In general, roll-ups involve executing a transaction outside of the main blockchain and then sending the transaction data to the main network of that blockchain. This allows you to move the calculations to a second level to lighten the load on the main blockchain. A solution that has a future that allows for greater scalability.
Painful memories
It is not easy to launch a new project in 2022 after being part of the sad team that saw Terra collapse last May. Indeed, after the UST stablecoin depeg last May, in an attempt to stabilize the cryptocurrency at $ 1, many LUNAs had to be minted by dropping the value from $ 150 to less than $ 1 in a matter of hours, without success.
This is certainly the tragedy of the cryptocurrency industry of 2022 that caused the medium to collapse further, but it has also drastically affected investor confidence, as well as losing fortunes to the entire community behind Terra Luna.
Do Kwon, CEO and creator of Terra Luna, considers himself the sole culprit of this fiasco and even though he was not prosecuted at the beginning, it seems that things are changing in this regard. The Korean authorities have in fact invalidated his passport and a "report" is underway to Interpol to capture him and bring him back to South Korea.
Furthermore, Do Kwon would still be earning money from LUNA through anonymous cryptocurrency wallets and LUNC remains in the top 50 cryptocurrencies. Even though the coin is worth less than a dollar, the community is still very strong in trying to make things happen.
Neel Somani's background
For all professionals who have worked on Terra, it is not easy to start a new project, yet this is what Neel Somani has decided to do and seems to have successfully undertaken!
In an interview with The Block, Neel Somani said that while his background as an engineer in the Terra project could have been a hindrance to his new project, it wasn't. For him, the Terra blockchain has very capable developers and he simply wants to develop something similar, learning from the mistakes of Terra Luna.
He added:
If the blockchain I was building were to have any problems, I would be fully exposed and there would be no way to mitigate the risk. On the other hand, when building a roll-up blockchain, the problem becomes less because you can always change the first layer.
Somani has therefore just launched the Eclipse project, which constitutes a second level of the Solana (SOL) blockchain and is inspired by the interoperability of the Cosmos (ATOM) blockchain. A first version is expected to be available as open source early next year.
According to a tweet from the Eclipse project, it will improve the safety and efficiency of the L1 layer, while allowing the usual decentralization at an unprecedented speed.
