Exclusive Interview with OFFCHAIN LABS Co-Founder and Chief Scientist Ed Felten | KBW2023

arbitrum is fairly far along in the decentralization we're formerly at stage one um and that means that some of the important functions are are decentralized uh we have decentralized governance uh we have working fraud proofs meaning that a permission set of parties can participate in the main arbitrum [Music] protocol I think layer twos are going to play a very important role in the development and Adoption of blockchain Technology layer twos and layer 3es are one of the keys to scaling blockchain technology up to the next 100 million or billion users we think that security and scalability go together that you have to have Security in order to build scalability because you don't deserve to have many users if you don't provide security so we've set out from the beginning to provide both together the next major decentralization stage is making the validator role in arbitrum permissionless so uh we have a new protocol called bold which makes that possible which is currently in review and after that we'll work to decentralize the sequencer role I think there's a lot of Promise in L2 projects and I think uh in increasing amount of activity will be on L2 so I'm very optimistic for the the growth of L2 as a technology as to what happens to token prices I don't know if anyone can predict that the market has its own views um I think long term uh the L2 projects will succeed and I would hope that uh token values will um will be consistent with that but who knows