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HomeCoins NewsBlockchainPolygon's CEO criticizes Layer 3 networks and warns of potential dangers

Polygon’s CEO criticizes Layer 3 networks and warns of potential dangers

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  • Polygon Labs CEO Marc Boiron raises his voice in opposition to Layer 3 networks in his latest X put up.
  • Boiron warns that L3 networks will take away Ethereum’s worth and pose potential safety dangers.
  • The criticism follows Degen’s low-cost L3 blockchain memecoin undertaking, Degen Chain.

Polygon Labs CEO Marc Boiron reportedly condemned Layer 3 networks in a latest X put up. He highlighted the potential dangers of Ethereum dropping safety with L3’s advances.

Boiron’s criticism comes on the heels of the Degen ecosystem’s launch of Degen Chain, a low-cost Layer 3 blockchain. The Base community’s Degen memecoin undertaking not too long ago launched Degen Chain, constructed utilizing Arbitrum Orbit and AnyTrust DA. Whereas the undertaking acquired wider acceptance from the general public, it was criticized by some distinguished figures together with the CEO of Polygon Labs.

In response to Boiron, the introduction of L3 will finally nullify the worth of Ethereum. He argued that the existence of L3 will solely contribute to “taking worth away from Ethereum and the L2s that the L3s are constructed on.”

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The CEO of Polygon Labs highlighted L3 as a futile and disappointing begin, stating, β€œYou do not want L3 to scale. He additional acknowledged publicly that Polygon Labs would by no means undertake Layer 3 networks.

Nonetheless, not everybody agreed together with his views. OxWenMoon, a distinguished voice within the blockchain area, responded to Boiron’s put up, stating:

β€œI do not suppose it is right, however even assuming it’s, there isn’t a such factor as “draining worth from Ethereum to L2”. L2s on Ethereum ARE worth on Ethereum.”

Though Boiron agreed that L2s are Ethereum, he disagreed with the concept that L2 values ​​are Ethereum values. Reinforcing his concepts, he acknowledged, β€œIf all L3s settled on one L2, then Ethereum would achieve basically no worth, and thus the safety of Ethereum can be compromised.

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