Etherlink: A Decentralized, Low-Fee, Fair EVM Chain

Etherlink is a decentralized blockchain that is compatible with the Ethereum Virtual Machine (EVM), has a decentralized sequencer, and offers low transaction fees and fair transaction ordering.
Key Features:

• Decentralized Sequencer: Using a state-of-the-art consensus mechanism, Etherlink's decentralized sequencer provides high availability and built-in censorship resistance.

• Very Low Fees: At a load of 200 TPS, expect an ERC-20 transaction to cost \$0.01 on Etherlink.

• Fair Ordering: Etherlink's distributed sequencer provides maximal extractable value (MEV, also known as "sandwich attack") protection by running transactions in a fair, first-come-first-serve order for all users.

• Smart Rollups on Tezos: Etherlink uses Smart Rollups on the decentralized Tezos protocol for data availability and will expand to use the Tezos Data Availability Layer.

EVM Compatibility:

• Etherlink can run all Solidity/Vyper smart contracts just like any other EVM chain.
• Developer tooling like Hardhat, Foundry, and Viem should work out-of-the-box with Etherlink.

Smart Rollups:

• Smart Rollups are Tezos's permissionless L2 scaling solution.
• They are WASM applications, providing versatility in what language you write them in.
• They are optimistic and enshrined:
  • Optimistic means that when rollup operators publish a claim about the state of the rollup, the claim is trusted by default. Other operators can easily verify and challenge the claim, and a single honest operator is enough to ensure that the rollup is running honestly.
  • Enshrined means that they are implemented as a first-class operation at the protocol level within L1 Tezos, as opposed to using a smart contract on L1 like current Ethereum solutions.

Data Availability on Tezos:
Smart Rollups store data on Tezos layer 1, making it available to everyone.

Summary and Explanation
Etherlink is a promising new blockchain that offers a number of advantages over existing Ethereum-based chains. Its decentralized sequencer provides high availability and censorship resistance, while its low fees make it more affordable for everyday use. Additionally, its fair transaction ordering helps to protect users from MEV attacks.
Etherlink's use of Smart Rollups for data availability is also a significant advantage. Smart Rollups are a scalable and efficient way to store data off-chain, while still providing security and transparency. This makes Etherlink a more attractive option for developers who need to build high-performance applications.

Overall, Etherlink is a well-designed blockchain with the potential to become a major player in the Ethereum ecosystem. Its focus on decentralization, affordability, and fairness makes it a compelling choice for users and developers alike.

Here are some additional details about the key features of Etherlink:

• Decentralized Sequencer: Etherlink's sequencer is a decentralized application that is run by a network of nodes. This ensures that the sequencer cannot be controlled by any single entity, which helps to protect the network from censorship and manipulation.

• Low Fees: Etherlink's fees are very low, even at high transaction volumes. This makes it a more affordable option for everyday use than other Ethereum-based chains.

• Fair Transaction Ordering: Etherlink's sequencer orders transactions in a fair, first-come-first-served order. This helps to protect users from MEV attacks, which are a type of attack that can exploit the order in which transactions are processed to extract profits.

• Smart Rollups: Smart Rollups are a type of Layer 2 scaling solution that can be used to reduce the cost and congestion on Layer 1 blockchains. Etherlink uses Smart Rollups to store data off-chain, which helps to improve performance and scalability.

Etherlink is still under development, but it has the potential to become a major player in the Ethereum ecosystem. Its focus on decentralization, affordability, and fairness makes it a compelling choice for users and developers alike.