Recent statements from Vitalik Buterin regarding increasing withdrawal times on Ethereum's Layer 2 networks highlight security threats and the need for improvements.
Issues with Long Withdrawal Times
In a post on X, Vitalik Buterin promised that long withdrawal times on Layer 2 put Ethereum’s security at risk. He noted that waits exceeding one hour push users toward less reliable solutions such as multisigs and MPC, which "undermine the whole point of having L2s instead of fully independent L1s."
ZK Proofs as a Solution
Buterin urged a shift from optimistic proof systems to ZK systems that can validate transactions quickly and securely. He also suggested a 2-of-3 hybrid model combining ZK, OP, and TEE systems, which would allow for instant withdrawals without compromising security. He pointed out that "two of three systems (ZK, TEE) are instant."
Market Reaction to Buterin's Call
In light of Buterin's calls, the L2BEAT platform confirmed that several popular Layer 2 solutions, including Base and Optimism, have passed new Stage 1 requirements. While the Ethereum market shows growth, there is increasing interest in flexible and secure withdrawal mechanisms, which may bolster user confidence in the platform.
Vitalik Buterin's statements on the need to reduce withdrawal times highlight the importance of developing Layer 2 technologies for enhancing security and functionality in Ethereum.
