Ethereum has evolved a lot since its debut in the crypto ecosystem. The project has become the platform of platforms in our ecosystem. Over the last 3 years, we have seen the trend of becoming a Layer 2 that operates on the Ethereum network.
The trend was triggered by Polygon (MATIC) by becoming a "side-chain" of Ethereum in 2019. Though there were some others such as Loopering, they could not reach millions like Polygon did. Following Polygon Network, we have seen a rush into the mainnet via other L2 solutions.
Why Layer 2 Rather Than Layer 1?
Basically, the mainnet is not ready to be used by thousands of people every second. The existing blockchains cannot handle the millions of transactions submitted every minute. If the networks use tokens for transactions, rather than a regenerated Resource Credits system like in Hive 😉, the tx approval time and fees skyrocket.
The layer 2 solutions are here to make it cheaper, faster, and scalable for blockchains. Especially when we consider the hard work that Vitalik and some other genius guys in his team, Ethereum are becoming a stronger giant of crypto. Obviously, it should scale and function perfectly to be the king of smart contract blockchains.
There are some amazing projects, which are also likely to make airdrops, such as ZkRollups, Rollups, Pasma (child chains by Polygon) also scaling solutions like sharding. These projects will make Ethereum more scalable by maximizing its capacity.
Should Everything Layerize on Ethereum?
My first answer will always be NO. If I start thinking about this question, may answer becomes a soft No.
If we be realistic, there are hundreds of Ethereum copies in crypto. These blockchains have their own projects, teams, communities and systems that have been going on. However, the question is: Will we need another Ethereum if it is possible to use a perfectly cheap, fast, and scalable Ethereum?
Honestly, most of these Ethereum copies can be a Layer 2 on Ethereum and start contributing to the giant project. However, the decentralization and diversification of blockchains' technological advancement are two concerns that come to my mind initially.
We need more Layer 2 projects, more teams, and layer 2 facilities to contribute to the Ethereum mainnet. However, it will never mean that we should make everything a layer of Ethereum. In this case, we may face worse concerns than high tx fees or scalability.
Let ZkRollups, Shards, and new Layer 2 solutions enrich Ethereum to maximize its efficacy. It is one of the existing catalysts of blockchain adoption as well as Bitcoin ✌🏼
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