Crypto Blog
Emin Gün Sirer, the founder and CEO of Ava Labs, has sounded an alarm on the rise of substandard layer 2 solutions in the crypto space.
A major red flag he noted was the presence of centralized sequencers in these projects, which lack fraud-proof mechanisms. He also cautioned againstwith token sales only for fundraising purposes without a clear utility within their network, which often signals a lack of substantive value or innovation.
To differentiate between genuine L2 projects and those that are not, Sirer advises that investors seek solutions that address the core issues in the crypto space, such as, scalability, and seamless integration with traditional financial systems. Sirer further mentioned the importance of L2 platforms supporting different use cases with benefits beyond technical enhancements.
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