‘Sequencers’ Are Blockchain’s Air Traffic Control. Here’s Why They’re Misunderstood

Cheap and speedy layer 2 rollup networks like Arbitrum, Optimism, and Coinbase's Base are gaining popularity as alternatives to the congested Ethereum network, but concerns arise over the centralized nature of their sequencers, which could pose risks such as transaction censorship and system failure. However, experts argue that the bigger security concerns for layer 2 networks lie elsewhere, such as the lack of fraud proofs and escape hatch mechanisms.

coindesk.com

Relevant topic timeline:

8/22/2023

Ethereum Layer-2s Gaining Momentum Despite Market Doldrums, Says Analytics Firm IntoTheBlock - The Daily Hodl

Despite the bear market, Ethereum layer-2 solutions like Optimism, Arbitrum, and Base are thriving, with increased traction and healthy fundamentals, according to analytics firm IntoTheBlock.

8/23/2023

The Protocol: Coinbase Blockchain's Viral Use Case Puts Focus on Optimism's Tech

Coinbase's new Base blockchain, which operates as a layer-2 network atop Ethereum, has gained significant traction with its application Friend.tech attracting over 100,000 users and generating $25 million in fees, pushing its total value locked past $200 million and its transactions per second above Ethereum and rival layer-2 projects Arbitrum and Optimism.

8/31/2023

$16M in crypto lost to hacks in August: Report

Coinbase's layer-2 solution, Base, experienced four security incidents shortly after its launch, resulting in the loss of $15.8 million in cryptocurrencies in August.

9/5/2023

Coinbase layer-2 network Base suffers first major outage since launch

Coinbase's Ethereum layer-2 network Base experienced its first major outage, lasting for 43 minutes, due to a delay in block production, highlighting the potential risks of using layer-2 networks compared to Ethereum's mainnet.

9/15/2023

Coinbase's Base Layer 2 Blockchain Surges in Usage, Handling 1.88M Daily Transactions

Coinbase's layer 2 blockchain, Base, has experienced a surge in daily transactions, reaching an all-time high, with the increase mainly driven by a decentralized social network platform called Friend.tech.

9/19/2023

Ethereum Poised to Become Dominant Blockchain as Specialized Networks Connect as Layer 2 Solutions

Ethereum is predicted to consolidate the blockchain sector, with other blockchains potentially becoming Ethereum Layer 2s, following the precedent set by the networking industry's convergence on a single global standard over time; the value of interconnection through Ethereum lies in its ability to flow products and services between ecosystems.