A portion of the Ethereum group is pressuring the Ethereum Basis to make selections which will “break the complete social cloth” of the good contract community by proscribing Ethereum’s layer-2 (L2) networks, Polygon co-founder Sandeep Nailwal mentioned.
Talking throughout a March 28 episode of Cointelegraph’s Chain Response present on X, the Polygon founder mentioned that he has solely seen this sort of stress and anti-L2 rhetoric through the present market cycle amid suppressed value motion for Ether (ETH).
“Everyone understands that if Ethereum doesn’t survive, the layer-2s received’t survive,” Nailwal mentioned, including:
“The Ethereum group shouldn’t stress the builders sufficient — I shouldn’t be capable of stress the builders sufficient — for value actions and all that, they might find yourself making a choice that fully breaks the social cloth of Ethereum.”
The Polygon co-founder praised Vitalik Buterin’s management and his extra lively function within the Ethereum Basis, saying he has been the largest drive in retaining Ethereum’s ecosystem cohesive.
Nailwal characterised Buterin because the “DNA” of the community that has attracted many gifted builders through the years who’re constructing layers on prime of the Ethereum base layer.
The full worth secured throughout Ethereum’s scaling options. Supply: L2Beat
Associated: Getting crypto out of the ‘AOL period’ — Sandeep Nailwal
Settlement layers vs execution layers
In response to Nailwal, the layer-1 vs layer-2 dichotomy is the mistaken approach to consider blockchain networks.
The Polygon founder outlined solely two settlement layers in all of crypto, Bitcoin and Ethereum, with all different crypto networks being execution layers.
Sooner or later, nearly each utility could have its personal blockchain to keep away from paying gasoline charges and can publish ultimate transactions to one in every of these settlement layers, Nailwal mentioned.
Ethereum’s base layer will profit from this explosion of execution layers, accruing worth from these ultimate settlements and selling the long-term progress of the ecosystem, which is able to at some point be seamlessly interoperable.
Ethereum base layer charges drop following the Dencun improve. Supply: The Tie Terminal
Critics of Ethereum’s execution layers say that the scaling networks are presently cannibalizing the bottom layer, which culminated in a 99% drop in Ethereum L1 income by September 2024.
Nailwal concluded that on account of these variations between settlement and execution layers, no different crypto community is actual competitors for Ethereum besides the Bitcoin community.
Nevertheless, the one approach the Bitcoin community might be a risk to Ethereum is that if it adopted extra superior scripting choices that give it dependable, good contract performance like Ethereum, Nailwal mentioned.
Journal: Ethereum L2s will likely be interoperable ‘inside months’: Full information