Despite the limitations and potential risks, the idea of using Ethereum as a second layer solution for the Solana blockchain is “quite plausible.” This was stated by the co-founder of Solana Labs Anatoly Yakovenko.
In his opinion, with technical cooperation, owners of Solana assets in a potential L2 network “will have guarantees of finality and will be able to return back to the protocol even in the event of double spending.”
To implement the idea, it will be necessary to synchronize information about Ethereum transactions in Solana and send the Simplified Payment Verification root to confirm the consensus between the validators. And to eliminate possible errors in the protocol, it is necessary to configure the “bridge timeout”.
However, Yakovenko noted that in such a scenario, only the storage of assets on another blockchain would be safe. Landing services and liquidity support are of great danger, as a failure in Ethereum will negatively affect the main network.
“Solana users can get their assets back, but their Ethereum loans are worth nothing. So if you borrow Solana-based USDC in Ethereum, the borrower can withdraw it to the mainnet and get the real assets back, but the lender gets a junk token. In principle, like all USDC on [форке Ethereum Proof-of-Work]”, he explained.
In addition, the interaction of assets between networks can have implications for DeFi protocols. While the central limit order books continue to function stably, automated market makers and lending protocols will face “limitations and challenges” due to lack of liquidity, the project leader added.
Recall that in June, the deBridge team announced the deployment of EVM-compatible cross-chain protocol on Solana.
Previously, the number of new addresses in the blockchain reached a maximum since June 2022 – 304,640.
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