Ethereum
Endgame for Ethereum (ETH) indicated by Andrew Huang, formerly of Paradigm
Vladislav Sopov
Becoming a public good that maximizes decentralization should be the goal of the Ethereum (ETH) ecosystem, says Conduit founder
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Andrew Huang, founder of Paradigm-backed Conduit platform, believes that Ethereum’s L2s should be able to inherit its level of decentralization at a lower cost. This achievement should be the only final status for Ethereum (ETH), the entrepreneur stressed.
“Internet’s Native Currency”: Andrew Huang on Ethereum’s (ETH) End Goal
Ethereum (ETH), the largest smart contract platform, should pursue the goal of becoming a public good that maximizes decentralization. All its L2s should be able to inherit the same level of decentralization in a cost-effective manner.
At the same time, creating artificial bottlenecks for L1/L1 interaction or maximizing fee transfer to L1 nodes amounts to “missing an opportunity” for Huang.
Meanwhile, the “biggest opportunity” for Ethereum (ETH) remains its unique status as the internet’s native currency, the Conduit founder concluded.
With this tweet, Huang responded to the analysis of Georgios Konstantopoulos, CTO of Paradigm. The latter pointed out that “forcing market structures” and overthinking might not be good for the progress of L2s. Instead, L2 networks should only focus on optimal scalability and accessibility, while “interoperability” still seems to him to be a made-up problem.
In this scheme, Ethereum’s L1 is expected to function as a data availability layer for EVM networks, Paradigm’s CTO added.
Arbitrum (ARB) loses its dominance in L2, TVL share falls below 40%
Ether (ETH) is trading at $3,462, up 2% in the past 24 hours. Trading volume jumped 57% overnight and surpassed $10 billion, CoinMarketCap Data watch.
Meanwhile, the total USD-denominated value locked in Ethereum’s L2s ecosystem is extending its decline. Over the past month, it has fallen from $49.3 billion to $42.1 billion, according to L2Beat.
Arbitrum (ARB), the undisputed leader according to TVL, is losing ground: its dominance has fallen below 40%, while its closest competitor, Base (BASE), has almost reached 17%.
OP Mainnet is trying to hold above the $15 billion level, while the recent Blast (BLAST) media is responsible for 6.9% of the TVL in Ethereum’s L2 ecosystem.
About the Author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.
I have worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)