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DYdX Founder Antonio Juliano in Exclusive Interview Discusses Blockchain’s Migration to Cosmos

September 20, 2023
in Bitcoin
Reading Time: 2 mins read
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Juliano: I do strongly imagine that layer 2s will get to some extent the place the sequencer is a community, reasonably than only a single operator. And that can make the sequencers rather more decentralized, censorship-resistant. However the issue with having a single sequencer on layer 2’s proper now could be, the only sequencers are usually not censorship-resistant, proper? It is similar to, actually a server, and the server can refuse to course of your transactions if it needs to. Like, I am not attempting to choose on anybody, like actually all of them are like this, however let’s simply take like Coinbase or Base for example. Coinbase is actually working a server that’s the sequencer for the Base chain. And in the event that they wish to reject your transaction, for no matter purpose, they’ll do this. And, , I feel they’re attempting to be as neutral as doable. And that is superior. However that isn’t completely decentralized, I’ll say. And simply to show the purpose that I form of perceive many of the arguments at the least, OK, there is a option to get across the censorship-resistance switches. Successfully, you possibly can return to layer 1, and ship a transaction to layer 1 and be like, Oh, Coinbase, it’s important to embody my transaction now as a result of I went to the layer 1. However that is a horrible product expertise, proper? Like possibly that works for some edge circumstances, or if just like the lower than 1% of the time when, for some random purpose any individual’s being centralized by a sequencer. But when there is a good quantity of alternative for a large quantity of the transactions to be censored on a given sequencer, for no matter purpose, then this is probably not one thing that you really want on your community as a lot.

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