🔥🔥🔥 Why Layer 2s are the future
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What does a decentralized Layer 2 look like?
What is actually being decentralized?
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A decentralized Layer 2 is a rollup with a secured bridge to L1, with an escape mechanism to L1 even if the rollup fails completely (including funds in a smart contract).
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Sequencing and proving are permissionless, which also means a failed rollup can be revived seamlessly by the community. Contract upgradeability is also decentralized, at the very least by governance — with some of the critical modules like the bridge holding funds being immutable.
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Ideally, we’d like to have ossified rollups eventually that are fully immutable. There should be easily accessible tools that let people access and exit from the rollup without any trust assumptions beyond running L1 nodes. Do all of this and a rollup is practically as secure and decentralized as L1.
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Are all L2’s automatically safe to use?
Absolutely not!
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L2Beat.com has detailed descriptions of the security risks for each rollup.
This is early tech, so proceed with caution!
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https://newsletter.banklesshq.com/p/why-layer-2s-are-the-future
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