Crypto venture capital giant Andreessen Horowitz (a16z) has unveiled its latest contribution to the world of Ethereum scaling.
On April 19, the VC giant announced Magi, a new rollup client for the Ethereum layer-2 ecosystem, Optimism.
It stated that client diversity is important for Ethereum, and it is critically important for layer-2 and rollups.
“Multiple independent client implementations can help ensure the safety and liveliness of the network,” the firm noted.
The software acts as the consensus client feeding new blocks to the execution client in order to advance the chain.
Optimism Ecosystem Growth
The firm said that there was one rollup client implementation at the moment; op-node. Magi will be an independently developed, drop-in replacement for op-node, adding to the rollup’s client diversity, it said before adding:
“We hope that building out this new, Rust-based client will encourage greater safety and liveliness throughout the OP Stack, and bring more contributors into the ecosystem.”
Arbitrum One is the L2 market leader with a share of 66% from a TVL of $6.58 billion.
TVL for the entire L2 ecosystem is just below $10 billion and cooling from an all-time high this week as crypto markets correct.
Crypto Markets Retreat
Crypto markets commenced their long-overdue correction during the Thursday morning Asian trading session. As a result, total market capitalization had declined by 5% to $1.26 trillion, according to CoinGecko.