CryptoNews

Polygon CEO: L3s Might Represent a Threat to Ethereum’s Security

Polygon: A Look into the Rise of Layer 3 Scaling on Ethereum

Marc Boiron, CEO of Polygon, an Ethereum-compatible sidechain scaling solution, gave his take on the rise of Layer 3 (L3) scaling structures in the Ethereum ecosystem. According to Boiron, L3s only take value away from Ethereum’s chain and concentrate it in their corresponding base L2, creating a security risk for the network.

Polygon CEO Criticizes Rise of L3 Ethereum Scaling Solutions

Marc Boiron, CEO of Polygon, has warned about the effect that Layer 3 (L3) structures might have on the Ethereum ecosystem. On social media, Boiron referred to L3s, scaling solutions that pass all of their data and transactions in a single Ethereum rollup, as elements that might endanger the future of the Eth blockchain, siphoning value away from the base layer.

Boiron stated:

I’ll 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.

Furthermore, Boiron specified that L3s were not needed for scaling Ethereum, and detailed that Polygon Labs has no intention of bringing any L3 to the market.

Degen, one of the first L3s built on top of Base, Coinbase’s incubated Ethereum rollup, has garnered attention from crypto crowds, registering more than $100 million in volume in more than 270,000 transactions in four days since its launch. This also has helped Base to reach record total value locked (TVL) and activity levels, aided by a surge in meme coin tokens in both networks.

Boiron detailed the effects of L3s value siphoning attacks on security model, stating that if several L3s concentrated on just one L2 solution, Ethereum ecosystem would suffer from capturing “basically no value at all.” He stressed that this could create an avalanche effect, given that the value will likely drop from the lack of fee earnings. This, consequently, would gradually make validators abandon the network, hurting its overall security.

Source: Bitcoin

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