According to the founder of Polygon, the cryptocurrency industry is being completely dominated by Ethereum and the layers-2 above.
Appearing in a discussion on the Crypto Banter YouTube channel with Ran Neuner, Polygon founder Sandeep Nailwal gave his view on the overall crypto industry landscape.
“I don’t think the future belongs to multi-layer-2 environments. There is only one layer-1 in my mind, which is Ethereum.”
So, this happened earlier! https://t.co/j1idDwrp5G
— Ran Neuner (@cryptomanran) February 22, 2023
According to Nailwal, Ethereum will be the dominant smart contract platform, while all other competing layer-1s collapse. From there, users will flock to work on Ethereum-based layers-2.
When asked about by Neuner Solana, Aptos, Avalanche and Cardano, Nailwal went on to say that these protocols and their respective layer-2 are not really mature yet, and there won’t be any other chain that can compete with Ethereum.
Faced with the above views, many viewers have rebutted below the comment section. One account pointed out that layers-2 exist mostly just to patch the base layer, and that the “new generation layer-1” doesn’t need that. Others criticized Nailwal’s short-sightedness.
But if layer 2s are there to help improve L1s but new L1s especially targeting enterprise have address those issues doesn’t it stand to reason that they wouldn’t have L2s ?
— Dcrypt (@LuxdeCentral) February 22, 2023
But this is not the first time this famous layer-2 leader has expressed his opinion or “created drama” for himself. Back in October 2022, Sandeep used to harsh criticism of co-founder Solana Labsdenigrating Solana’s weakness and denigrating this blockchain.
3 days ago, Polygon Labs has announced a 20% reduction in its workforce due to current macroeconomic conditions. Despite having to streamline human resources, the company still has enough financial resources when holding 250 million USD and 1.9 billion MATIC (2.7 billion USD).
Recently, a fatal incident seemed to have happened to Polygon, but only Polygonscan blockchain activity tracker has problems.
However, Polygon still achieved many remarkable achievements in the past time, despite the downtrend. In addition to these big cooperation newsthe crypto community is still waiting zkEVM . solution Coming out on March 27th.
Synthetic Kyptos
