{"id":34527,"date":"2023-12-21T01:39:15","date_gmt":"2023-12-21T01:39:15","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/12\/21\/are-ethereum-layer-2s-the-next-fraud-paradise-this-co-founder-asks-hard-questions\/"},"modified":"2023-12-21T01:39:15","modified_gmt":"2023-12-21T01:39:15","slug":"are-ethereum-layer-2s-the-next-fraud-paradise-this-co-founder-asks-hard-questions","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/12\/21\/are-ethereum-layer-2s-the-next-fraud-paradise-this-co-founder-asks-hard-questions\/","title":{"rendered":"Are Ethereum Layer-2s The Next Fraud Paradise? This Co-Founder Asks Hard Questions"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><span data-preserver-spaces=\"true\">Bartek Kiepuszewski, the co-founder of L2Beat, a portal for monitoring Ethereum layer-2 actions, is anxious concerning the safety and consistency of present off-chain scaling options, suggesting that with out fraud-proofs, there&#8217;s room for fraud and irregularities.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Focus On Optimism And Manta: What\u2019s Going On?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Taking to X on December 20, Kiepuszewski\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/bkiepuszewski\/status\/1737422769338421519\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">observed<\/span><\/a><span data-preserver-spaces=\"true\"> that some layer-2 options, reminiscent of Manta and Optimism, depend on sequencers to put up knowledge to Ethereum. However, with out fraud-proofs, there is no such thing as a solution to confirm that the info printed by the Sequencer on the Ethereum mainnet is correct or full.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the co-founder\u2019s view, each time a sequencer posts the batch of transactions on the principle internet, there is no such thing as a layer-1 state or occasion change. Per Kiepuszewski \u2018s evaluation, this can be a worrying problem that must be addressed to make sure no matter is posted is legitimate.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As an illustration, the co-founder cited current transactions posted by Optimism and MantaNetwork, two standard layer-2 scaling options for Ethereum. Kiepuszewski analyzed that Optimism just lately despatched a full \u201cdata blob\u201d containing all layer-2 transactions.\u00a0<\/span><\/p>\n<figure id=\"attachment_270529\" aria-describedby=\"caption-attachment-270529\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-270529\" src=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494\" alt=\"&quot;Data blob&quot; from Optimism Sequencer | Source: Etherscan\" width=\"1024\" height=\"494\" srcset=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494?w=1232 1232w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494?w=640 640w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494?w=768 768w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494?w=980 980w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494?w=750 750w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot98.png?resize=1024%2C494?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-recalc-dims=\"1\"\/><figcaption id=\"caption-attachment-270529\" class=\"wp-caption-text\">\u201cData blob\u201d from Optimism Sequencer | Source: Etherscan<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">On the opposite hand, it was famous that <a href=\"https:\/\/bitcoinist.com\/polkadot-privacy-layer-raises-5-5-million-aims-for-parachain-slot\/\" target=\"_blank\" rel=\"noopener\">MantaNetwork<\/a> reportedly posted the \u201croot hash of a data blob\u201d to CelestiaOrg. The downside, the co-founder went on so as to add, is that regardless of these operations, Ethereum couldn\u2019t decide whether or not their hashes have been legitimate or not.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The co-founder argues that this may very well be a recipe for bother because the lack of transparency on Sequencer\u2019s operations presents a serious concern, particularly for customers monitoring the mainnet however not working their layer-2 nodes.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Ethereum Layer-2s Command Billions Without Functional Fraud-Proof Systems<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Technically, within the present state, Sequencers play an important function in guaranteeing that transactions submitted by customers of any layer-2 scaling platform like Optimism or Arbitrum are processed and confirmed to be legitimate earlier than they&#8217;re transmitted to the Ethereum mainnet.\u00a0<\/span><\/p>\n<figure style=\"width: 1147px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/xDyiag3P\/\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/xDyiag3P\/\" alt=\"Arbitrum price trending upward on the daily chart | Source: ARBUSDT on Binance, TradingView\" width=\"1147\" height=\"848\"\/><\/a><figcaption class=\"wp-caption-text\">Arbitrum worth trending upward on the every day chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/xDyiag3P\/\" target=\"_blank\" rel=\"noopener nofollow\">ARBUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">However, whereas Ethereum layer-2 scaling options presently handle over $15 billion, based mostly on L2Beat knowledge, with out public fraud-proofs, what sequencers publish on the mainnet turns into unclear.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to L2Beat\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/l2beat.com\/scaling\/summary\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">, Manta Network has turned off its fraud-proof whereas nonetheless being developed on Optimism. At the identical time, Arbitrum \u2018s fraud-proof system continues to be not permissionless since validators have to be whitelisted.\u00a0<\/span><\/p>\n<figure id=\"attachment_270528\" aria-describedby=\"caption-attachment-270528\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-270528\" src=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522\" alt=\"Ethereum layer-s lack fool-proof systems | Source: L2Beat\" width=\"1024\" height=\"522\" srcset=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522?w=1174 1174w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522?w=640 640w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522?w=768 768w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522?w=980 980w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522?w=750 750w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2023\/12\/Screenshot97.png?resize=1024%2C522?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-recalc-dims=\"1\"\/><figcaption id=\"caption-attachment-270528\" class=\"wp-caption-text\">Ethereum layer-s lack fool-proof techniques | Source: L2Beat<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">In all, in most main layer-2 protocols managing tens of millions in complete worth locked (TVL), there is no such thing as a public system to watch sequencers and whether or not they&#8217;re submitting legitimate particulars to the mainnet.<\/span><\/p>\n<p>Feature picture from Canva, chart from TradingView<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/bitcoinist.com\/ethereum-layer-2s-fraud-paradise\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bartek Kiepuszewski, the co-founder of L2Beat, a portal for monitoring Ethereum layer-2 actions, is anxious concerning the safety and consistency of present off-chain scaling options, suggesting that with out fraud-proofs, there&#8217;s room for fraud and irregularities. Focus On Optimism And Manta: What\u2019s Going On? Taking to X on December 20, Kiepuszewski\u00a0observed that some layer-2 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