- Polygon CEO Marc Boiron warned that layer-3 networks like the new Degen Chain could pose a risk to Ethereum’s security
- Boiron stated that layer-3s divert value away from Ethereum onto the layer-2 platforms hosting them, which goes against Polygon’s goal of scaling Ethereum
- The early success of Degen Chain, a layer-3 network built on Coinbase-backed Base, has sparked debates within the crypto community about the potential implications of layer-3 adoption
Polygon CEO Marc Boiron recently stated that the Ethereum layer-2 network Polygon has no plans to develop layer-3 protocols, arguing that layer-3s could pose risks to Ethereum’s security. This comes amid the early success of Degen Chain, a new layer-3 network built on top of the Coinbase-backed scaling solution Base.
Degen Chain’s Rapid Growth
Degen Chain is a new layer-3 network built using Arbitrum Orbit for the DEGEN token. Since launching on March 28, Degen Chain has seen impressive growth, facilitating over $30 million in bridging and powering over 35 million transactions as of March 30. The network’s early traction has sparked debate within the crypto community.
Polygon CEO’s Concerns About Layer-3 Networks
In a March 31 post, Boiron claimed layer-3 networks divert value away from Ethereum onto the layer-2 platforms hosting them. He argued this conflicts with Polygon’s commitment to scaling Ethereum through its existing PoS and zkEVM chains.
Additionally, Boiron highlighted potential security risks, stating “If all L3s settled to one L2 then Ethereum would capture basically no value and thus Ethereum security would be at risk.” He explained that as Ethereum loses value, validators would no longer have incentive to secure the network.
Meanwhile, blockchain expert Cygaar noted layer-2s have yet to match Ethereum’s security. He warned combining layer-3s with layer-2s could compound risks and undermine security.
Conclusion
The debates surrounding layer-3 networks highlight ongoing discussions around balancing scalability and security. Polygon’s skepticism of layer-3s shows concerns about fragmenting activity and value away from Ethereum. However, layer-3 advocates argue they enable application-specific customization unavailable on layer-2s alone. The coming months will reveal whether layer-3 adoption grows or remains limited.
