Polygon CEO Marc Boiron strongly acknowledged that the Layer 2 community just isn’t contemplating the event of Layer 3 protocols because of the potential dangers they pose to Ethereum’s safety.
Boiron made the announcement on the again of the early success of Degen Chain, a Layer 3 community operating on a Coinbase-backed scaling answer.
Layer 3 protocols enhance scalability by constructing on Layer 2 infrastructure, permitting builders to tailor application-specific blockchains to their necessities.
Degen’s chain
Degen Chain is a layer 3 community constructed utilizing Arbitrum Orbit for the DEGEN token. The digital asset has shortly emerged as the first group token amongst customers of Farcaster, the quickly increasing web3 social media platform.
Since its launch on March twenty eighth, the community has gained vital consideration and transaction exercise throughout the crypto trade, witnessing a powerful enhance of over 200% up to now week.
Obtainable figures point out that the community has enabled bridging of greater than $30 million together with energy 3.5 million transactions as of March 30.
Group dialogue layer-3
Degen Chain’s early successes have attracted debate from the crypto group, which has blended views on the community.
In a March 31 publish on X (previously Twitter), Boiron claimed that Layer 3 networks siphon worth from Ethereum to the Layer 2 platforms that host them.
In keeping with him, such a trajectory is inconsistent with Polygon’s dedication to scaling Ethereum, which the corporate is already addressing via its proof-of-stake (PoS) chains and zero-knowledge Ethereum Digital Machine (zkEVM).
As well as, Boiron identified the potential hostile results of adopting Layer 3, highlighting their minimal efficiency enhancements and the upcoming risk to Ethereum’s safety. He mentioned:
“If all L3s settled on one L2, then Ethereum would acquire basically no worth, and thus the safety of Ethereum could be compromised.”
Added by:
“If Ethereum earns no charges and has no prospect of incomes something aside from a small quantity of charges from this one L2, then the worth of ETH will drop, and when it turns into clear that it’ll proceed to drop as a result of there isn’t any financial Sooner or later, validators will not prepared to carry ETH and subsequently will not be prepared to safe the community.”
In the meantime, blockchain knowledgeable Cygaar he defined that Layer 2 networks aren’t but “mature” and have but to inherit Ethereum’s degree of safety as a result of current points equivalent to community centralization, upgradeable bridge contracts, and the event of trial methods.
Because of this, he argued that the combination of layer 3 networks on high of layer 2 might exacerbate the dangers and compromise the safety of those blockchain networks.
Talked about on this article
