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More

    Polygon co-founder sees no future for Solana, Aptos, Avalanche, Cardano

    Latest News

    Polygon co-founder Sandeep Nailwal mentioned Ethereum would emerge because the dominant sensible contract protocol — with all different competing layer 1s dropping by the wayside.

    Talking to Ran Neuner on the Crypto Banter YouTube channel, Nailwal described his future imaginative and prescient of the crypto panorama:

    “I don’t assume there’s going to be a multi-layer 2 surroundings. There’ll be a layer 1 surroundings; there will likely be one single layer 1, which is Ethereum in my thoughts.”

    Person exercise will occur on layer 2s that work together with the Ethereum base layer, mentioned Nailwal.

    Neuner mentioned, “that’s an enormous assertion,” and requested Nailwal to make clear whether or not if thinks the likes of Solana, Aptos, Avalanche, and Cardano will ultimately disappear.

    Nailwal mentioned that not one of the beforehand talked about protocols had demonstrated vital traction, nor have their respective layer 2s. With that, he declared that no different chain may compete with Ethereum.

    “I don’t see any vital traction on any of those chains.”

    The video elicited a variety of feedback — one consumer identified that layers 2s exist to patch the failings of the bottom layer and that “new layer 1s” require no patching.

    Others spoke of Nailwal’s shortsightedness for dismissing the multi-chain future.

    See also  Finance Knowledgeable Raoul Pal Says 100% of His Web Price in Crypto, XRP, SOL

    Polygon woes

    On Feb. 21, Polygon introduced chopping 20% of its workforce as a result of prevailing macroeconomic situations.

    Regardless of the discount in headcount, the corporate mentioned it stays in a robust monetary place — together with money holdings of over $250 million and a MATIC struggle chest to the tune of 1.9 billion tokens, valued at roughly $2.7 billion.

    Customers talked about a delay in block manufacturing that lasted round two hours on Feb. 22. Nailwal attributed the difficulty to an issue with the native block explorer and really useful customers use OKLink within the meantime.

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