Ethereum News Today: Solana's Challenge: Ethereum L2s Trade Security for Scale?

Ethereum's layer-2 (L2) scaling solutions face growing scrutiny as Solana co-founder Anatoly Yakovenko challenges the notion that these networks inherit the security of Ethereum's base layer. Yakovenko, known for his work on the high-performance Solana blockchain, argued in a recent debate that L2s are plagued by centralization risks and vulnerabilities that undermine their purported safety guarantees, as he wrote in a Cointelegraph article. His critique adds fuel to an ongoing industry debate over the sustainability and security of Ethereum's expanding ecosystem of L2s.

Yakovenko highlighted that many Ethereum L2s rely on permissioned multisignature (multisig) custody models, which he described as a "glaring" security weakness. These multisigs, he explained, allow a group of trusted parties to control bridge contracts—critical infrastructure linking L2s to Ethereum's mainnet—potentially enabling unilateral asset transfers without user consent, as described in a Meme Insider article. "The claim that layer-2s inherit ETH security is erroneous," Yakovenko asserted, emphasizing that L2s introduce unique risks that cannot be mitigated by Ethereum's base-layer security alone.

The debate gained traction as Yakovenko contrasted Ethereum's L2 landscape with Solana's approach to scalability. He noted that Solana's design avoids the "attack surface" of large, complex codebases found in many Ethereum L2s, which are difficult to audit for bugs, the Cointelegraph article observed. Furthermore, he proposed that Solana could theoretically treat Ethereum's mainnet as an L2, leveraging zero-knowledge (ZK) proof advancements to create a bridge with stronger escape hatches—features that allow users to reclaim assets in case of failures, the Meme Insider article reported.

Cem Özer, CEO of Sovereign Labs and former Ethereum core developer, pushed back on Yakovenko's arguments during the exchange, stressing that rollup designs—not bridges—determine security outcomes. Özer argued that Sovereign SDK rollups enforce "forced transactions" at the state transition function (STF) level, reducing reliance on bridge contracts and decentralizing control, according to the Meme Insider article. This approach, he claimed, isolates risks to specific bridges rather than the entire rollup, enabling users to choose from multiple security models.

The discussion underscores broader concerns about Ethereum's L2 proliferation. At press time, L2Beat tracked 129 verified Ethereum L2s, with critics like Adrian Brink of Anoma blockchain arguing the ecosystem has "10 times more L2s than needed." Conversely, proponents such as Igor Mandrigin of Gateway.fm view the surge as a sign of healthy growth, offering diverse high-throughput options for developers, the Cointelegraph article noted. Binance Research, however, warned that L2s are fragmenting liquidity and eroding Ethereum's base-layer revenue by undercutting transaction fees.

Yakovenko's critique also intersects with recent market dynamics. While Ethereum ETFs briefly rebounded on October 21, they returned to outflows the next day, reflecting investor caution amid broader crypto market weakness, as reported in the Cointelegraph article. The timing highlights a critical question: Can Ethereum's L2s sustain adoption without compromising the security and decentralization principles that underpin the network?

As the debate unfolds, the industry remains divided. Yakovenko's stance aligns with a school of thought prioritizing inherent security over scalability, while Ethereum's L2 advocates argue that these solutions are essential for the network's long-term viability. With over 129 L2s in existence, the challenge for Ethereum's ecosystem lies in balancing innovation with the robust security guarantees that have defined its success.