Ethereum L2 Security Debate: Only 34% of Assets Inherit Core Guarantees, Says Researcher

Toghrul Maharramov, a prominent rollup researcher and former Scroll contributor, has ignited discussion within the Ethereum Layer 2 (L2) ecosystem by highlighting a critical distinction in asset security. In a recent social media post, Maharramov stated, > "Only the canonically bridged assets inherit Ethereum security guarantees. That's only 34% of L2 assets." This assertion underscores the varying degrees of security inheritance for funds moved onto or created within L2 networks.

Canonically bridged assets are those that originate on Ethereum's Layer 1 (L1) and are securely locked in an L1 escrow contract, with a corresponding representation minted on the L2. This method ensures that these assets retain the robust security of the underlying Ethereum blockchain, allowing users to withdraw them back to L1 even in the event of an L2 failure or malicious activity. Their security is directly tied to Ethereum's consensus mechanisms.

In contrast, the majority of L2 assets fall into categories such as externally bridged or natively minted. Externally bridged assets utilize third-party bridges, which introduce additional trust assumptions and rely on the security model of that specific bridge, rather than directly on Ethereum's L1. Natively minted assets, created directly on the L2, depend entirely on the L L2's operational integrity and its own set of security measures, which may not always align with Ethereum's L1 guarantees.

Data from platforms like L2Beat categorize Total Value Secured (TVS) on L2s into these distinct types: canonically bridged, externally bridged, and natively minted. While the precise percentage of each category fluctuates across different L2s and over time, Maharramov's cited 34% figure emphasizes that a significant portion of L2 value operates under different security assumptions than those fully inherited from Ethereum's L1. For instance, on some L2s, natively minted assets can form a substantial part of the total value.

Maharramov's statement brings to the forefront the ongoing debate surrounding "shared security" within the L2 landscape. It serves as a crucial reminder for users, developers, and investors to understand the specific bridging mechanisms and inherent trust models associated with assets on various L2 platforms. The level of security inheritance from Ethereum's L1 is directly dependent on how assets are brought onto or created within these scaling solutions.