Justin Bons, the founder and CIO at Cyber Capital, has some fairly critical considerations about how Ethereum is dealing with scaling proper now. In a latest social media rant, Bons argues that specializing in Layer 2 scaling options like Arbitrum has led to fragmentation, which is dangerous for the consumer expertise and divides social capital.
Builders are actually extra centered on pursuing L2 grant packages than on attracting customers, which has shifted priorities, he believes. Because of this, some incentives have gone unusual, and enterprise capitalists, builders and influencers are extra centered on their L2 options than on Ethereum itself.
The actual resolution is within the scaling of Ethereum L1, however management of the blockchain has been reluctant to undertake it, says Bons. He factors out that shifting towards this path might have a big effect on fairness and token costs of sidechains, since these rely upon Ethereum not scaling on the base layer.
Ethereum has large issues:
“L2 scaling” has led to fragmentation, ruining UX & dividing social capital
DAPs now chase L2 grant packages as an alternative of customers…
ETH VCs, devs & influencers are invested of their L2 profitable, not ETH! These are all significantly perverse incentives!
— Justin Bons (@Justin_Bons) August 8, 2024
Buterin disagrees
The influencer, nonetheless, admits that with out L2s, Ethereum’s opponents may need grabbed extra of the market and customers. However, he additionally says that if the scaling occurred on the base layer to satisfy demand, the influence of these opponents would have been a lot smaller.
These feedback from Bons come at a time when Ethereum co-creator Vitalik Buterin has expressed sturdy help for Layer-2 options. Buterin believes that cross-L2 interoperability challenges will quickly be resolved, which is able to result in a smoother consumer expertise throughout the community.
He continues to reward tasks like Arbitrum and Optimism for his or her developments and anticipates additional progress with the introduction of zk-EVM rollups.