Ethereum founder Vitalik Buterin had kind words for Coinbase’s incubated L2 Base on Tuesday, saying the network is “doing things the right way.”
Buterin argued the network has been using its centralized aspects to provide better UX for users while still relying on Ethereum’s decentralized base layer for security.
“I feel like many people have been confused by recent cynicism and think that things like L2Beat are a weird sort of nerd-sharia compliance authority,” Buterin added. “This is NOT what is going on. The security that L2s provide, that L2Beat measures, reflects concrete properties that protect you as a user from being rugged.”
An L2, or layer-2, is a network built on top of another blockchain—in this case, Ethereum. They’re designed to process transactions in batches off of a mainnet, usually faster and cheaper, and then send confirmation back to the L1.
After debuting in August 2023, the network has grown to hold $15 billion worth of assets. That’s not an all-time high, though. In January, May, and a few times over the summer, the total value of assets on the network has inched above $16 billion.
Other popular Ethereum L2s include Arbitrum and Optimism. In fact, Base was built with the OP Stack, which is the open source tech framework developed by Optimism.
Despite using an open source tech stack, Base has still been criticized for having been incubated by a centralized exchange. One of the common narratives has been that because it’s centralized, Base could theoretically steal all user funds.
“Base CAN instantly steal ALL user funds,” wrote CyberCapital founder and CIO Justin Bons in response to Buterin’s praise on X. “The SC admin key is controlled by a “security council.”
Buterin highlighted the popular L2 analytics project, L2Beat, which tracks security, throughput, and active users on L2 networks. When Base proponents have used data on the site to defend the network, detractors instead turned to criticizing the L2 data project.
“This is what we mean when we say that L2s are non-custodial,” Buterin said, “they are extensions of Ethereum, not glorified servers that happen to submit hashes.”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
