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 that L2s nonetheless face main security dangers.

How a lot worth do the very best Ethereum L2s have?

Arbitrum, Base, Optimism and Worldchain collectively safe greater than $35 billion in complete worth.

Ethereums [ETH] layer 2 networks are below scrutiny after a public conflict between co-founder Vitalik Buterin and Solana’s [SOL] Anatoly Yakovenko.

The controversy is about security; Whereas L2s are meant to inherit Ethereum’s protections, some argue they introduce new dangers. The dispute has sparked debate amongst builders and buyers about whether or not these scaling options are as safe 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 protected towards 51% assaults as a result of they inherit the finality of Ethereum’s base layer. Nevertheless, Buterin warned that dangers come up when validator units start to carry out features past Ethereum’s direct management, which may undermine these ensures.

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His feedback come as prime L2s personal greater than $35 billion in TVL, backed by Ethereum’s million-plus validators.

Yakovenko challenges the story

Nevertheless, there was one loudly opposing opinion.

Solana’s Anatoly Yakovenko rejected Buterin’s claims are ‘false’, arguing that after years of improvement, L2s nonetheless face the identical worst-case dangers as chain bridges similar to Wormhole.

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Moreover, an Ethereum supporter disagreed with Yakovenko, saying there’s “nothing elementary” stopping L2s from inheriting Ethereum’s safety. In addition they argued that Stage 2 L2s already act as vault contracts with full L1 safety and that Yakovenko’s criticism ignores ongoing upgrades.

Yakovenko pushed again, insisting that there’s something “elementary” that also makes it tough for L2s to attain full security.

A problem, he stated, that is still unresolved even after 5 years.

ETH vs SOL: The previous yr

Over the previous yr, Ethereum and Solana have proven related value tendencies, with costs rising and falling nearly in sync. Ethereum gained about 15.45%, whereas Solana rose 7.39%.

Supply: TradingView

Each noticed robust rallies in the course of the yr earlier than cooling off in September, then slowly recovering till late October.

On the time of writing, Ethereum solely had a small lead.