Are L3s worth it?

[Webetcoins]

Do you think L3 networks are necessary? If not, why? Do you think they're overhyped? Your input would be greatly appreciated. Thanks. 

Depends on the market mate. From the last bull run like  2020 the users increases until now. So there would be massive growth on users, in the future and I already uses L3 network and somehow they are efficient but not yet massively used compared to famous l2 like arbitrum and optimism. Plus there are more coming L2s, so I think its just an upgrade of L2s, some could say money grabs but yeah for sure some are for that but there are serious projects too build on L3 that solves such problem on the previous ones. So I think its better that we anticipated already the potential use later on at least everyone is ready when the time comes.

It's normal that users will only increase, the longer it gets. But I think I can agree when you say it depends on the market. There are times where the market is in demand and so as the fees rises, so some people will look for a cheaper alternative and they can check out these L3 because they are still underrated.

But, I think when lots of people uses and stick on them, they will be like the others who will also became slow and buggy. But at least, we have more options to choose from now, right? And other networks can now relax for a while. Obviously, L3's are only an upgrade of L2 and L2 is an upgrade of L1. I wouldn't be surprise if there will be L4, L5 and so on... later on .

[d5000]

Do you think L3 networks are necessary?

Current projects advertising themselves as "L3s" are basically "sidechains with a 2-way peg of a sidechain token".

This can have some benefits. For example, let's say in the future billions of people use a particular cryptocurrency like BTC or ETH. We would need several L2s for this currency to be able to be used with reasonable throughput and fees by such a high number of people. A L3 could then offer 2-way-pegs for several L2 currencies and make it easier to interact with counterparties using other L2s.

I however generally see more potential for Lightning as a L3. Lightning could route payments between different channels opened on different L2 blockchains and thus provide the same benefit than a "sidechain L3", additionally bringing more privacy, instant payments and no dependency on a sidechain consensus (which may not be infallible). The only thing it needs are exchange nodes working with atomic swaps. Taproot Assets (ex Taro) for example has such a feature.

Pascalcoin's (PASC) "Safe Box" mechanism already solves Blockchain's scaling issues. This eliminates the need to build additional layers. If developers from other projects used this tech, all of our problems would be solved.

I hadn't heard about that tech and looked now briefly into it. I think it does not solve the issue. It seems to be simply a "mini-blockchain" coin similar to Kaspa or Cryptonite, where not all blocks are stored forever but basically the UTXO set is periodically exchanged between all nodes. This solves only the problem of storage but not the problem of transaction propagation and verification, and storage is not exactly the most urgent problem when we "scale" a blockchain.

L2s do solve this problem because not all nodes have to verify all transactions, and L3s could help too a bit.

However, I think most of current "L3s" are simply scams with completely awkward tokenomics.

[kotajikikox]

Do you think L3 networks are necessary? If not, why?

Not really. They are expensive and complicated. A lot of investors do not even understand the concept of it. It requires a much complex set of knowledge and skills to be able to be utilized. Maybe if investors understood it in a simpler way then we could all use it to our benefits but instead we just don’t.

[mk4]

Not really. They are expensive and complicated. A lot of investors do not even understand the concept of it. It requires a much complex set of knowledge and skills to be able to be utilized. Maybe if investors understood it in a simpler way then we could all use it to our benefits but instead we just don’t.

Why are you focused on the investor side? If a certain investor doesn't understand something he/she simply doesn't invest in it; it doesn't automatically make the asset bad lmao. And if the investor doesn't even understand the concept of a Layer 3 network, then why the heck are you still in the cryptocurrency space.

[Abiky]

I don't think L2s is fast and cheap and if it was fast and cheap there was no need for the L3 Blockchain. Ethereum uses the both layers. Upon using L2 as a backup Blockchain in the network it still face with congestion and high transaction fee. And if layer3 is created and inserted in the Blockchain, Solana and Ethereum will still face congestion because of the memecoins and the  shitcoins using the networks.

Yes. That's the #1 reason why blockchain ends up bloated. There are too many "shitcoins" and "meme" coins taking away unecessary block space. Constant interactions of tokens and dApps will greatly reduce network performance and cost-efficiency. Since Ethereum is the largest smart contract platform in the world, it suffers from severe network congestion. Developers need to roll out constant network upgrades to keep fees as low as possible. But they won't do it because they want everyone to move to centralized L2s instead.

