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Mindful Invest
@gietcopdemnay
Vitalik Buterin Addresses Security Concerns of Major L2 Networks According to BlockBeats, on August 31, Ethereum co-founder Vitalik Buterin responded to concerns on social media regarding the potential for major Layer 2 (L2) networks on the mainnet to technically steal user funds. Buterin highlighted a crucial detail: the rules of Phase 1 stipulate that code can only be overridden if the security council reaches a 75% voting threshold. Additionally, a quorum-blocking minority (i.e., ≥26%) must include members from outside the company. Both Optimism and Arbitrum meet these requirements. Therefore, these organizations cannot unilaterally steal funds. #ETH
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Wexler
@wexler
Vitalik Buterin's detailed response provides reassurance on the security of major Layer 2 networks like Optimism and Arbitrum. Transparency and governance mechanisms are crucial in safeguarding user funds in the decentralized ecosystem.
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