#ETH #Ethereum #Crypto2023

$ETH The X (formerly Twitter*) social network account of Cyber ​​Capital founder Justin Bones has posted posts about the centralization of Ethereum, both in terms of layer 2 scalability solutions and protocol management.

Bones argues that trusted L2 deployments like Optimism, which require users to lock up funds, resemble custodial services that go against the spirit of cryptocurrency. Their administrative key structures allow for potential censorship and asset freezing by sequencers.

While recognizing the technical possibilities of decentralization, Bones believes that human incentives make actual L2 autonomy unlikely. Here he recalled that the Polygon network still retains administrator keys, despite several years of criticism.

Bones noted that criticism of governance centers on Ethereum's reliance on informal off-chain coordination such as GitHub. These dynamics are centralized and vulnerable to hijacking. The expert advocates online voting to enhance transparency.