BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Vitalik Buterin Says Layer 3s Won’t Magically Increase Throughput

Vitalik Buterin Says Layer 3s Won’t Magically Increase Throughput
Ethereum co-founder Vitalik Buterin has re-upped his post from 1.5 years ago on “Layer 3s”, saying that L3s won’t magically increase throughput. Still, they can reduce certain fixed costs associated with batch publishing and deposits or withdrawals.
His statement comes amid concerns that Layer 3 networks are taking away from Ethereum’s value and security.
L3 Doesn’t Magically Increase Throughput
According to Buterin’s X post, there are alternative, potentially “lighter” approaches to achieve similar cost savings as those offered by Layer 3 solutions.

However, there are other, potentially “lighter”, ways to get the same cost savings that you get from L3s. pic.twitter.com/WTijiTAOE1
— vitalik.eth (@VitalikButerin) April 2, 2024

In his prior post, Buterin outlined models for Layer 3 solutions. In one of them, Layer 2 is responsible for scaling, while Layer 3 focuses on customizing functionality. While this doesn’t directly enhance scalability, it allows applications to scale through L2s while dissecting layers to meet specific operational requirements for diverse use cases.
The second model involves Layer 2 scaling for general purposes, with customized scaling handled by Layer 3. This can be achieved through rollups, which optimize data formats for specific applications.
The third model assigns Layer 2 for trustless scaling and Layer 3 for weekly trusted scaling. Here, Layer 2 focuses on rollups, while Layer 3 incorporates Validiums. They utilize SNARKs for computation verification but rely on a trusted third party for data availability. Despite having lower security levels, Validiums are cost-effective, as pointed out by Buterin.
He then said that he favored the three-layered blockchain model over the two-layered one, highlighting that the former enables an entire ecosystem to function within one rollup. This setup allows for cross-domain activities across the ecosystem cost-effectively, eliminating the need to bear the expensive costs associated with Layer 1.
Layer 3 Sparks Controversy
While some advocate for integrating Layer 3 (L3) networks to enhance Ethereum’s efficiency and functionality, there are concerns among others regarding their potential implications for decentralization and network security.
In a post on March 31, the Polygon Labs CEO argued that they opted not to develop Layer 3 chains because they were deemed unnecessary and detrimental to Ethereum’s value. He emphasized his belief that Layer 3 networks posed a security threat to Ethereum, illustrating a scenario where all Layer 3s settle on a single Layer 2.
Boiron argued that if Ethereum were to generate minimal fees and lacked prospects for future earnings, its value would diminish. Consequently, validators would lose confidence in holding ETH, leading to decreased network security.
The post Vitalik Buterin Says Layer 3s Won’t Magically Increase Throughput appeared first on CryptoPotato .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Vitalik Buterin Says Layer 3s Won’t Magically Increase Throughput


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script