Solana Co-Founder Highlights Security Concerns in Layer 2 Networks

According to PANews, Solana co-founder Toly recently expressed concerns about fundamental security issues in Layer 2 networks on the X platform. He argued that the complexity of building a complete Layer 2 network, coupled with a broad attack surface, makes it challenging to ensure a system free of vulnerabilities and with optimal performance. To address these challenges, existing Layer 2 solutions commonly employ an upgraded multi-signature mechanism, which Toly claims undermines all security assurances. Toly emphasized that Layer 2 networks and the cross-chain bridge Wormhole face similar extreme risks, as multi-signatures can potentially control all bridged funds. In contrast, validators on chains like Sui, even with 100% staking support, cannot unilaterally alter the state without coordination from major exchanges and RPC nodes. However, Layer 2 multi-signatures can directly upgrade bridge contracts and transfer funds. He refuted the notion that Layer 2 inherits Ethereum's security, pointing out that five years into the Layer 2 roadmap, the Ethereum funds bridged on Solana's Wormhole and those on the Base chain face the same extreme risks. Additionally, the returns generated for Ethereum L1 stakers are comparable. Toly believes that the insurmountable security issues in Layer 2 networks are the reason they have not achieved true security over the past five years.