Ethereum co-founder Joe Lubin mentioned the way forward for the good contract community on the Digital Asset Summit and stated layer-2 (L2) scaling networks would proceed to be central to the Ethereum ecosystem.
In an unique interview with Cointelegraph’s Turner Wright, Lubin stated functions would require next-generation databases powered by high-throughput blockchain applied sciences. The Ethereum co-founder added:
“The Ethereum ecosystem is so massive and so mature that it will likely be finest for brand new sorts of databases — new sorts of layer 2 networks — to arrange store, as layer 2s of Ethereum. We’ve got our personal that has some nice traits referred to as Linea.”
“One other nice utility, or nice layer 2, that’s rising quickly known as MegaETH,” Lubin continued.
The Ethereum co-founder finally concluded that newer layer-1 chains could have a tricky time competing with the Ethereum community, which already options sturdy structure and safety ensures.
Joe Lubin talking on the Digital Asset Summit. Supply: Digital Asset Summit
Associated: Ethereum pushes again Pectra improve to conduct third testnet ‘Hoodi’
Traders have doubts about layer-2 strategy
In response to L2Beat, there are at present over 140 distinctive scaling options for Ethereum, together with 60 rollup networks.
Traders have criticized Ethereum’s layer-2 networks as parasitic components that drain the layer-1 community of revenues whereas solely contributing minimal financial worth to the bottom layer.
Ethereum’s common fuel payment dropped by 95% following the Dencun improve in March 2024, which dramatically lowered transaction charges for layer-2 networks.
This discount in transaction charges prompted a 99% collapse in income on the Ethereum base layer by September 2024.
Community charges on the Ethereum layer-1 flatline following the Dencun improve. Supply: The TIE Terminal
Since that point, the worth of Ether (ETH) has usually been in decline, plummeting to a current low of roughly $1,759 on March 11 and main many analysts to foretell an additional worth decline in 2025.
Information from Farside Traders exhibits outflows from Ether exchange-traded funds (ETFs) have continued for 11 consecutive days amid a broader downturn within the crypto markets.
Probably the most vital day of outflows occurred on March 13, when traders pulled a collective $73.6 million from ETH ETFs as they dumped risk-on property for much less risky alternate options corresponding to money, authorities securities and dollar-pegged stablecoins.
Journal: MegaETH launch might save Ethereum… however at what value?
