Polygon CEO Sparks Controversy: Calls Layer-3 Networks redundant for Ethereum Scaling
Summary:
Polygon's CEO Marc Boiron has sparked a debate, arguing that Ethereum doesn't need layer-3 networks for scaling as they only siphon off its value. Instead, Boiron believes in the potential of layer-2 networks like Polygon Labs. However, his remarks have sparked controversy in the crypto community, with some arguing that layer-3 networks offer numerous benefits and are essential for Ethereum’s scalability and value. This debate follows Ethereum co-founder Vitalik Buterin's previous comments highlighting the distinct functionalities of layer-3 networks.
Polygon's CEO Marc Boiron has ignited a discussion on X over the past weekend. He argued that Ethereum does not need layer-3 networks for scaling and these networks merely siphon value from the mainnet. On April 1, Boiron stated that Polygon Labs - an Ethereum layer-2 scaling network - avoids working on layer-3s due to their redundancy to scale current networks. He added that layer-3s serve only to divert worth from Ethereum to the layer-2 networks on which they are established.
Nevertheless, his remarks were not left unopposed. One individual retorted that layer-2 networks on Ethereum constitute Ethereum's value. In response to this, Boiron conceded, but also countered: if all layer-3s were to settle on a single layer-2, Ethereum's value capture would essentially become zero, posing threats to Ethereum's security.
While he emphasized that people are free to develop layer-3 networks on any platform, including Polygon's own, he clarified that Polygon is not striving to extract all value onto its networks at the expense of Ethereum.
Discussing Polygon's objectives, Boiron elaborated that their mission was to spearhead the scaling of Ethereum when no one else would, using a technique known as EVM parallelization along with privacy. According to him, layer-3 networks do not align with this mission.
Layer-3 protocols are established atop layer-2 networks and house application-specific DApps to offer various solutions like scaling, functionality, interoperability, customization, and cost-reductions. Notable L3 ecosystem members and solutions derived from layer-2 networks include Orbs, Xai, zkSync Hyperchains and Arbitrum Orbit's freshly launched Degen Chain.
Peter Haymond, senior partnership manager at Offchain Labs, contrarily posited that layer-3 networks offer many benefits without plundering Ethereum's value. Reduced cost of bridging from layer-2 rather than layer-1, lower cost of on-chain proofs, custom gas tokens, and specialized state transition functions were some highlights.
This debate around layer-3 networks was first sparked by Ethereum co-founder Vitalik Buterin in late 2022, who suggested that layer-3s should primarily provide a distinct function from layer-2 networks.
Published At
4/1/2024 6:55:11 AM
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