Overview
- Buterin reiterated that a 51% attack cannot make an invalid block valid on Ethereum, arguing user assets remain protected under core L1 rules.
- He cautioned that L2 assurances break down when validators are trusted with functions outside Ethereum’s base-chain control.
- Yakovenko challenged claims that L2s fully inherit Ethereum security, citing hard-to-audit codebases, multisig custody exposure, and centralized off-chain processing.
- He suggested alternative interoperability models, including treating Ethereum as an 'L2' to Solana or enabling direct bridges via Wormhole if demand exists.
- The stakes are high, with L2 trackers reporting about 129 verified Ethereum L2s and more than $35 billion in total value locked, and no new protocol changes announced in response to the exchange.