Bitcoin Layer 2 solutions have gained significant traction this year but have also drawn their fair share of criticisms. Mempool founder Mononaut has strongly criticized them and pointed out several drawbacks from a technical standpoint.The main objective of Bitcoin Layer-2 networks – which serve as secondary protocols built on top of the Bitcoin blockchain – is to improve scalability and transaction efficiency.
Mononaut also criticized Layer 2 solutions that involve venture capital investors and introduce their own tokens, calling them similar pump and dump schemes. According to Mononaut, Layer 2s that incentivize locking up coins for extended periods are similar to previous scams such as Hex 3.0. Moreover, Mononaut cautioned against these solutions that claim to be Bitcoin-native but are actually Ethereum multi-signature systems, labeling them as affinity scams.
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Source: Utoday_en - 🏆 295. / 63 Read more »