Anatoly Yakovenko proposes Ethereum as Layer 2 solution for Solana
Anatoly Yakovenko, co-founder of Solana Labs, has suggested that Ethereum could function as a Layer 2 (L2) solution for Solana. Yakovenko believes that Ethereum has the potential to provide one-way security as a bridge protocol for Solana.
Yakovenko outlined a three-step process for this setup:
- Submit all Ethereum transactions into Solana.
- Submit a Simplified Payment Verification (SPV) root for the resulting state.
- Implement a bridge timeout to prove faults.
Yakovenko also identified potential faults, such as conflicting SPVs for the root and invalid root computation. To counteract censorship, a relayer would ensure transactions posted on Solana end up in Ethereum.
However, Yakovenko cautioned that while it would be safe to hold Solana assets on Ethereum, lending or maintaining positions against them would not be safe. In the event of an Ethereum fault, Solana users could retrieve their assets, but their representations on Ethereum would become worthless.
Yakovenko concluded by noting that central limit order books (CLOBs) would be acceptable under this setup, but Automated Market Makers (AMMs) and non-flash loan borrowing lending protocols would not be.
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