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@chaskin.eth
1/ Centralization isn’t binary. What matters is the properties it gives you The key properties of a centralized sequencer (if the rollup is at least Stage 1) is there’s an exit window where you can withdraw if they try to steal your funds. Also if they censor you, a force transaction mechanism ensures either inclusion or an exit Let me explain 🧵
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@chaskin.eth
2/ While it's true that neither Solana nor rollups with centralized sequencers are credibly neutral, a rollup with a centralized sequencer doesn’t have the same trust model as a blockchain with KYCd, foundation subsidized validators in data centers
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@chaskin.eth
3/ The key difference is that a centralized sequencer can't take your funds immediately because Ethereum L1 enforces a withdrawal period If it’s Stage 1, the rollup operator can’t upgrade the bridge and steal funds without first giving users a chance to exit
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@chaskin.eth
4/ If a centralized sequencer starts censoring transactions, users can force an exit transaction Even in the extreme case if a government subpoena shuts them down, users can still withdraw to Ethereum (but only if they exit before the window closes)
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@chaskin.eth
5/ In contrast, if a blockchain’s security depends on mostly KYC’d, subsidized validators, a subpoena or regulator’s decision can be game over, and users may lose access to their tokens entirely Or they might be built on a foundation with long-term economic stability that's currently being subsidized by token holders, but will this last forever? That’s the distinction that matters
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@chaskin.eth
6/ If an L2 isn’t Stage 1, make sure you understand the trust assumptions: - Is there an exit window before upgrades? - Who controls the upgrade keys? - Can the team change security guarantees? - How decentralized is fraud proof submission? These are the key questions
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