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https://warpcast.com/~/channel/ethfinance
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oxdev.base.eth 🎩🔵Ⓜ️
@ayojoseph
@aviationdoctor.eth i don't know if you've been following the eth believers meltdown on X, however I have a question to ask, is L2 meant to br a short term solution or a long term solution for L1 and how can ethereum actually see any growth in terms of price movement?
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Thomas
@aviationdoctor.eth
Thanks for the @. I find it strange to be a believer (implied: in the tech) and yet have a meltdown now. Everything in the Ethereum tech is better than it’s ever been, and will improve further in a month with Pectra. The only thing that has changed is the price. We’re back at the same price as when Ethereum has 10x fewer devs, 10x lower tx volume, etc. If this is cause for meltdown, then it’s clear the belief was not in the tech, but in the promise to get rich. Ethereum doesn’t need a high ETH price to operate as intended. At any rate, to your question. My understanding is that the intent was always to increase capacity, and demand would follow. That plan has been and is being executed in the form of L2s. They are the long-term preferred solution for scaling Ethereum and I don’t see that changing. Based rollups next year may eventually improve staking yields and make securing the network by holding and staking ETH more attractive again. That should resolve some concern about L2s being parasitic
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Thomas
@aviationdoctor.eth
Also it’s too soon to increase blob fees, because DA is cheap elsewhere and we don’t want L2s to just procure it from another chain. But once the ecosystem has settled (read: real-world use cases like financial tokenization are operational), then will be the time to revisit the economic equation. Until then I see the current strategy to be one of loss leader for Ethereum. We can’t just be purists about decentralization and credible neutrality, we also need to remain cheap or builders will have no qualms moving to other L1s. And of course there’s a long way to go to get L2s to higher stages of decentralization and credible neutrality themselves, which is the end game
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oxdev.base.eth 🎩🔵Ⓜ️
@ayojoseph
https://x.com/TrustlessState/status/1910719580982431866?t=hCPIabIIgQEgk64wNEjayQ&s=19
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oxdev.base.eth 🎩🔵Ⓜ️
@ayojoseph
https://x.com/fede_intern/status/1911218594299490347?t=SQJ6UvYhrYsNLovCDEPX8Q&s=19
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