On Cointelegraph episode 13 hacking it out podcast, Elisha Owusu Akyaw sits down with Metis co-founder Elena Sinelnikova. Metis is an Ethereum-based Optimistic Rollup to explore the world of Layer 2 blockchain technology and its potential impact on decentralization, scalability, and real-world applications. Sinelnikova shares her unique insights and experiences in the rapidly evolving blockchain space and gives us an insight into the future of Metis-powered Decentralized Autonomous Organizations (DAOs).
The conversation begins with Sinelnikova providing a comprehensive introduction to Metis, its mission, and the challenges it aims to address in today’s blockchain landscape. Below, she delves into the limitations of layer 1 of Ethereum, highlighting issues like high gas fees, congestion, and slow transaction times. Sinelnikova explains how Metis leverages Layer 2 technology to overcome these obstacles, enabling faster, more efficient, and more cost-effective transactions for users and developers.
Metis is built on the Optimism code base. Sinelnikova explains that while the Metis team believes Optimism is on the right track, the team needed to make some code changes to create a more efficient platform for the Web3 economy.
“You see, Metis fees are much lower than Optimism fees. We needed these lower rates for the enterprise level, so that enterprise-level applications can use Metis more easily than Optimism.”
Below, Akyaw and Sinelnikova discuss the importance of decentralization in the blockchain ecosystem. Metis intends to use its unique approach to building and supporting decentralized autonomous organizations (DAOs) to shape the future of work and collaboration. Furthermore, Sinelnikova emphasizes the role of Metis in empowering individuals and companies to create, manage and scale their DAOs, thus fostering a more inclusive and transparent decentralized economy.
Related: Africa: The next hub for Bitcoin, crypto adoption and venture capital?
This episode also explores the topic of adoption and education. Sinelnikova believes that the most important thing is not to get new users to use cryptocurrencies, but to protect users who have already ventured into cryptocurrencies through extensive education.
Finally, Sinelnikova discusses the future of Metis and layer 2 blockchain technology, outlining the vision for the platform’s continued development and growth.
Listen to the latest episode of hacking it out with Elena Sinelnikova in Spotify, Apple Podcasts, Google Podcastseither Tune in. You can also check out Cointelegraph’s full catalog of informational podcasts on the Cointelegraph Podcasts page.
