A portion of the Ethereum neighborhood is pressuring the Ethereum Basis to make choices that will “break all the social cloth” of the sensible 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 the sort of strain and anti-L2 rhetoric through the present market cycle amid suppressed value motion for Ether (ETH).
“All people understands that if Ethereum doesn’t survive, the layer-2s received’t survive,” Nailwal mentioned, including:
“The Ethereum neighborhood shouldn’t strain the builders sufficient — I shouldn’t be capable of strain 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 position within the Ethereum Basis, saying he has been the most important drive in maintaining Ethereum’s ecosystem cohesive.
Nailwal characterised Buterin because the “DNA” of the community that has attracted many proficient builders over time who’re constructing layers on prime of the Ethereum base layer.
The entire worth secured throughout Ethereum’s scaling options. Supply: L2Beat
Associated: Getting crypto out of the ‘AOL period’ — Sandeep Nailwal
Settlement layers vs execution layers
Based on Nailwal, the layer-1 vs layer-2 dichotomy is the incorrect method 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 may have its personal blockchain to keep away from paying gasoline charges and can put up ultimate transactions to one among 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 development of the ecosystem, which can sooner or later 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 at present cannibalizing the bottom layer, which culminated in a 99% drop in Ethereum L1 income by September 2024.
Nailwal concluded that attributable to these variations between settlement and execution layers, no different crypto community is actual competitors for Ethereum besides the Bitcoin community.
Nevertheless, the one method the Bitcoin community could possibly be a risk to Ethereum is that if it adopted extra superior scripting choices that give it dependable, sensible contract performance like Ethereum, Nailwal mentioned.
Journal: Ethereum L2s might be interoperable ‘inside months’: Full information