Crypto news: the launch of Alpha marks the activation of the decentralized sequencer of Metis, representing a significant step forward for the scalability of Ethereum through the implementation of this milestone.
Let’s see below all the details.
Summary
Metis Crypto Sequencer: Steps Forward for Ethereum
As anticipated, Metis, the Layer-2 scalability platform of Ethereum comparable to the EVM, has launched the Alpha version of its innovative Decentralized Sequencer. This marks a significant step towards the decentralization of rollups.
The decentralized Sequencer represents a significant advancement compared to the single sequencer model currently adopted by other Layer-2 rollup solutions.
This launch positions Metis as the first rollup of Ethereum to adopt a decentralized approach to its sequencer. Rollups represent one of the most promising scalability solutions, but currently they have some drawbacks.
To fully ensure the security of Ethereum, a decentralized fraud/validity proof system and a decentralized sequencer are needed.
So far, no other rollup has focused on the decentralization of the sequencer, making them vulnerable to single points of failure and potentially subject to censorship.
With this new feature, instead, by keeping control over a single sequencer, the foundations maintain almost total control over the network and its revenues.
Security, fairness, and community involvement in the crypto network
The adoption of a decentralized sequencer by Metis allows multiple entities to manage the sequencers. This improves the security and decentralization of the network and enables a more equitable revenue sharing with users.
A distributed sequencer also paves the way for crucial functions such as seamless and secure sequencer rotation, the ejection of malfunctioning or harmful entities, and increased network stability.
Users can contribute to maintaining the decentralization, transparency, and stability of the network by becoming sequencers and participating in the consensus process.
The participation of multiple entities makes it more difficult for malicious actors to control or compromise the order of transactions.
The Sequencer nodes can earn rewards in METIS tokens for their role in block production and transaction processing within the network.
Active participation from the community can lead to greater recognition within the group, paving the way for future collaborations or potential partnerships.
Furthermore, during the first year, all sequencer nodes will benefit from a Mining Rewards Rate (MRR) of 20%.
Metis gets a price rally with listing on Binance
Metis has experienced a significant increase of about 27-30% after the announcement of its inclusion on the Binance trading platform.
The inclusion on Binance of the crypto has effectively introduced the project to a wide range of traders and investors, increasing its liquidity and accessibility.
The surge in the token price can be attributed to various factors, including the increase in visibility and credibility resulting from being listed on Binance, as well as the growing market interest in Layer 2 scalability solutions like Metis.
Particularly significant is the fact that Binance has waived the listing fee for Metis, demonstrating confidence in the potential of the project and commitment to promoting innovation in the cryptocurrency sector.
The designation of “Seed Tag” conferred to Metis by Binance highlights its status as an innovative project, which could involve greater volatility and risks compared to other listed tokens.
The increase in Metis prices and its listing on Binance have coincided with a broader recovery in the cryptocurrency market.
Bitcoin has recently surpassed its previous all-time high, exceeding $71,000.
On the other hand, Ethereum has temporarily exceeded $4,000, further contributing to the bullish sentiment around Metis and other promising blockchain projects.
