Galaxy’s research manager, Alex Thorn, criticized the commercial model of many blockchains in layer 2 (ETH) (L2) by Ethereum (ETH) as “ETH Extractive”.
In an article on social networks of August 6, Thorn supported That L2 networks keep most of the costs of costs while contributing relatively little to Ethereum L1.
Thorn added that most L2s are controlled by unique companies or foundations, which means that “very little value accumulates to ETH holders” and “most L2 do not even go to the ETH that they collect in costs”.
Post EIP-4844
Taking the post-EIP-4844 dynamics, Thorn noted that the overall L2 Blob confirmation costs and L1 gas expenses have oscillated about $ 10,000 per day, while L2 earn from $ 100,000 to $ 400,000 per day in user fees.
Consequently, the L2 gains leave “a beautiful margin, even by performing the chain”. Blubs are dedicated spaces providing data storage used by layer 2 blockchains built above Ethereum.
He also contrasted base payments to the collective of optimism, because Basse uses the OP battery, compared to L2S payments in Ethereum. In the past 180 days, Base has paid $ 4.4 million at OP, while all L2 combined paid $ 3.05 million in Ethereum L1 for Blobs and Gas.
Thorn also said that Coinbase had made $ 14.9 million in basic costs in the second second quarter, with $ 443,000 in L1 data costs and $ 2.16 million paid to the OP, saying that “OP is literally 4.8x more than Ethereum.”
The criticism resulted in a broader alignment issue, to which Thorn answered:
“… They are not really” ethn aligned … “They seem quite” Ethlery “.”
Long -term debate
The base went to step 1 in April on the L2Beat data aggregator, a level of intermediate decentralization envisaged by the co-founder Ethereum Vitalik Buterin.
Step 1 indicates the improvement of breakdowns resistant to breakdowns and governance, while step 2 is defined by an L2 having no group of actors who can display a state root other than the output of the code, even unanimous.
The L2 powered by Coinbase was among other chains that recently updated Their security measures to prevent means from blocking messages to the main one to compromise at least 75% of the network’s security council.
Thorn’s argument revives a long -term debate On the quantity of economic value that L2 should return to Ethereum compared to their operators or collective upstream.
The structure of post-4844 costs lowered L2 data costs by introducing blobs, but the balance between user costs preserved by L2S and L1 expenses and the lineage remains disputed.
