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Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: ABCbits on March 10, 2024, 11:16:35 AM

Title: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: ABCbits on March 10, 2024, 11:16:35 AM
Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li

In the ongoing Ethereum layer 2 debate, Kenny Li, co-founder of Manta Pacific, is championing a game-changing idea – the adoption of a “modular” approach for long-term success in the ever-evolving blockchain world. Li argues that many existing layer 2 networks might not stand the test of time, emphasizing the crucial need for adaptability and flexibility in blockchain development. Read more here (https://the Url is blocked due to spam #Cpspam/news/top-8-altcoins-with-100x-potential-aiming-for-1-million-profit/).

Edit: since the news link blocked by this forum, here's same news with different wording from another website, https://coinmarketcap.com/community/articles/65e93704e3f08427066545f3/ (https://coinmarketcap.com/community/articles/65e93704e3f08427066545f3/).


I agree with his opinion, there are simply too many L2 with apparently similar usage or capability. Even Polygon/MATIC popularity is in decline.Your opinion is greatly appreciated.
Title: Re: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: bitmover on March 11, 2024, 02:55:10 AM
Quote from: ABCbits on March 10, 2024, 11:16:35 AM

I agree with his opinion, there are simply too many L2 with apparently similar usage or capability. Even Polygon/MATIC popularity is in decline.Your opinion is greatly appreciated.

I don't think so.
 I recently so a Vitalik's post on his personal blog, mentioning how important will L2 be in ethereum's future

https://vitalik.eth.limo/general/2023/10/31/l2types.html

I think L2 is the future, for both bitcoin and ethereum. Not everything will need to be in the mainchain...
Title: Re: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: Zed0X on March 11, 2024, 08:32:52 AM
Yeah, and Manta Pacific could be one of the projects written in crypto obituaries ;D Jokes aside, we already know not every project will survive once the bear market hits. Whether L2 on Ethereum, Bitcoin, or in other blockchains, only the most funded and supported survives.
Title: Re: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: ABCbits on March 11, 2024, 09:22:59 AM
Quote from: bitmover on March 11, 2024, 02:55:10 AM
Quote from: ABCbits on March 10, 2024, 11:16:35 AM
I agree with his opinion, there are simply too many L2 with apparently similar usage or capability. Even Polygon/MATIC popularity is in decline.Your opinion is greatly appreciated.
I don't think so.
 I recently so a Vitalik's post on his personal blog, mentioning how important will L2 be in ethereum's future

https://vitalik.eth.limo/general/2023/10/31/l2types.html

I think L2 is the future, for both bitcoin and ethereum. Not everything will need to be in the mainchain...

I agree not everything need to be stored on main chain (especially arbitrary data, such as NFT's image). But even after re-reading that blog, i still think few L2 (each with different system type) would be sufficient.
Title: Re: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: bitmover on March 11, 2024, 04:02:31 PM
Quote from: ABCbits on March 11, 2024, 09:22:59 AM
Quote from: bitmover on March 11, 2024, 02:55:10 AM
Quote from: ABCbits on March 10, 2024, 11:16:35 AM
I agree with his opinion, there are simply too many L2 with apparently similar usage or capability. Even Polygon/MATIC popularity is in decline.Your opinion is greatly appreciated.
I don't think so.
 I recently so a Vitalik's post on his personal blog, mentioning how important will L2 be in ethereum's future

https://vitalik.eth.limo/general/2023/10/31/l2types.html

I think L2 is the future, for both bitcoin and ethereum. Not everything will need to be in the mainchain...

I agree not everything need to be stored on main chain (especially arbitrary data, such as NFT's image). But even after re-reading that blog, i still think few L2 (each with different system type) would be sufficient.

There is even a somewhat new L2 on bitcoin, liquid network.

I have used a few times  , looks easier to use than light network.  I think LN is too complicated...
Title: Re: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: ABCbits on March 12, 2024, 11:00:37 AM
Quote from: bitmover on March 11, 2024, 04:02:31 PM
Quote from: ABCbits on March 11, 2024, 09:22:59 AM
--snip--
There is even a somewhat new L2 on bitcoin, liquid network.

Actually it's been around for some time, where it's 1st block created on late 2018.

Quote from: bitmover on March 11, 2024, 04:02:31 PM
I have used a few times  , looks easier to use than light network.  I think LN is too complicated...

Yeah, it's definitely easier when LN involve many stuff such as watchtower (to prevent cheating), channel balance flow (how much you can receive/send) and many more. But LN still more popular option, probably because Liquid is federated.
Title: Re: Only Few Ethereum L2-Altcoins Will Survive the Next 5 Years: Kenny Li
Post by: joniboini on March 13, 2024, 10:57:57 AM
So what kind of test is he referring to? He talked about modular or monolithic or whatever new term he use but did not explain how the market will test them. Is he saying that an L2 will die if it can't be used by new blockchain projects easily, or what? He claims ETH survived because the previous ETH competitor failed to adapt, but isn't it easy for them to copy what ETH did if there is enough incentive to do so? If anything it sounds like a popular project because they are the first, the most aggressive in marketing, and so on will be the one to survive instead of this modular vs mono debate thing. CMIIW.