain

• Coinbase has launched a new Layer 2 solution called Base, which is built on the Op Stack version. • Ethereum and Cosmos are on a collision course, trying to solve the same problem from different starting positions. • Optimism has rebranded itself as the Super Chain, which is similar to an app chain or a thesis on the Ethereum application space. • The Super Chain is a horizontally scalable network of chains that share common security, communication, and open source development stack. • Cosmos and Ethereum are building the future of blockchain space focused on specific applications, but Ethereum relies on a single ultimate source of truth, while Cosmos does not. • The Super Chain is a version of what the Cosmos thesis is trying to achieve, but in a secure variant for Ethereum. • Developers get a set of ready-made tools for creating their own blockchains that are secure and compatible with each other. • The goal is to shorten the time from development to launch and allow these chains to interact with each other. • Ethereum and Cosmos are built according to the same shared vision but have different starting positions. • The Op Stack is Ethereum's attempt to create its own Cosmos SDK to allow multiple L1s to use the same stack as L2 or Roll-Ups chains. • Cosmos focuses on compatibility, creating a Cosmos SDK with multiple modules and creating network effects. • Both stacks allow developers to move from zero to one as quickly as possible, but they achieve this in different ways. • The stacks are a generalized Layer 2 blockchain space and are not necessarily Layer 3. • Optimism has chosen a different approach than Sovereign Labs and Celestia, joining Ethereum to make it easier for Ethereum developers to build on top of it. • The compromise is that the fate of Optimism is tied to the success of Ethereum, while Sovereign Labs is not limited by the success of its Layer 1 but lacks the systematics of development and mass user engagement work.

Interchain messaging and shared sequencers

• The Ethereum Foundation has published a document outlining how inter-blockchain communication (IBC) will look in Ethereum, but the likelihood of its implementation is low. • A more likely solution is a shared set of sequencers in the Cosmos ecosystem. • The problem with Roll-Ups is the seven-day waiting period required to transition from one Roll-Up to another, so a shared network of sequencers may be necessary. • One potential solution is to use L3s that connect to the Optimism Mainnet or are sent to Base to avoid the seven-day challenge period. • The biggest missing element in the future multi-chain superchain is whether the benefits of IBC can be replicated between L2 and L2 and L2, or if another level is needed where most OP-chains are actually L3.

Role of General-Purpose Networks

• It is interesting to compare user activity between Mainnet Optimism and Base Coinbase. • The advantage of Base is its 108 million users, but it can be seen as a corporate network. • The role of general-purpose Layer 2 networks such as Optimism and Base will change over time as specific applications move to their own L3. • Optimism and Base will serve as adaptation tools for users and opportunities for easy launching of new projects, but over time they will transition into communication hubs between different L3s.

The Cosmos SDK vs OP Stack

• The OP Stack has different layers, including management, computation, execution, output, sequencing, and data availability, and uses existing tools such as the Ethereum Virtual Machine (EVM). • The Cosmos Stack is a complete stack that includes consensus, network interaction, application modules, staking, slashing, IBC, and management. • The OP Stack is powerful for scaling, while the Cosmos Stack is powerful for deep innovations that require the chain to understand the application layer. • The OP Stack is good for attracting users and scaling properties, but owning the full stack may be necessary for innovation.

Communication HUBs and Value Accrual

• Praises Coinbase for its participation in Optimism and acknowledges the limitations of the current design in terms of the set of sequencers. • The initial role of the hub was to be the center for message exchange for the Cosmos ecosystem and facilitate user registration. Base performs a similar role for the Optimism ecosystem, while Optimism Mainnet will serve as the communication layer for L3s built on top of the OP Stack. • There may be tension between applications on Optimism Mainnet and those who launch their own L3s for greater control and closer relationships with users, which may impact value accrual. • The potential value accrual for Optimism Mainnet lies in MEV generated by all L3s using it as a common communication layer. • Network effects in the Optimism ecosystem will be strengthened when L3s begin to contribute to the stack and innovate alongside the optimism team.

SDK Network Effects

• The launch of Base by Coinbase is compared to the launch of Binance Smart Chain (BSC). • Binance initially forked the Cosmos stack to create BSC and used a forked IBC to create a bridge between the two chains. • Binance did not coordinate with the Cosmos community and experienced issues with outdated software. • Coinbase is partnering with the Optimism community to create Base and outsource stack maintenance and development. • Base is likely to attract "blue chip" applications rather than create new names. • Binance Smart Chain inherited the brand of its corporate owner, Binance, and has many organic use cases, primarily speculating on meme projects. • It is unclear what brand Base will inherit in the context of web 3.

What remains to be built

• The discussion revolves around what else is needed to formalize the vision of a super chain. • Six things are needed: a trusted set of chain attesters for withdrawal claims, faster interchain transactions, the ability to perform atomic interchain transactions, scalability to accommodate transactions, a foundation for creating scalable dApps, and a simple wallet for managing assets across chains. • These are similar problems that Cosmos has focused on, particularly fast interconnectivity between chains and recreating compatibility between various applications. • The Super Chain is another step towards the same vision as Cosmos and Ethereum. • Solana may have an opportunity to position itself by doing everything at one layer, allowing for more synchronous composition.

How Ethereum has influenced Cosmos

• Ethereum and Cosmos have similar roadmaps, with Ethereum borrowing some of Cosmos's best ideas, such as lazy ledger and communication hubs. • However, ideas do not penetrate the Cosmos ecosystem in reverse, possibly due to competing security models. • Cosmos is starting to implement common security methods across its ecosystem to better align with Ethereum, which could lead to greater interoperability between the two ecosystems.