Metis Launches Alpha Version of Decentralized Sequencer

The introduction of the decentralized sequencer will help Metis complete its decentralization roadmap, addressing a common issue among many layer-2 solutions today.

Metis (METIS), a layer-2 solution built on Ethereum, has launched the alpha version of its decentralized sequencer. This represents a significant improvement over the centralized sequencers currently used by many other rollups.

While rollup-based layer-2 solutions are recognized for scaling Ethereum, increasing transaction speed, and reducing user fees—especially after the Dencun upgrade on March 13—they have faced criticisms for centralization issues, such as centralized sequencers and provers that are often controlled by project teams to ensure security.

Sequencers collect and organize transaction data on layer-2 before sending it back to the Ethereum mainnet. Provers, on the other hand, generate cryptographic proofs to validate transactions without the need to revert to the original blockchain. The centralization of these functions creates single points of failure, which could compromise the network's security and user privacy if issues arise.

Metis claims to be the first Ethereum layer-2 to deploy a decentralized sequencer. The development team believes that for rollups to fully inherit Ethereum's security, they must implement both decentralized sequencers and fraud proofs.

Metis's decentralized sequencer allows multiple independent entities to operate sequencers on the network, reducing dependency and concentrating power within the project. The sequencer role can rotate over time, minimizing the risk of single points of failure being targeted by potential attacks. Sequencer nodes will be incentivized with METIS tokens to participate in transaction processing on the layer-2, with rewards reaching up to 20% in the first year.

However, Metis's decentralized sequencer is currently in the alpha stage, with limited user access for testing, bug fixing, and feedback collection.

The price of METIS tokens remained stable following the announcement of the decentralized sequencer launch.

1-hour chart of METIS/USDT on Binance as of 00:10 AM, March 15, 2024