What is Op Stack? OP-Chains and Supperchain overview

1. Op Stack

1.1. What is OP Stack?

OP Stack, developed by Optimism, serves as an open-source toolkit simplifying the creation of Layer 2 solutions using Rollup technology. This toolkit offers customizable and time-saving development, reducing deployment costs compared to constructing a project from the ground up.

Chains established through OP Stack are termed "OP-Chains," with Optimism Bedrock serving as the initial version of OP Stack.

OP Stack seeks to standardize Optimism's structure into a modular blockchain model. This modular architecture allows developers to easily customize for specific purposes by modifying, adding, or removing features.

These modules will be closely integrated with Ethereum's infrastructure. A standard OP-Chain will be considered a blockchain with smart contract rollups built on the Ethereum platform, providing Ethereum equivalence in execution.

1.2. OP Stack architecture

The overall structure of OP Stack is comprised of five primary elements: Data Availability Layer, Sequencing Layer, Derivation Layer, Execution Layer, Settlement Layer, and Governance Layer.

Data Availability Layer:

The Data Availability Layer serves as the repository for input data on the OP-Chain. OP-Chains can utilize one or multiple Data Availability (DA) modules to provide input data. This is crucial because if a specific piece of data cannot be extracted from the DA, network synchronization becomes infeasible.

Moving towards the new model, Ethereum presently operates as a Data Availability (DA) layer for OP Stack. Alternatively, OP-Chains have the option of using Celestia to perform the same function.

Sequencing Layer:

In the Sequencing Layer, the gathering of user transactions on the OP-Chain takes place before being dispatched to the Data Availability Layer (DA).

In the current default configuration of OP Stack Rollups, sequencing is handled by a single sequencer (Single Sequencer). This highlights that layer 2 is not entirely decentralized, as authority is concentrated in a single sequencer.

OP Stack plans to deploy multiple sequencers (Multiple Sequencers) in the future instead of the current Single Sequencer model to address this concern.

For OP-Chains that prefer not to operate their own sequencers, they can pay fees to use Optimism's sequencer. Optimism will generate additional revenue from these OP-Chains.

Derivation Layer:

In the Derivation Layer, the processing of raw data within the DA takes place to generate complete data. Subsequently, it is sent to the Execution Layer through the APIs of the Ethereum Engine.

Execution Layer:

Users typically interact with the Execution Layer through a user interface for actions like confirming transactions, signing transactions, and deploying smart contracts. The execution relies on the Ethereum Virtual Machine (EVM). However, if a user wishes to change this execution to another virtual machine, such as FuelVM from Fuel Network, it is entirely feasible with OP Stack.

Settlement Layer:

The Settlement Layer is where the verification of Rollups transactions and resolution of disputes occur. OP Stack allows for one or multiple settlement mechanisms. These mechanisms only permit reading and enable parties to make decisions based on the OP-Chain's status.

Governance Layer

The Governance Layer plays a crucial role in managing decisions related to default configurations, system upgrades, and more. This layer comprises two key components:

Multisig: This is a widely used mechanism in project management. Smart contracts under Multisig execute requests when they receive over 50% of signatures from a pre-defined group. These contracts are often employed to oversee the upgrading of system components based on OP Stack.
Governance Tokens: Another prevalent mechanism in the market, Governance Tokens allow owners to vote on proposed changes.

2. Superchain

2.1. What is Superchain?

Superchain is a network comprising interconnected OP-Chains, where the blockchains built on the OP Stack share security and interact with each other through the "Cross-chain messaging protocol." For Optimism to evolve into a Superchain, it requires the following elements:

Information Sharing with L1: Providing the sequence of transactions across all OP-Chains.
Shared Bridge for OP-Chains: Allowing OP-Chains to have standardized security attributes.
Cost-Effective OP-Chain Deployment: Enabling deployment and transactions on OP-Chains without incurring high transaction fees on L1.
Configurational Options for Each OP-Chain: Allowing each OP-Chain to customize configurations related to DA, sequencer, etc.
Secure Transactions and Cross-Chain Interaction: Permitting users to safely transfer assets between OP-Chains.

2.2. Superchain Ecosystem

OP Stack has attracted numerous projects with its open-source advantage and easy deployment at a low cost:

BASE by Coinbase
OPBNB by Binance
WorldCoin
Magi
Debank
Mode Network
Celo
Zora Network
Lyra Finance
Metis
Mantle
Aevo
Peer Protocol
Unidex

BASE has successfully deployed with impressive TVL growth, ranking 5th in TVL according to L2beat among them.

*Base ranked 5th in TVL according to L2Beat*

Base has committed 10% of sequencer revenue to support the Optimism Collective, and OPBNB is set to commence in early September. However, there is currently no detailed information available for other L2s and Appchains.

*OP-Chains shares revenue with Optimism Collective*

2.3. What Makes Superchain Attractive?

Despite being recently launched, OP Stack has attracted the interest of 13 implemented projects, including notable entities such as Coinbase, BNB, and Celo.

First Impressions: In comparison to competing solutions like Arbitrum Orbit and Hyperchain, the name Superchain exudes a certain grandeur. Observers are likely intrigued by the assumed robustness of Optimism's technology.
Open-Source Technology and Ease of Deployment: A key advantage of OP Stack is its open-source nature and user-friendly deployment. Developers can readily create their blockchain projects without the complexities of starting from scratch, thanks to the streamlined features of OP Stack.
Pioneering Initiative: Optimism stands out as the inaugural project implementing the Superchain model in Layer 2. This pioneering status positions Optimism favorably, attracting early interest from various projects.
Success of Initial Projects: Base, one of the early OP-Chains, has achieved remarkable success since its inception, drawing substantial attention from investors. This success establishes a solid groundwork, instilling confidence in subsequent projects joining the Superchain ecosystem.

3. Conclusion

Op Stack stands out as a crucial technology within Optimism's framework for advancing the Superchain. Despite the presence of initial OP-Chains projects, both Op Stack and Superchain are still in the developmental stages. There are notable shortcomings in this model, such as excessive reliance of OP-Chains on Optimism, ambiguity regarding the interaction of OP-Chains, and notably, the native $OP token lacks a clearly defined role in this model. Expectations are high that Optimism will introduce new improvements in the near future to refine and enhance this framework.

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