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  • talk to me about layer two solutions, everyone says they'll save the day.

  • Layer two will make ethereum faster.

  • Lightning will make Bitcoin faster I think I know what you're gonna say, but what do you say to those people, especially people new to this space that are maybe regurgitating something they've been told, what do they need to know?

  • Um there's a lot to say about layer two's let me try to summarize them and let me come at this from with with some credentials.

  • So I built the world's fastest layer two system, the school teacher and teach and um and it still is the world's fastest, it uses hardware support, that's where it gets the speed from.

  • So I know a lot about layer twos and I've thought a lot about layer ones, obviously um layer twos are what you use when you run out of all other options, when you are giving up when you're throwing the towel in, that's when you pull out the layer to Turkey.

  • So it is essentially a way of saying I have failed to innovate on my chain and now I'm going to go to layer two.

  • There are lots of downsides to layer two solutions.

  • First of all, if you're trying to do them use them for payments, they are limited in capacity and they also have privacy issues.

  • If you're trying to do layer twos for for smart contracts, then you're giving up a lot of value to some centralized party And that's a huge problem.

  • So whoever is operating that?

  • Layer two solution needs to suddenly or is in a position to order transactions and they can take transactions from you and can start doing doing things like jump ahead of you, jumping or whatever else.

  • So there are techniques to mitigate some of these but uh but it's it's it's a very difficult technical challenge.

  • The other thing about layer two solutions is they do not compose that is if you are using one solution then I need to be using that exact solution.

  • So suddenly we used to have just a common base, the common foundational layer one and now we added something else that everybody has to use.

  • So it's like I ditched my layer one and I now have something new called layer one plus later to that layer to that specific one, the more of these solutions you have the worst you are because your liquidity, your your infrastructure of ecosystem gets fractured.

  • And uh so uh last thing, I think the reason why all Layer Twos are fundamentally destined to fail and the reason why many technologists don't understand why they're destined to fail is the following.

  • They overlook a fundamental feature of fundamental service that layer once provide and that is the rendezvous service, I can interact with you without knowing who you are.

  • Layer one's purpose is to bring unknown parties together.

  • Layer twos don't achieve that property there discombobulated.

  • They actually, it's hard to find your counter party, it's hard to find what it is that you seek because there are so many of them and because they fractured the space.

  • So if you mess with random, you take away from the fundamental value proposition of block chains and therefore they are undesirable.

  • So uh that's that's my short series of rants.

  • I try to make it as concise as possible, but they're not here, they're gonna be here to stay, but they're not here to solve a problem in any in any longstanding fashion.

talk to me about layer two solutions, everyone says they'll save the day.

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B1 layer destined solution fastest fail fundamental

I BUILT THE WORLD'S FASTEST LAYER 2 SOLUTION BUT THIS IS WHY THEY ARE DESTINED TO FAIL ? Emin Sirer

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    林宜悉 posted on 2021/11/25
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