Odysseus

So it's also very interesting how they perceived decentralization.

But in Arbitrum, they stayed for two days.

Right?

You think they thought they were safe then on Arbitrum?

They probably didn't know what the security council could do or how quickly they would coordinate.

So this will never work again for an L2 is kind of what that means.

I don't think stage two will happen.

The problem with why protocols don't go to stage two, right, is because Ethereum development is disconnected from roll-ups, right?

The proof system they have is the most complicated part of the whole roll-up design, is the thing that holds them back.

It's a thing, it's an insane amount of technical, like tech debt and baggage, right?

That's why they're not fast enough.

That's why they're not better, you know, they're slower than Solana.

And the problem is that with every Ethereum outgrade,

Most people don't know that, but these proof systems break all the time.

And they break because the Ethereum L1 development happens almost in isolation from them, right?

Suddenly they have a new L1 upgrade and there is some very tiny change in the protocol and that breaks the proof system and they have to work two months to fix it.

I think that's the reason why they're not in stage two.

And I think they will find other ways to either not have liability, maybe Coinbase spins out base, or they become fully regulated and they totally lean into it.

But from a technical point of view, unless Ethereum and rollups are more enshrined, I don't see them being able to get to stage two.

Like it's technically infeasible.