L3s are nothing new as they're layers built on top of existing ones (L2s). They'll be overhyped so developers can keep filling their pockets with money. It's all a cash grab. "Infinite scaling" is what developers should've considered in the first place.

As I've stated before, Pascalcoin's "SafeBox" mechanism allows "infinite scaling" without compromising decentralization. Accounts usually have a record of the last recorded balance before previous blocks are purged from the system. Sort of like a "checkpoint" used by classical PoS coins (eg: Peercoin and Blackcoin). Unfortunately, there's not much interest in doing something like this for Ethereum because of the reasons mentioned earlier. Everyone is following the hype ("meme" coins, NFTs, AI tokens, etc). Perhaps, we'll see L4s become a thing after L3s reach their full capacity? Only time will tell. Hopefully, decentralization is preserved for generations.

[Kelward]

Layer 3 is just a buzzword, nothing different, just an another new network.

Here's the illustration:

Layer 1 was cheap because not many people use it, after many people use it, the network congested and it make L1 become expensive.

Then someone create a new network which is Layer 2, it was cheap because not many people use it, after many people use it, the network congested and it make L2 become expensive.

Then someone create a new network which is Layer 3, it was cheap because not many people use it, after many people use it, the network congested and it make L3 become expensive. Don't be surprised we will see L4,L5,L6,L7, L99...

I guess that nobody can stop innovations and as far as technology is concerned we'll keep seeing upgrades everyday. So developers are always at work trying to invent upgrades of existing layers and it won't surprise me if we continue to see more layers in the future. Layer3 might not seem to be necessary for many today but as it's an added innovation to layer2 we should just accept it as a plus in the layers. Adoption in the crypto space is increasing and I wouldn't complain if I'm seeing more innovations by developers.

[gunhell16]

We need lower transaction fees. So Layer 3s are needed. We don't know, there might be more congestion in the future and Layer 3s might be a good choice.

[~snip~]

Look at how cheap the fees in the L2. How can we need L3 if there are so many L2s available in the market? Are you sure those blockchains will be invaded by human then they will be congested? The list are containing a few L2s. There have been so many new L2s still unlisted from that list like manta or even blast.

L3 is not even needed. It is being created as the purpose of making money only. There's no urgentcy to create L3 blockchain. L3 is only for grab your money. L2s are enough.

I agree with what you mentioned here dude, because in just layer 2 we have a lot of cryptos that can really be taken advantage of besides the low fee's that are here. And it can also give us a good profit in the future as well.

Actually, some of these I hold for my long-term holdings as well which I know will be beneficial in the right time of bull run that we are waiting for right now.
So for now lets accumulate while there is a chance for us to do it.

[betswift]

Do you think L3 networks are necessary? If not, why? Do you think they're overhyped? Your input would be greatly appreciated. Thanks. 

Depends on the market mate. From the last bull run like  2020 the users increases until now. So there would be massive growth on users, in the future and I already uses L3 network and somehow they are efficient but not yet massively used compared to famous l2 like arbitrum and optimism. Plus there are more coming L2s, so I think its just an upgrade of L2s, some could say money grabs but yeah for sure some are for that but there are serious projects too build on L3 that solves such problem on the previous ones. So I think its better that we anticipated already the potential use later on at least everyone is ready when the time comes.

It's normal that users will only increase, the longer it gets. But I think I can agree when you say it depends on the market. There are times where the market is in demand and so as the fees rises, so some people will look for a cheaper alternative and they can check out these L3 because they are still underrated.

But, I think when lots of people uses and stick on them, they will be like the others who will also became slow and buggy. But at least, we have more options to choose from now, right? And other networks can now relax for a while. Obviously, L3's are only an upgrade of L2 and L2 is an upgrade of L1. I wouldn't be surprise if there will be L4, L5 and so on... later on .

With new innovations and other shenanigans, for sure It's a cycle of progress.

[Abiky]

I've been following the L3 discussion, and I have to say, I'm skeptical about their necessity. To me, it seems like a solution looking for a problem. If L2 networks are truly capable of scaling, why do we need another layer on top?

