A16z’s hyped-up orange balls revealed to be an L2 rollup client

A series of cryptic tweets depicting orange balls were revealed to be building up hype for a new rollup client for Optimism (OP) called “Magi” from the crypto arm of venture capital firm Andreessen Horowitz (A16z).

An April 19 Tweet from a16z engineer Noah Citron explained Magi is written in the programming language Rust and will “help improve the client diversity and resilience of the entire OP Stack ecosystem.”

The OP Stack refers to the set of software that powers the Ethereum layer-2 solution Optimism. Among the other benefits it provides, it helps simplify the process of creating layer-2 blockchains.

Citron explained Magi “takes the place of a consensus client (often called rollup client) in the OP Stack, and works alongside an execution client such as op-geth to sync,” meaning that it allows the Ethereum chain to advance by feeding new blocks to the execution client.

The lead engineer for Coinbase’s layer-2 solution Base, Jesse Pollak, also chimed in on the announcement tweeting that “magi means more decentralization, security, and scale for the OP Stack.”

In an April 19 blog post, Citron opined that decentralization increases network security which is “critically important for rollups” just as it is for the base layer of Ethereum.

A16z’s cryptic hype orange circle tweets echoed the way Coinbase hyped and introduced its own layering network called Base which instead featured tweets of a blue circle.

Related: US share of global crypto developers fell 26% in 5 years – a16z

Citron kicked off the hype train with a tweet of an orange circle on April 18 bearing the phrase “coming soon.”

Its similarity to the hype before the announcement of Base prompted the crypto community to theorize another Ethereum layer-2 solution was imminent before a16z’s chief technology officer Eddy Lazzarin quashed the rumors.

Citron also noted that Magi is still currently in development, and while it can currently sync to the Optimism testnet it will be some months before it is production-ready.

Asia Express: Bitcoin glory on Chinese TikTok, 30M mainland users, Justin Sun saga

All Dutch and English crypto news!

CZ gets jail sentence, Gensler viewed Ether as security, and FBI targets mixers: Hodler’s Digest, April 28 – May 4 

Top Stories This Week Ex-Binance CEO Changpeng Zhao sentenced to four months in prison Former Binance CEO Changpeng “CZ” Zhao has been sentenced to four months in...

More than half of the Fortune 100 uses Apple’s Vision Pro headset

Spatial computing in the industrial metaverse appears to be paying off for the company that Steve Jobs built. News Own this piece of crypto history Collect this article...

Vodafone looks to integrate crypto wallets with sim cards

The telecom company is reportedly seeking $1.8 billion in loans amid a plan to raise a total of $2.9 billion in debt News Own this piece of...

Bitcoin opens $63K futures gap as thin liquidity threatens BTC price

Bitcoin market participants are doubting the staying power of the ongoing BTC price relief bounce. Market Update Own this piece of crypto history Collect this article as NFT Join...

Beste exchanges

Koop je crypto bij Bitvavo