{"id":275186,"date":"2024-04-01T11:26:13","date_gmt":"2024-04-01T05:56:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=275186"},"modified":"2024-04-01T11:26:13","modified_gmt":"2024-04-01T05:56:13","slug":"polygon-labs-ceo-attacks-layer-3-networks-saying-they-devalue-ethereum-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polygon-labs-ceo-attacks-layer-3-networks-saying-they-devalue-ethereum-crypto-news\/","title":{"rendered":"Polygon Labs CEO Attacks Layer 3 Networks, Saying They Devalue Ethereum – Crypto News"},"content":{"rendered":"

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In the latest discussion on social media platform X, Polygon CEO Marc Boiron lashed out at the Layer 3 networks gaining much prominence in recent times. As per Boiron, L3s aren\u2019t necessary to scale Ethereum but instead would prove to be a burden on the network.<\/p>\n

L3s Take Value Away From Ethereum<\/h3>\n

Boiron asserted that L3s primarily function to divert value away from Ethereum and onto the Layer 2 solutions<\/a> (L2s) they are built upon. He emphasized that scaling Ethereum does not necessitate the implementation of L3s.<\/p>\n

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I\u2019ll say the quiet part out loud: L3s exist only to take value away from Ethereum and onto the L2s on which the L3s are built. <\/p>\n

*You do not need L3s to scale*<\/p>\n

And this is why Polygon Labs does not work on L3s.<\/p>\n

<\/p>\n

\u2014 Marc Boiron (@0xMarcB) March 31, 2024<\/a><\/p>\n<\/blockquote>\n

Boiron further explained that Polygon Labs does not engage in the development of L3s. While acknowledging the significance of L2s in the Ethereum network, he disagreed with the notion that L2 value equates to Ethereum value. He illustrated the potential risk to Ethereum\u2019s security if all L3s settled on a single L2, as it would diminish Ethereum\u2019s value capture and jeopardize its economic sustainability.<\/p>\n

In Boiron\u2019s view, if Ethereum ceased to generate fees and lacked prospects for fee generation beyond a single L2, the value of ETH would decline. This scenario could lead validators to lose confidence in ETH, resulting in a decline in network security as validators withdraw from securing the network.<\/p>\n

Debate Over the Benefits of L3s Grow<\/h3>\n

<\/p>\n

Peter Haymond, one of the community members responsible for building scaling solutions for Ethereum argued that Layer 3s come with a bunch of benefits and don\u2019t take away value from Ethereum necessarily.<\/p>\n

\n

There\u2019s a bunch of benefits for L3\u2019s. They don\u2019t take away value from Ethereum. https:\/\/t.co\/IFD6cvzKzk<\/a><\/p>\n

\u2014 Peter Haymond \ud83d\udee1\ufe0f (@peterhaymond) March 31, 2024<\/a><\/p>\n<\/blockquote>\n

Boiron highlighted several factors regarding the benefits of Layer 2 (L2) solutions, emphasizing the importance of native bridging\u2019s low cost. While acknowledging its advantages, he also noted the economic and security costs associated with relying on other bridges, which could result in delays in the use of capital or require payments for expedited capital usage.<\/p>\n

<\/p>\n

Additionally, he questioned the perceived benefits of a low cost of challenge or proving, suggesting that it might not hold true given proof aggregation. Similarly, Boiron dismissed the notion of custom gas token as a true benefit, pointing out its availability for L2s on Polygon CDK.<\/p>\n

Finally, he categorized other potential benefits as not truly exclusive to L2s, as they are also available for L2s, as previously mentioned.<\/p>\n

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\u2713 Share:<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In the latest discussion on social media platform X, Polygon CEO Marc Boiron lashed out at the Layer 3 networks gaining much prominence in recent times. As per Boiron, L3s aren\u2019t necessary to scale Ethereum but instead would prove to be a burden on the network. L3s Take Value Away From Ethereum Boiron asserted that […]<\/p>\n","protected":false},"author":2,"featured_media":262054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-275186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=275186"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275186\/revisions"}],"predecessor-version":[{"id":275188,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275186\/revisions\/275188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/262054"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=275186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=275186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=275186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}