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Opinion: Most Ethereum L2s are centralized and have the ability to move user funds without restriction
2024-09-01 16:07:27
Odaily News Justin Bons, founder and chief investment officer of European cryptocurrency fund Cyber Capital, has once again criticized the operation of Ethereum L2 solutions. Bons labeled these blockchain platforms, which are designed to improve the scalability of the Ethereum network, as dangerous because they have the ability to transfer users' funds without restrictions. Justin Bons said that most major Ethereum L2 solutions are centralized, and a single server is usually responsible for running the operations of the platform. The Cyber Capital CIO said that this design goes against the decentralization and security principles of cypherhunk and is harmful to investors because these chains may collapse at any time due to a single event, and may even be manipulated to steal users' funds. The Cyber Capital founder expressed strong opposition to these L2 solutions, saying that they cannot provide the same level of security and stability as the Ethereum main network. In addition, he said that although adverse situations such as loss of user funds have not yet occurred, the existence of such a possibility is highly worrying.