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"layer 2" systems are just (unregulated) banks that use the blockchain as an eventual settlement mechanism. They have all the same middleman/trust/centralizati
by pphysch 4y ago
"layer 2" systems are just (unregulated) banks that use the blockchain as an eventual settlement mechanism.
They have all the same middleman/trust/centralization issues as tradfi banks and anyone who tells you otherwise is lying.
- cdiddy2 4y agoMost layer 2s do right now. That is not how they are meant to be though. A true layer is completely non centralized. That is the whole point of the fraud proofs. The ideal end state is stage 2 described here https://ethereum-magicians.org/t/proposed-milestones-for-rollups-taking-off-training-wheels/11571 https://ethereum-magicians.org/t/proposed-milestones-for-rol...