Polygon Labs CEO sees layer-3s like new Degen Chain as a risk to Ethereum

Polygon’s CEO Marc Boiron emphatically stated that the layer-2 network was not considering processing layer-3 protocols due to the fact that of the imaginable risks they airs to Ethereum’s security.

Boiron made this connection connected the backmost of the aboriginal occurrence of Degen Chain, a layer-3 web moving connected the Coinbase-backed scaling solution Base.

Layer 3 protocols heighten scalability by gathering upon Layer 2 infrastructure, allowing developers to tailor application-specific blockchains to their requirements.

Degen Chain

Degen Chain is simply a layer-3 web built utilizing Arbitrum Orbit for the DEGEN token. The integer plus has swiftly emerged arsenic the superior assemblage token among Farcaster users, the rapidly expanding web3 societal media platform.

Since its motorboat connected March 28, the web has captured important attraction and transactional enactment wrong the crypto industry, witnessing an awesome surge of implicit 200% successful the past week.

Available information indicates that the web has facilitated the bridging of much than $30 million, alongside powering implicit 3.5 cardinal transactions arsenic of March 30.

Community debates layer-3

Degen Chain’s aboriginal successes person attracted debates from the crypto community, who clasp differing views astir the network.

In a March 31 post on X (formerly Twitter), Boiron asserted that layer-3 networks divert worth from Ethereum onto the layer-2 platforms hosting them.

According to him, specified a trajectory doesn’t align with Polygon’s committedness to Ethereum’s scaling, which the institution already addresses done its proof-of-stake (PoS) and zero-knowledge Ethereum Virtual Machine (zkEVM) chains.

Additionally, Boiron pointed retired the imaginable adverse effects of layer-3 adoption, highlighting their minimal show enhancements and the looming menace to Ethereum’s security. He said:

“If each L3s settled to 1 L2, past Ethereum would seizure fundamentally nary worth and, thus, Ethereum information would beryllium astatine risk.”

He added:

“If Ethereum earns nary fees and has nary imaginable of earning fees different than a tiny magnitude of fees from this 1 L2, past the worth of ETH volition driblet and, erstwhile it is wide that it’ll proceed to driblet due to the fact that determination is nary economical aboriginal for it, validators volition nary longer beryllium consenting to clasp ETH and, thus, nary longer beryllium consenting to unafraid the network.”

Meanwhile, blockchain adept Cygaar explained that layer-2 networks are not yet “matured” and person yet to inherit Ethereum’s information level due to the fact that of existing challenges similar web centralization, upgradeable span contracts, and processing proving systems.

Consequently, helium argued that integrating layer-3 networks atop layer-2s could exacerbate risks and compromise the information of these blockchain networks.

The station Polygon Labs CEO sees layer-3s similar caller Degen Chain arsenic a hazard to Ethereum appeared archetypal connected CryptoSlate.