A portion of the Ethereum neighborhood is pressuring the Ethereum Foundation to make selections that will “break the entire social fabric” of the sensible contract community by limiting Ethereum’s layer-2 (L2) networks, Polygon co-founder Sandeep Nailwal mentioned.
Speaking throughout a March 28 episode of Cointelegraph’s Chain Reaction 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 price action for Ether (ETH).
“Everybody understands that if Ethereum doesn’t survive, the layer-2s won’t survive,” Nailwal mentioned, including:
“The Ethereum community should not pressure the developers enough — I should not be able to pressure the developers enough — for price movements and all that, they may end up making a decision that completely breaks the social fabric of Ethereum.”
The Polygon co-founder praised Vitalik Buterin’s management and his more active role in the Ethereum Foundation, saying he has been the most important power in protecting Ethereum’s ecosystem cohesive.
Nailwal characterised Buterin because the “DNA” of the community that has attracted many proficient builders through the years who’re constructing layers on prime of the Ethereum base layer.
The complete worth secured throughout Ethereum’s scaling options. Source: L2Beat
Related: Getting crypto out of the ‘AOL era’ — Sandeep Nailwal
Settlement layers vs execution layers
According to Nailwal, the layer-1 vs layer-2 dichotomy is the unsuitable manner 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.
In the longer term, nearly each application will have its own blockchain to keep away from paying fuel charges and can publish last 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 last settlements and selling the long-term development of the ecosystem, which can in the future be seamlessly interoperable.
Ethereum base layer charges drop following the Dencun improve. Source: 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 revenue 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.
However, the one manner the Bitcoin community may very well 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.
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