Bankless Are L2s Extensions of Ethereum? | Kyle Samani & Max Resnick vs. David Hoffman & Jill Gunter
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Oct 28, 2024 
In a fiery debate, Kyle Samani, co-founder of Multicoin Capital, and Max Resnick from ConsenSys clash with David Hoffman and Jill Gunter of Espresso Systems. They discuss whether Layer 2 solutions are true extensions of Ethereum or parasitic entities. The conversation dives into interoperability standards and how L2s affect Ethereum's value proposition and economic dynamics. The guests also explore the competition between Ethereum and Solana, weighing the sustainability and future of these scaling methods for decentralized finance.
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L2s as Replacements, Not Extensions
- Kyle Samani believes L2s, in their current form, aren't extensions of Ethereum.
- He argues they replace L1 functionality instead of offering new capabilities.
L2s and Property Rights
- David Hoffman argues L2s are extensions of Ethereum based on property rights.
- He believes L2s extend Ethereum's property right system, although value accrual is debated.
L2s as Competitors
- Max Resnick views L2s as separate states with their own network effects.
- This creates competition with Ethereum, exemplified by Arbitrum's spending and Unichain's L2 launch.