Polygon CEO Marc Boiron stated emphatically that the Layer 2 network was not considering developing Layer 3 protocols due to the potential risks they pose to ethereum's security.
Boiron made this statement thanks to the initial success of Degen Chain, a Layer 3 network running on the Base scaling solution, backed by Coinbase.
Layer 3 protocols improve scalability by building on top of Layer 2 infrastructure, allowing developers to tailor specific application blockchains to their requirements.
degenerative chain
Degen Chain is a layer 3 network built using Arbitrum Orbit for the DEGEN token. The digital asset has quickly become the leading community token among users of Farcaster, the rapidly expanding web3 social media platform.
Since its launch on March 28, the network has garnered substantial attention and transactional activity within the crypto industry, witnessing an impressive surge of over 200% in the past week.
The available data indicate that the network has facilitated the x.com/syndicateio/status/1774269868642382045?s=20″>bridge of more than 30 million dollarsin addition to controlling twitter.com/syndicateio/status/1774090950480179333″>3.5 million transactions starting March 30.
Community discussions layer 3
Degen Chain's early successes have sparked debates in the crypto community, who have different views on the network.
On March 31 x.com/0xMarcB/status/1774551016937324949?s=20″>mail On x (formerly twitter), Boiron claimed that Layer 3 networks divert value from ethereum to the Layer 2 platforms that host them.
According to him, such a trajectory does not align with Polygon's commitment to ethereum scaling, which the company already addresses through its proof-of-stake (PoS) and zero-knowledge ethereum virtual machine (zkEVM) chains.
Additionally, Boiron pointed out the potential adverse effects of Layer 3 adoption, highlighting its minimal performance improvements and the imminent threat to ethereum's security. He said:
“If all L3s were set to an L2, then ethereum would basically not capture any value and therefore the security of ethereum would be at risk.”
He added:
“If ethereum does not earn fees and has no prospect of earning more than a small amount of fees from this L2, then the value of eth will fall and when it is clear it will continue to fall because there is no economic benefit.” In the future, validators will no longer be willing to hold eth and therefore will no longer be willing to secure the network.”
Meanwhile, blockchain expert Cygaar twitter.com/0xcygaar/status/1774646114358067388?s=46&t=aw6ZR-6aD050XLPVXY8AQA”>explained that layer 2 networks are not yet “matured” and have not yet inherited the security level of ethereum due to existing challenges such as network centralization, upgradeable bridge contracts, and the development of test systems.
Consequently, he argued that the integration of layer 3 networks on top of layer 2 ones could exacerbate the risks and compromise the security of these blockchain networks.
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