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What is Metis?

Metis is a permissionless Ethereum Layer 2 network designed to power the next generation of decentralised applications. It aims to address the blockchain trilemma by enhancing scalability, decentralisation, and security, specifically targeting issues related to speed, cost, and scalability on the Ethereum network.

How does Metis work?

Metis operates using a Layer 2 architecture that utilises Optimistic Rollups and Zero-Knowledge Proofs (ZKPs) to offload transaction processing from the Ethereum mainnet to a secondary layer. This reduces transaction costs and increases processing speed. The platform incorporates a staking mechanism where validators stake METIS tokens to validate transactions. It also employs Merkle Tree algorithms for efficient transaction processing and verification, and supports smart contract deployment.

What are the potential use cases for Metis?

Metis can be utilised across various sectors including:

• Gaming DApps: Providing fast and scalable solutions for gaming platforms.
• Supply Chain Management: Enhancing efficiency and transparency in logistics.
• Decentralised Finance (DeFi): Facilitating low-cost and scalable financial services.
• Decentralised Autonomous Companies (DACs): Enabling DACs to operate in a decentralised environment.

What is the history of Metis?

Founded by Elena Sinelnikova in 2019, Metis developed its Layer 2 scaling solution focusing on optimistic rollups and zero-knowledge rollups. The METIS token was launched in December 2020. Over the years, Metis has introduced features like an NFT bridge and storage solution, integrated significant technologies such as Chainlink's CCIP, and launched initiatives like the Builder Mining Program to encourage network use.