Ryan Sean Adams

So they didn't say that they were leaving the Layer 2 ecosystem.

They didn't even imply that.

Or did they?

Some people are interpreting that

There's something here that might imply in the future BASE is carving out some space for them to become their own, say, Tempo-style EVM Layer 1.

One of them is an argument from Gabe Shapiro, a crypto lawyer.

What does he say?

And my understanding is they could get there by decentralizing their sequencer rather than that being base run.

But at the point that you decentralize your sequencer, right?

The question is like, well, you have to start incenting other sequencers outside of Coinbase with some sort of token, you know, staking.

And then maybe you just do the whole consensus layer as well.

I think that's some of the logic here, which is like,

I mean, what's the point really in being a stage one roll-up at that point?

You may as well just decentralize everything and like so-called decentralize everything in air quotes, which means like run your own consensus layer and do kind of the tempo playbook.

He continues, he said, I wonder what Coinbase will do here.

Either go with the Kraken approach and Kraken is pursuing based roll-ups for Inc.

Okay, so that means...

Basically, Ethereum layer one will be the decentralized sequencer layer, and that passes all the tests for decentralization.

Or they could roll their own layer one and create a validator set and go the Tempo, Canton, you know, circle arc approach.

So that's what the speculation here is.