In my opinion, L3 networks are an attempt to address the limitations of L2s, but they might be overcomplicating things. I think the focus should be on improving L2 solutions rather than building another layer. That being said, I do see the potential benefits of L3s in terms of further reducing fees and increasing speeds.

However, I believe the hype around L3s is exaggerated. We're still in the early days of L2 adoption, and already, we're talking about building on top of them. I think we need to take a step back and assess whether L3s are truly necessary or if they're just a fancy solution for a problem that doesn't exist yet.

For now, I'm reserving judgment on L3s. I'd love to see more development and real-world applications before deciding whether they're worth the investment. What do you think? Am I missing something?

Exactly. L3s would be limited to L2s' transaction capacity. What if L3s become congested in the long run? Developers will come up with L4s as a short-term fix. Then we'll have L5s, L6s, and so on. A complete waste of time and money, imo.

What works best is on-chain scaling. If developers focused on this, we wouldn't had to deal with too many unnecessary layers. Having only two layers is good enough for me. I think developers are hyping L3s to fill their pockets with money. It's all about greed these days. I'd definitely wait to see some real world applications for L3s. I don't think the hype will last that much tbh.

[Sayeds56]

We need lower transaction fees. So Layer 3s are needed. We don't know, there might be more congestion in the future and Layer 3s might be a good choice.

Look at how cheap the fees in the L2. How can we need L3 if there are so many L2s available in the market? Are you sure those blockchains will be invaded by human then they will be congested? The list are containing a few L2s. There have been so many new L2s still unlisted from that list like manta or even blast.

L3 is not even needed. It is being created as the purpose of making money only. There's no urgentcy to create L3 blockchain. L3 is only for grab your money. L2s are enough.

You are absolutely right, Layer3 (L3) is not serving any meaningful purpose, and its market performance reflects how poorly is its acceptance in cryptocurrencies market. Its main net was recently launched and its community has been working for month for its airdrop farming, spent lot of funds to to accumulate cubes and in the end very few participants were rewarded with L3 tokens which are worthless now due to widespread disappointment within the community.

[betswift]

I've been following the L3 discussion, and I have to say, I'm skeptical about their necessity. To me, it seems like a solution looking for a problem. If L2 networks are truly capable of scaling, why do we need another layer on top?

In my opinion, L3 networks are an attempt to address the limitations of L2s, but they might be overcomplicating things. I think the focus should be on improving L2 solutions rather than building another layer. That being said, I do see the potential benefits of L3s in terms of further reducing fees and increasing speeds.

However, I believe the hype around L3s is exaggerated. We're still in the early days of L2 adoption, and already, we're talking about building on top of them. I think we need to take a step back and assess whether L3s are truly necessary or if they're just a fancy solution for a problem that doesn't exist yet.

For now, I'm reserving judgment on L3s. I'd love to see more development and real-world applications before deciding whether they're worth the investment. What do you think? Am I missing something?

Exactly. L3s would be limited to L2s' transaction capacity. What if L3s become congested in the long run? Developers will come up with L4s as a short-term fix. Then we'll have L5s, L6s, and so on. A complete waste of time and money, imo.

What works best is on-chain scaling. If developers focused on this, we wouldn't had to deal with too many unnecessary layers. Having only two layers is good enough for me. I think developers are hyping L3s to fill their pockets with money. It's all about greed these days. I'd definitely wait to see some real world applications for L3s. I don't think the hype will last that much tbh.

Having more funds to spare or put into the pocket is the real hype behind it, in my opinion, too. It's our nature to want more, and more so for corps and founders. Thanks for this thread!

[Sayeds56]

Having more funds to spare or put into the pocket is the real hype behind it, in my opinion, too. It's our nature to want more, and more so for corps and founders. Thanks for this thread!

It is quite natural to desire more and more money and this important human emotion drives the hype in the market. On the other hand fear of loss pushes us to take exit. These two core emotion are behind motivating the traders to take entry and exit from market.

Regrading Layer token (L3), its performance has been lacklustre since it was listed, which demonstrates its weak utility, therefore developers of the project need to do something to enhance its utility to make it attractive for investment.