Re:Is Web3 Bullshit?
by ShamelessC on Sunday December 05, 2021 @09:57AM
(#29449720)
If by L2 you are referring to proof-of-stake, I don't think that technology can ever be made to work without needing to exist alongside a proof-of-work coin due to the "nothing at stake" issue.
No, I am not talking about PoS. One example of "Layer 2" is Lightning Network for Bitcoin. You "lock up" an amount of BTC in a channel that you can then use over the p2p onion-routed liquidity network. Payments are practically instant and fees are low (and can be made 0 if you open a direct channel with the counter-party).
It's orhogonal to consensus so works equally well on PoW/PoS.
There are a couple of competing and complimentary solutions for L2 on Ethereum. I'm quite sure it will converge at some point.
As for "who's going to run the nodes", if cryptoeconomics or users don't take care of it, I assume businesses will. The nice thing is that regardless, the payment for this infrastructure is also facilitated through cryptocurrency transactions on L2 networks. For someone who doesn't want or need to take ownership of that, it can just be proxied through to the client and not need to be the concern of the developer of publisher of the app.
Of course businesses can still choose to pony up for it proactively of they have the finances to support it, potentially running it themselves or through a third party. You can always fall back to "the old ways" for certain things when it makes sense.