Bankless Arbitrum's BOLD New Bet with Ed Felten & Raul Jordan
Aug 9, 2023
Ed Felten, Co-Founder of Offchain Labs, and Raul Jordan, Co-Founder of Prysmatic Labs, dive into the transformative BOLD release from Arbitrum. They discuss the new challenges and advancements in decentralizing Layer 2 solutions, focusing on security and governance. Insights into the importance of staking ARB tokens and the evolving role of validators illuminate the future of the ecosystem. The duo also tackles the intricacies of shared sequencing and the ongoing commitment to enhancing network safety and efficiency.
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BOLD and Decentralization
- Arbitrum's BOLD update improves layer-2 decentralization by enabling permissionless validation.
- Now, anyone can ensure the chain's correct operation, even if others act maliciously.
L2Beat Decentralization Metrics
- Layer2Beat objectively measures layer-2 decentralization with a five-slice pie chart covering key risk vectors.
- Arbitrum excels in data availability and sequencer/proposer failure, while upgradability and state validation are being addressed.
Trustless Bridging with BOLD
- Raul Jordan emphasizes the importance of trustless asset bridging between L2s and Ethereum mainnet.
- BOLD enhances this trustless bridging using fraud proofs, reducing reliance on third parties.