• Wed. May 22nd, 2024

Ethereum’s Layer-Two Solutions Heavily Criticized by Dominic Williams

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Jun 8, 2021
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According to the latest reports, Dominic Williams has given a shock to the users of the two major blockchain network solutions. Dominic Williams is reportedly the founder of Dfinity. The Dfinity platform is one of the most prominent ones in the cryptocurrency industry with its own currency, Internet Computer.

Just recently, Dominic Williams made a bold move of heavily criticizing two major blockchain network platforms. Williams reportedly had a go at Ethereum and Polkadot. However, he did not criticize the networks entirely but criticized the scaling solutions offered by these networks.

He stated that as a result of the scaling problem, these platforms are currently offering one of the worst experiences to the users.

Dominic Williams mainly targeted the Ethereum ecosystem in terms of its scaling solutions offered through the second layer. He stated that with the passage of time, Ethereum’s second-layer solution for scaling has started taking a different turn.

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It has now become sort of a Rube Goldberg machine that is offering cloud applications with the layer-two solution.

Williams went into detail in terms of the services the Ethereum second-layer scaling system is currently offering. He stated that as a result of the layer-two solution, the users are facing many frictions within the Ethereum network.

The most shocking detail he shared was about the way Ethereum’s second-layer scaling solution is being offered to the users. He claimed that more than half of the nodes for Ethereum (ETH) are AWS-hosted. This means that the major entity behind the security of the platform is Amazon Web Services (AWS), which is a third-party cloud computing service.

Williams also criticized the authenticity of the majority of the layer-two solutions that the networks are offering at present. He stated that the majority of the networks based on the Proof of Stake (PoS) consensus are based on the cloud’s layer-two applications.

Although the networks claim that these solutions are everlasting and more effective, in reality, they are nothing more than disappointments. They tend to exert a negative impact on the reputation of the networks based on the blockchain systems.

Williams criticized that the blockchain networks are individual entities and they must not be operated through the AWS solution. Blockchain technology is capable enough of finding a solution to the scalability problem. However, instead of looking for a solution within the blockchain technology, several major blockchain networks are adopting AWS.

Being dependent on third-party cloud service providers means that one’s validator keys can always be hacked and stolen by hackers. This completely kills the concept of blockchain technology and puts the assets and functionality of the entire blockchain network at great risk.

The purpose of blockchain technology is independence and decentralization. In the case of layer-two solutions, the users are required to download MetaMask when they need to use AWS. This software lets its developers locate and trace the users even when they are on the blockchain.

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