Solana co-founder Anatoly Yakovenko questioned the decentralization and security of Ethereum's Layer 2 (L2) scaling networks during a heated debate on Sunday.
Layer 2 scaling networks have a massive attack surface, with codebases so large that proper auditing for software vulnerabilities is nearly impossible. Yakovenko added that user funds could also be transferred from L2s relying on multi-signature custody without user consent.
"The claim that L2 inherits ETH security is erroneous," Yakovenko stated during the debate. He argued:
Discussions surrounding Ethereum's Layer 2 scaling networks are ongoing, with developers, investors, and industry executives debating whether L2 networks are beneficial to the Ethereum Layer 1 blockchain or detrimental to it.
According to L2Beat, as of the time of writing, there are 129 verified Ethereum Layer 2 networks, along with 29 scaling networks that have yet to be reviewed by the site.
Adrian Brink, co-founder of the Layer 1 blockchain protocol Anoma, stated that the number of L2s in the blockchain industry is about ten times more than what is actually needed.
Igor Mandrigin, co-founder of Web3 and blockchain infrastructure provider Gateway.fm, believes that there can never be too many L2s.
Mandrigin stated that the explosive growth of L2 networks is a healthy sign for Ethereum, indicating increased network growth and ecosystem diversity.
Anurag Arjun, co-founder of the unified chain abstraction solution Avail and Polygon's Layer 2 network, agreed and told Cointelegraph that each Ethereum L2 represents a high-throughput blockchain, providing numerous high-throughput options for Ethereum.
However, according to a report from Binance Research, the surge of these Layer 2 networks is eroding the revenue of Ethereum's base layer.
Researchers wrote that because the transaction fees on these networks are significantly lower than those on the Layer 1 blockchain, they are diverting liquidity and eroding the revenue of the base layer.
Related: A16z raises $10 billion new fund focusing on AI and defense, with the cryptocurrency sector unexpectedly absent
Original article: “Solana Co-founder: The Claim That L2 Inherits ETH Security Is Erroneous”
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