A member of the layer of layer of layer 2 refuted rumors that his Coinbase sequencer sold ether (ETH).
“Coinbase has accumulated $ 300 million and more ETH, which represents more than 2 times all the basic ETH revenues over time,” said the member of the Kabir.base.eth base on Sunday. “Base and Coinbase have and continue to hold ETH and publicly disclose our long -term assets (100K ETH +, 300 million dollars +).”
Kabir added that the base uses the unleashed guard for reasons of security and audit (this is why the funds move to Coinbase), stressing that the Ethereum Layer 2 solution wins and spends as much as possible in the ETH, Using it for layer 1 costs and the granting of support. Coindesk contacted Coinbase for a comment on the question.
Kabir’s comments came after the pseudonym observer Santisa said that the base has transferred all sequencer costs to Coinbase from the beginnings, and that the sequencer has probably sold these parts.
Coinbase is supposed to be the only node of sequencer on the basis which sequences and finalizes transactions in a specified order and improves the transaction rate (speed). Coinbase invoices costs, collected in ETH, for this role of sequencer.
The taking of Santisa has echoed the concerns of the founder of Sonic Labs, Andre Cronje concerning the use of sequencers centralized in layer 2 solutions which lead to models of profit which do not line up with the wider Ethereum values .
Essentially, while the layer 2 scaling solutions obtain substantial income from the transaction costs, they send a small part of it to the Mainnet Ethereum for data and security availability. In other words, most of the costs collected in ETH are kept or discharged on the market, reducing the costs of the costs and the burning of the associated ETH on the principal. This has a negative impact on ETH’s supply.
“The L2 is the reason why Ethereum is again inflationary. Ethereum scale. They can get Sonic technology for free. 0 load.
