Anatoly Yakovenko, the co-creator of Solanas, is causing controversy by questioning whether Layer-2 networks truly represent the optimal method for expanding blockchains. He’s asserting a daring statement: a finely tuned Layer-1 network is capable of managing demands for speed, cost, and security adequately.
Yakovenko contends that a superior Layer-1 can, in reality, offer greater security, speed, and affordability compared to Layer-2 alternatives. He emphasizes that Layer-2s frequently present security vulnerabilities through mechanisms like fraud verifications and multi-signatures, and they depend on sluggish data accessibility layers.
This argument was triggered by a post on X from rip.eth, who posits that “there’s no justification for constructing L1s.” Rip.eth believes Layer-2s possess advantages in terms of speed, cost-effectiveness, and security, without the encumbrance of novel consensus protocols. They even referenced Eclipse, an Ethereum Layer-2 utilizing the Solana (SOL) virtual machine, as an illustration of refined scaling.
When data constraints were mentioned, Yakovenko dismissed them. He indicated that Solana produces roughly 80TB of data annually, which is excessively voluminous for individuals to store conveniently, but insufficient for a corporation. He elucidated that Solana’s ledger is distinct from its state and can be transferred to decentralized storage suppliers such as Filecoin.
Notwithstanding Yakovenko’s doubt, Layer-2s are already appearing on Solana. Solaxy, an innovative scaling remedy that handles transactions off-chain and finalizes them on Solana’s mainnet, recently secured $19 million in funding. Yakovenko’s remarks stand in stark contrast to those of Ethereum co-founder Joseph Lubin, who regards Layer-2s as vital for scaling. Lubin recently underscored that Ethereum is the premier platform for rollups owing to its security, reaffirming his conviction that Ethereum’s trajectory is rooted in Layer-2 scaling.
Even with the Firedancer enhancement promising to increase throughput to a million transactions per second, congestion continues to be a problem for Solana. To prevent bottlenecks and guarantee long-term scalability, certain developers think that Layer-2 solutions are still essential.
The necessity for Layer-2 networks, such as Solaxy, is related to the considerable rise of DeFi and meme currencies on Solana, which puts a burden on network capacity and occasionally results in failures. Basically, all those dog-themed digital currencies are obstructing the system! SEC Concludes Probe into Immutable, No Enforcement Action to Be Taken
