Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: erus on November 30, 2024, 10:30:27 AM
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(https://i.imgur.com/VInQmJn.png)
I spontaneously created this topic because I remembered my previous post (https://www.altcoinstalks.com/index.php?topic=317380.msg1674567#msg1674567) with KryptoBull , so I was inspired to create a topic about Will Solana Launch Layer 2 Someday?
We can see that the Solana coin is getting more and more communities, the price of Solana is increasing, this will likely make the transaction fee on the Solana coin expensive too. Not to mention the system of the Solana coin is PoH or Proof of History which if the transaction is carried out massively it will definitely go out and has been proven several times.
1. If the blockchain process goes out like this continues, will the Solana coin community later launch Layer 2 like Ethereum which cuts transaction fees using the Ethereum Layer 2 method like Arbitrum and Optimism?
2. Does anyone know what Layer 2 on the Solana coin will look like in the future? Maybe when the Solana coin reaches a price of more than 2,000 dollars.
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Yes chances and dynamics of the network has it that it's actually possible they could implement it later on. However it would depend on a majority of important factors. Yes solana fees may be high when relatively compared to some other networks like the bitcoin network if you ask me. But still it's not enough for them to take the move soon enough for implementing a layer 2 upgrade.
The question is although fees are high, is the network begining to get congested with transactions faster than they are actually validating? If you are familiar with the bitcoin network you will recall that fees were not the major issue when the layer 2 was implemented, congestion rather was.
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I spontaneously created this topic because I remembered my previous post (https://www.altcoinstalks.com/index.php?topic=317380.msg1674567#msg1674567) with KryptoBull , so I was inspired to create a topic about Will Solana Launch Layer 2 Someday?
We can see that the Solana coin is getting more and more communities, the price of Solana is increasing, this will likely make the transaction fee on the Solana coin expensive too. Not to mention the system of the Solana coin is PoH or Proof of History which if the transaction is carried out massively it will definitely go out and has been proven several times.
1. If the blockchain process goes out like this continues, will the Solana coin community later launch Layer 2 like Ethereum which cuts transaction fees using the Ethereum Layer 2 method like Arbitrum and Optimism?
2. Does anyone know what Layer 2 on the Solana coin will look like in the future? Maybe when the Solana coin reaches a price of more than 2,000 dollars.
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First, thank @erus for replying to my topic and inviting me to visit this interesting topic.
As far as I know, we already have a few L2 solutions for Sol, such as Nitro, ZX, and Sonic. However, they don't seem to be very popular because they don't really solve the problems of Sol's instability. Sol is not limited by speed, 65k tps is enough to serve user needs, so users have no reason to experience L2.
Another direction for L2 or L3 is to focus on the application of blockchain to have a more suitable platform for specific use cases such as targeting GameFi or RWA. If the Sol ecosystem becomes very large in the future, many companies will need to create their own L2 when entering the blockchain space, for example Sony has Soneium and Kraken has Ink on Eth.
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Yes chances and dynamics of the network has it that it's actually possible they could implement it later on. However it would depend on a majority of important factors. Yes solana fees may be high when relatively compared to some other networks like the bitcoin network if you ask me. But still it's not enough for them to take the move soon enough for implementing a layer 2 upgrade.
The question is although fees are high, is the network begining to get congested with transactions faster than they are actually validating? If you are familiar with the bitcoin network you will recall that fees were not the major issue when the layer 2 was implemented, congestion rather was.
I think that you could express a best opinion in your valuable post. So i am also agree with your opinion. If we follow in cryptocurrency market, we can see that solana is a very preferable currency in cryptocurrency world. But if we follow in a few month ago, we can see that solana price could be very down in this time. But if we follow in cryptocurrency market to this moment. I think that gradually it’s price will increase rapidly. Because we can see that bitcoin price is already near in $100k. So i believe that day by day solana price also increase best level in future.
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Changes, upgrades, developments are constant things on cryptocurrency projects and this includes crypto assets like Solana. Solana has witnessed unprecedented growth in recent times, however, anything can happen on the crypto economy, and i think that layer 2 is possible. Solana current momentum may continue to affect transactions fees which is on the high side, and the network which has been experiencing congestions requires upgrades to accommodate more activities.
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~snip~
The question is although fees are high, is the network begining to get congested with transactions faster than they are actually validating? If you are familiar with the bitcoin network you will recall that fees were not the major issue when the layer 2 was implemented, congestion rather was.
That means the Proof of History system basically always produces a congested output if the network is congested and the result is still the same if there is a Solana Layer2 it will still be congested, do you think that's the case?
I spontaneously created this topic because I remembered my previous post (https://www.altcoinstalks.com/index.php?topic=317380.msg1674567#msg1674567) with KryptoBull , so I was inspired to create a topic about Will Solana Launch Layer 2 Someday?
We can see that the Solana coin is getting more and more communities, the price of Solana is increasing, this will likely make the transaction fee on the Solana coin expensive too. Not to mention the system of the Solana coin is PoH or Proof of History which if the transaction is carried out massively it will definitely go out and has been proven several times.
1. If the blockchain process goes out like this continues, will the Solana coin community later launch Layer 2 like Ethereum which cuts transaction fees using the Ethereum Layer 2 method like Arbitrum and Optimism?
2. Does anyone know what Layer 2 on the Solana coin will look like in the future? Maybe when the Solana coin reaches a price of more than 2,000 dollars.
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First, thank @erus for replying to my topic and inviting me to visit this interesting topic.
My pleaure mate.
As far as I know, we already have a few L2 solutions for Sol, such as Nitro, ZX, and Sonic. However, they don't seem to be very popular because they don't really solve the problems of Sol's instability. Sol is not limited by speed, 65k tps is enough to serve user needs, so users have no reason to experience L2.
~snip~
Nitro, ZX and Sonic are they really Layer2 of Solana? This is the first time I have heard of Nitro, ZX and Sonic projects. Can you provide a reference for the main website of Nitro, ZX and Sonic projects?
~snip~
Solana current momentum may continue to affect transactions fees which is on the high side, and the network which has been experiencing congestions requires upgrades to accommodate more activities.
Is the current Solana coin sending fee when the price is 222 dollars the same as the Ethereum fee back when the price was 222 dollars?
If it is true that Solana's transaction fee is the same as Ethereum's, then I can guess personally that when the Solana coin price reaches 2,000 dollars and above, it will definitely also require a high transaction fee and require Layer 2 to cut transaction costs.
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That means the Proof of History system basically always produces a congested output if the network is congested and the result is still the same if there is a Solana Layer2 it will still be congested, do you think that's the case?
re Layer 2 to cut transaction costs.
Well the aim of implementing forks like this is to fix congestion or stop it however practically you end up reducing it very much rather than actually stopping it. This is basically true for a progressive network of course because definitely as adoption rates go up then so does the chances of having congestions go up too at intervals.
Like I said every crypto currency has a threshold to the number of waiting transactions it can manage before congestion becomes a problem to be tackled and by implementing a protocol like later two upgrades you are like literally lifting that threshold and also improving efficiency too.
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That means the Proof of History system basically always produces a congested output if the network is congested and the result is still the same if there is a Solana Layer2 it will still be congested, do you think that's the case?
re Layer 2 to cut transaction costs.
~snip~
Like I said every crypto currency has a threshold to the number of waiting transactions it can manage before congestion becomes a problem to be tackled and by implementing a protocol like later two upgrades you are like literally lifting that threshold and also improving efficiency too.
Same thought as you, I think Solana might in the coming year also be able to create Solana Layer 2. Or maybe not from Solana but from Solana coin supporters.
As far as I know, Arbitrum, