Why does Solana’s co-founder believe Ethereum’s L2 model is ‘fundamentally broken?’
Key Takeaways
Are Ethereum’s layer-2 networks actually safe?
Vitalik Buterin says sure, however Anatoly Yakovenko warns L2s nonetheless face main safety dangers.
How a lot worth do high Ethereum L2s maintain?
Arbitrum, Base, Optimism, and Worldchain collectively safe over $35 billion in complete worth locked.
Ethereum’s [ETH] layer-2 networks are beneath scrutiny after a public conflict between Co-Founder Vitalik Buterin and Solana’s [SOL] Anatoly Yakovenko.
The talk is on safety; whereas L2s are supposed to inherit Ethereum’s safety, some argue they create new dangers. The dispute has precipitated dialogue amongst builders and buyers about whether or not these scaling options are as secure as promised.
Buterin’s confidence in Ethereum’s L2 safety
AMBCrypto beforehand reported on Vitalik Buterin’s confidence within the safety mannequin of Ethereum’s layer-2 networks.
He argued that L2s stay shielded from 51% assaults since they inherit Ethereum’s base-layer finality. Nonetheless, Buterin cautioned that dangers emerge when validator units tackle features outdoors Ethereum’s direct management, which might undermine these ensures.
Supply: X
His feedback come as high L2s maintain over $35 billion in TVL, supported by Ethereum’s multiple million validators.
Yakovenko challenges the narrative
There was one loud opposing view, although.
Solana’s Anatoly Yakovenko dismissed Buterin’s claims as “faulty,” arguing that after years of improvement, L2s nonetheless face the identical worst-case dangers as cross-chain bridges like Wormhole.
Supply: X
He identified three principal flaws in present L2 designs: complicated code that will increase assault threat, multi-signature custody that may transfer funds with out person approval, and off-chain processing that centralizes management.
The truth is, he additionally steered constructing a particular bridge to make Ethereum a layer-2 for Solana, enhancing interoperability and addressing what he sees as L2s’ lingering safety points.
Supply: X
Additional, an Ethereum supporter disagreed with Yakovenko, saying there’s “nothing basic” stopping L2s from inheriting Ethereum’s safety. Additionally they argued that Stage 2 L2s already act like vault contracts with full L1 safety and that Yakovenko’s criticism ignores ongoing upgrades.
Yakovenko pushed again, insisting there’s something “basic” that also makes it arduous for L2s to succeed in full safety.
A problem, he mentioned, that continues to be unsolved even after 5 years.
ETH v SOL: The yr passed by
Over the previous yr, Ethereum and Solana have proven comparable worth traits, rising and falling virtually in sync. Ethereum gained about 15.45%, whereas Solana climbed 7.39%.
Supply: TradingView
Each noticed sturdy rallies mid-year earlier than cooling off in September, then slowly recovered into late October.
At press time, Ethereum held only a slight lead.
