Viewpoint: Lin Wenbin, co-founder of Taraxa.
Aggregation-based second-layer protocols are rapidly eroding the decentralized characteristics of cryptocurrency, thereby undermining the trustlessness of cryptocurrency.
The uniqueness of cryptocurrency lies in its trustlessness, primarily provided by the first-layer infrastructure. True trustlessness must be fully decentralized, relying on a globally distributed network of nodes for operation.
Decentralization relies on three foundations: inclusivity, ordering, and execution. If these three are entrusted to a single decision-maker, 'trustlessness' becomes a marketing gimmick, and aggregation simultaneously undermines all three.
Aggregation protocols are rapidly undermining trust in cryptocurrency.
Currently, there are two types of aggregation protocols: optimistic aggregation and zero-knowledge aggregation. Both are dominated by a single sequencer, and while there is slight correctness assurance, the fundamental problems remain unsolved.
Optimistic aggregation relies on a week-long 'challenge period'; if any fraudulent proof is established during this process, it will lead to massive transaction rollbacks, locking up funds and trust.
Zero-knowledge aggregation ensures execution correctness through ZK-proofs, but under the control of a single sequencer, transparency is hard to guarantee.
Decentralized second-layer protocols are equivalent to transforming into first-layer protocols.
Claiming that second-layer protocols will eventually decentralize is no different from saying they will ultimately transform into first-layer protocols, which will siphon off Ethereum's liquidity and value.
Scaling Ethereum needs to start from the first layer.
Ethereum does not need to be slow and expensive; it should learn from new consensus designs to improve its technical capabilities rather than relying on second-layer protocols that masquerade as decentralized networks.
Prioritize the scaling upgrade of Ethereum's first layer to enhance the network's neutrality and user trust.
Viewpoint: Lin Wenbin, co-founder of Taraxa.
This article provides general information and does not constitute legal or investment advice. The views expressed herein are solely those of the author.