More than 50% of all Ethereum-based transactions in the first half of June 2024 occurred on the second layer (L2). This is the first time that L2 Ethereum has surpassed L1 in the number of transactions. 📈

However, despite expanding access to data, the Dencun update (EIP-4844) does not solve the internal problems of rollups. Most of them still use centralized sequencers to improve productivity.

Users faced the loss of over $2.6 million in ETH on Linea due to a third party attack on June 2nd. More troubling was the team's decision to pause the sequencer and "censor attacker addresses."

If L2 don't start taking off their training wheels, they never will. Centralization is beneficial because it serves the interests of the operator, but decentralization requires innovative efforts. But once the initial obstacles are overcome, both parties reap significant benefits.

The time for excuses is over.