Ethereum co-founder Vitalik Buterin disclosed two major dimensions of “connectedness to Ethereum” in his recently published article. The article titled ‘ pm’ highlighted the Ethereum layer 2 ecosystem, discussing security guarantees and tradeoffs.
According to the co-founder, there are two key dimensions when it comes to security in relation to Ethereum: Security of withdrawing from Ethereum and Security of reading Ethereum. In the article, Vitalik explained that a system’s ability to read the Ethereum blockchain is connected to “being able to revert if Ethereum reverts.”
Moreover, these two dimensions have different parameters for evaluation. Regarding the Security of withdrawing from Ethereum, Vitalik stated that it is determined by “the security level and what percent of users or use cases benefit from the highest security level.”
While the security of reading Ethereum is measured by “how fast the chain can read Ethereum’s blocks and the strength of the chain’s social commitment to handle edge cases,” the scenarios examined in both cases include finalized blocks vs. any blocks, 51% attacks, and hard forks, respectively. Notably, part of the benefits of a trustless chain for reading Ethereum are reduced security concerns and improved wallet functionality, as mentioned by Vitalik in his article.
However, projects run on different operational frameworks, where some applications are designed for high security and tight connectedness, while others design their applications to run in a more scalable manner with lower connectedness and security. “In many cases, starting with something looser today and moving to a tighter coupling over the next decade as technology improves may well be optimal,” Vitalik said.
Furthermore, Vitalik established that layer 2 projects would continue to be more heterogeneous. According to the co-founder, this trend would continue because some independent layer 1s are exploring Ethereum and layer 2. Centralized projects seek blockchain solutions for user security assurance, and non-financial applications like social media platforms want to be decentralized but need only a halfway-house level of security, Vitalik said.
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