Ethereum founder Vitalik Buterin praised Coinbase's Layer 2 network, Base, for successfully balancing centralized user experience improvements with the decentralized security of Ethereum. Since its launch in August 2023, Base has amassed $15 billion in assets, although it reached peaks above $16 billion earlier this year. Critics have raised concerns about its centralized aspects, with claims that these could expose users to risks, such as potential fund theft. However, Buterin defended the network, stating that Layer 2 solutions are extensions of Ethereum, designed to enhance security while improving user experience. He referred to L2Beat, an analytics project tracking the security and performance of L2 networks, to counter critics who focus on centralized elements. Buterin emphasized that L2 networks provide non-custodial security and functions, stating that they are not merely centralized servers but integral parts of the Ethereum ecosystem. The discussion highlights the ongoing debate about centralization and security within blockchain technology as Layer 2 solutions evolve.

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