Ethereum co-founder, Vitalik Buterin has shared a latest blogpost expressing his views on layer 2 chains that are joining Ethereum.
Buterin notes that the layer2 (L2) ecosystem is expanding rapidly over the last year with several teams building solutions using roll-up and EMV-compatibility tech. As the L2 projects are growing, Buterin expects this trend to continue further as he sees some layer1 projects are “seeking to come closer to the Ethereum ecosystem.”
The upsurge in L2s is also pushed forward by centralized projects that are exploring blockchain applications to provide more privacy as well as some non-financial applications such as gaming and social protocols which need decentralization, buterin said.
Buterin stated that, “applications and users that are on the Ethereum layer 1 today will be fine paying smaller but still visible rollup fees in the short term..” adding “it’s easier to justify paying $0.10 if you were paying $1 before than if you were paying $0 before.”
The Ethereum co-founder further explained the difference and scope of Rollups and Validiums which most of the layer2 projects uses. He has compared both these L2 tech-stacks to layer1 chains (Disconnected).
He also mentioned a different method for layer2 to read data from Ethereum which includes reverting data and information. “Applications can build on top of this to implement functionality such as depositing and withdrawing tokens,” he said.
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