METIS/USD: Convert Metis (METIS) to United States Dollar (USD)

Metis is an Ethereum Layer-2 scaling solution that aims to address the blockchain trilemma, which posits that blockchains cannot simultaneously achieve decentralization, security, and scalability. Metis seeks to overcome Ethereum's primary challenges, including speed, cost, and scalability. It provides a platform for developers to create and manage decentralized applications (dApps), and supports those who wish to build and launch new dApps. Metis also integrates the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure, aiming to facilitate the transition from Web 2.0 to Web 3.0 for developers and businesses.

Metis operates by using Optimistic Rollups, which allow users to transact quickly and inexpensively on the Ethereum blockchain. This technology batches multiple transactions into a single transaction that is then processed on Ethereum. Metis' Layer 2 infrastructure leverages Ethereum's security and decentralization to make transactions more affordable and faster. Unlike traditional systems where transaction data is stored on layer-1, Metis stores most of its transaction data off-chain, with only the minimum viable data stored on its layer-1. This off-chain data is then placed in Memolabs storage by the Sequencer, making storage substantially cheaper compared to Layer 1 like Ethereum. Metis also offers a modular framework, enabling developers to build and customize their own dApps using Metis’ infrastructure.

Metis is designed to support a wide range of use cases, particularly in the realm of decentralized applications (dApps). It aims to assist developers in creating and managing existing dApps, as well as supporting those who wish to build and launch new dApps. Metis also integrates the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure, which can help developers and businesses transition from Web 2.0 to Web 3.0. Furthermore, Metis has launched a grants program called the DAOtribution Campaign, which aims to empower contributors and communities to initiate their DACs on KORIS.

Metis was founded in 2019 by Elena Sinelnikova, Kevin Liu, and Yuan Su, but the business didn't officially launch until November 17, 2021. Sinelnikova has a background in blockchain, cybersecurity, software development, and full-stack programming, and she established other crypto projects prior to founding Metis. Kevin Liu has experience in investment management and strategic development, while Yuan Su worked as a software engineer and manager at IBM until 2019, when he co-founded Metis. On March 2, 2023, Metis announced that it was building the first-ever Hybrid Rollup by combining optimistic rollup architecture with zero-knowledge proofs.