Anatoly Yakovenko, co-founder of Solana, questioned the decentralization and security of Ethereum’s Layer 2 (L2) scaling networks during a heated debate on Sunday.
Layer 2 metrics networks have a huge attack surface and code bases that are too large to be properly audited for software bugs. User funds can also be transferred from L2s, which rely on multi-signature custody, without users’ consent, Yakovenko said He added.
“The claim that the second layer inherits the security of ETH is false,” Yakovenko said He said During the discussion. He said:
“Five years into the L2 roadmap, an ETH wormhole on Solana faces the same worse risks as ETH on Base and generates the same amount of revenue for ETH L1 stakeholders. It’s wrong no matter how you slice it.”
The conversation surrounding Ethereum’s Layer 2 scaling networks continues, as developers, investors, and industry executives debate whether Layer 2 networks benefit or hurt the Ethereum Layer 1 blockchain.
Related to: Ethereum Layer 2s Outperform Cryptocurrency Dilution Rally After $19 Billion Crash
Are there too many Ethereum Layer 2 networks?
There are 129 verified Layer 2 Ethereum networks at the time of writing, according to L2BeatAnd 29 measurable networks that the site has not yet reviewed.
The blockchain industry has approximately 10 times more L2s than is needed, according to
Adrian Brink, co-founder of Anoma, a layer-one blockchain protocol.
There can never be too many L2 languages, said Igor Mandrygin, co-founder of Web3 and blockchain infrastructure provider Gateway.fm.
Mandergen said the explosion of L2 networks is a healthy sign for Ethereum that indicates network growth and increased diversity in the ecosystem.
Anurag Arjun, co-founder of Avail, a unified chain abstraction solution and Polygon Layer-2 network, agrees, telling Cointelegraph that each Ethereum L2 represents a high-throughput blockchain, giving Ethereum several high-throughput options.
However, the proliferation of these layer-2 networks is cannibalizing revenue on Ethereum’s base layer, according to Binance research.
These networks fragment liquidity and eat into base-layer revenue due to lower transaction fees compared to transactions on the first layer of the blockchain, the researchers wrote.
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The post L2s Are And Not Backed By Ethereum’s Base Layer Security: Solana founder first appeared on Investorempires.com.
