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In the most recent dialogue on social media platform X, Polygon CEO Marc Boiron lashed out on the Layer 3 networks gaining a lot prominence in latest occasions. As per Boiron, L3s aren’t essential to scale Ethereum however as a substitute would show to be a burden on the community.

L3s Take Value Away From Ethereum

Boiron asserted that L3s primarily perform to divert worth away from Ethereum and onto the Layer 2 solutions (L2s) they’re constructed upon. He emphasised that scaling Ethereum doesn’t necessitate the implementation of L3s.

I’ll say the quiet half out loud: L3s exist solely to take worth away from Ethereum and onto the L2s on which the L3s are constructed.

*You don’t want L3s to scale*

And for this reason Polygon Labs doesn’t work on L3s.

— Marc Boiron (@0xMarcB) March 31, 2024

Boiron additional defined that Polygon Labs doesn’t have interaction within the improvement of L3s. While acknowledging the importance of L2s within the Ethereum community, he disagreed with the notion that L2 worth equates to Ethereum worth. He illustrated the potential threat to Ethereum’s safety if all L3s settled on a single L2, as it could diminish Ethereum’s worth seize and jeopardize its financial sustainability.

In Boiron’s view, if Ethereum ceased to generate charges and lacked prospects for price technology past a single L2, the worth of ETH would decline. This situation may lead validators to lose confidence in ETH, leading to a decline in community safety as validators withdraw from securing the community.

Debate Over the Benefits of L3s Grow

Peter Haymond, one of many neighborhood members answerable for constructing scaling options for Ethereum argued that Layer 3s include a bunch of advantages and don’t take away worth from Ethereum essentially.

There’s a bunch of advantages for L3’s. They don’t take away worth from Ethereum. https://t.co/IFD6cvzKzk

— Peter Haymond 🛡️ (@peterhaymond) March 31, 2024

Boiron highlighted a number of components concerning the advantages of Layer 2 (L2) options, emphasizing the significance of native bridging’s low value. While acknowledging its benefits, he additionally famous the financial and safety prices related to counting on different bridges, which might lead to delays in using capital or require funds for expedited capital utilization.

Additionally, he questioned the perceived advantages of a low value of problem or proving, suggesting that it won’t maintain true given proof aggregation. Similarly, Boiron dismissed the notion of customized gasoline token as a real profit, declaring its availability for L2s on Polygon CDK.

Finally, he categorized different potential advantages as not really unique to L2s, as they’re additionally obtainable for L2s, as beforehand talked about.

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Bhushan is a FinTech fanatic and holds an excellent aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and generally discover his culinary expertise.

The offered content material could embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.