Polygon CEO Marc Boiron emphasised that the event of Layer 3 protocols will not be thought-about for Layer 2 networks as a result of they pose potential dangers to the safety of Ethereum.
Boiron made this announcement in opposition to the backdrop of the early success of Degen Chain, a layer 3 community working on Base, a scaling resolution powered by Coinbase.
Layer 3 protocols improve scalability by establishing Layer 2 infrastructure, permitting builders to customise application-specific blockchains based mostly on their wants.
Dejin chain
Degen Chain is a layer 3 community constructed for DEGEN tokens utilizing Arbitrum Orbit. The digital asset has rapidly turn out to be the first social token amongst customers of Farcaster, a quickly increasing web3 social media platform.
Since its launch on March 28, the community has attracted vital consideration and buying and selling exercise from the crypto business, with a powerful enhance of over 200% previously week.
Obtainable information signifies that the community has facilitated greater than $30 million in bridges whereas additionally offering 3.5 million transactions As of March 30.
Neighborhood Debate Tier 3
Degen Chain’s early success has sparked debate inside the crypto group, who’ve differing views on the community.
In a March 31 submit on X (previously Twitter), Boiron asserted that layer 3 networks transfer worth from Ethereum to the layer 2 platforms that host them.
In response to him, such a trajectory is inconsistent with Polygon’s dedication to Ethereum scaling, which the corporate has already addressed by its proof-of-stake (PoS) and zero-knowledge Ethereum Digital Machine (zkEVM) chains.
Moreover, Boiron identified the potential downsides of adopting Layer-3, highlighting its minimal efficiency enhancements and imminent threats to Ethereum’s safety. He stated:
“If all L3 boils down to 1 L2, then Ethereum will basically don’t have any worth and subsequently, Ethereum safety will probably be in danger.”
He added:
“If Ethereum doesn’t earn any charges, and has no prospect of incomes any charges apart from a small charge from this L2, then the worth of ETH will fall, and when it turns into clear it is going to proceed to fall, as a result of there isn’t any financial system Sooner or later, validators will now not be keen to carry ETH and subsequently will now not be keen to guard the community.”
In the meantime, blockchain professional Cygaar explained As a result of current challenges similar to community centralization, upgradable bridging contracts, and growing proof-of-proof methods, layer 2 networks should not but “mature” and haven’t but inherited Ethereum’s safety ranges.
Due to this fact, he believes that integrating layer 3 networks into layer 2 networks could exacerbate dangers and compromise the safety of those blockchain networks.
