01-23-2023, 12:47 PM
Here’s my theory why the market will shift from L1 wars to Ethereum L2 wars.
<!-- SC_OFF --><div class="md"><p>This is of course only a theory and I am by any means not saying that this is true. But it’s fun to speculate.</p> <p>I digress;</p> <p>The entire reason we saw a massive boom in L1 activity last bull run was because of Ethereum’s incapability of scaling at the time.</p> <p>Even though L2s we available for use on Ethereum, the tech was still relatively old compared to now and there was still trouble trying to keep up with the massive demand on the chain.</p> <p>This of course prompted people to start searching for alternatives and so, an L1 war happened briefly.</p> <p>The words “ETH killer” was being thrown around left and right.</p> <p>Now, the reason I think the market will shift from an L1 war to an Ethereum-based L2 war is because during this time, Ethereum’s scalability issues started becoming less and less severe and might soon become completely irrelevant when proto-danksharding gets implemented.</p> <p>This will give L2s a massive boost in throughput</p> <p>And that’s not it, L2s of all kinds have started to improve their tech drastically.</p> <p>Zksync, Scroll, Polygon, and a bunch of other scaling solutions are working on zero-knowledge tech</p> <p>Other chains still working with optimistic tech are now starting to use a modular approach.</p> <p>We saw that recently with Mantle Network as its implementing a parallel style of scalability onto Ethereum.</p> <p>As you can see, each L2 is doing its own thing and competition is getting heated.</p> <p>The only argument that alt L1s had over Ethereum was that they were more scalable, but now that argument is irrelevant and the new argument is now “which L2 is going to be at the top?”</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FutilelyDare899"> /u/FutilelyDare899 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10iow6p/heres_my_theory_why_the_market_will_shift_from_l1/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10iow6p/heres_my_theory_why_the_market_will_shift_from_l1/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>This is of course only a theory and I am by any means not saying that this is true. But it’s fun to speculate.</p> <p>I digress;</p> <p>The entire reason we saw a massive boom in L1 activity last bull run was because of Ethereum’s incapability of scaling at the time.</p> <p>Even though L2s we available for use on Ethereum, the tech was still relatively old compared to now and there was still trouble trying to keep up with the massive demand on the chain.</p> <p>This of course prompted people to start searching for alternatives and so, an L1 war happened briefly.</p> <p>The words “ETH killer” was being thrown around left and right.</p> <p>Now, the reason I think the market will shift from an L1 war to an Ethereum-based L2 war is because during this time, Ethereum’s scalability issues started becoming less and less severe and might soon become completely irrelevant when proto-danksharding gets implemented.</p> <p>This will give L2s a massive boost in throughput</p> <p>And that’s not it, L2s of all kinds have started to improve their tech drastically.</p> <p>Zksync, Scroll, Polygon, and a bunch of other scaling solutions are working on zero-knowledge tech</p> <p>Other chains still working with optimistic tech are now starting to use a modular approach.</p> <p>We saw that recently with Mantle Network as its implementing a parallel style of scalability onto Ethereum.</p> <p>As you can see, each L2 is doing its own thing and competition is getting heated.</p> <p>The only argument that alt L1s had over Ethereum was that they were more scalable, but now that argument is irrelevant and the new argument is now “which L2 is going to be at the top?”</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FutilelyDare899"> /u/FutilelyDare899 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10iow6p/heres_my_theory_why_the_market_will_shift_from_l1/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10iow6p/heres_my_theory_why_the_market_will_shift_from_l1/">[comments]</a></span>