Ethereum's Future Debated At Devcon Bangkok

According to Blockworks, the recent Devcon Bangkok event has sparked significant discussions about the future of Ethereum, particularly concerning layer-2 rollups. Martin Koeppelmann of Gnosis delivered a keynote address, challenging the current approach to layer-2 solutions and advocating for Ethereum to develop its own zk-proven rollups. Koeppelmann criticized existing rollups like Base, arguing that they divert users to corporate-controlled platforms rather than Ethereum itself. He expressed concerns about potential shareholder-driven decisions that could introduce additional fees, undermining Ethereum's core principles. Koeppelmann highlighted the marketing claim that rollups inherit Ethereum's security, noting that, in practice, none currently do. He pointed out vulnerabilities such as central sequencers' ability to censor withdrawals or manipulate state in decentralized finance platforms. Additionally, he observed that most assets on rollups are native to those chains and not subject to Ethereum's security guarantees. Koeppelmann proposed the creation of 128 identical interoperable native L2s, built with Ethereum's high standards, to enhance scalability, cost-effectiveness, and user adoption. These rollups would integrate into Ethereum's economic framework, with validator rewards incentivizing proof correctness and aligning rollups with Ethereum's values. Developers would have the option to build directly on Ethereum, with the choice of rollup depending on the specific needs of their decentralized applications. Koeppelmann also suggested distinct namespaces to prevent address collisions across these L2s, improving cross-chain clarity. He concluded by urging the Ethereum community to act decisively, warning that without native L2s, Ethereum's role could diminish. Embracing native rollups, he argued, could position Ethereum as a leading economic zone globally. Koeppelmann's address called on the Ethereum community to rethink scalability and governance while adhering to its decentralized ideals.