Solana’s Yakovenko Blasts Ethereum L2 Security Claims, Highlights Scaling Risks
On October 27, Solana co-founder Anatoly Yakovenko took to X to challenge Ethereum L2 security and decentralization claims. He branded the idea that Layer 2s inherit Ethereum L1 security as unfounded, citing large attack surfaces, bloated codebases and reliance on multi-signature custody models that can move funds without user approval. Yakovenko also compared ETH bridged via Wormhole on Solana with ETH on Base, saying both face similar worst-case risks and generate comparable revenue for ETH L1 stakers. His critique intensifies the Solana vs Ethereum L2 debate and underscores persistent security and decentralization challenges in Ethereum’s scaling strategy.
Bearish
Yakovenko’s public attack on Ethereum L2 security undermines confidence in key scaling solutions. Traders may reassess L2 risk premiums, leading to reduced demand for ETH in the short term. In the long run, persistent doubts over Layer 2 security and decentralization could slow adoption, shifting liquidity to alternative networks like Solana and reinforcing bearish pressure on ETH.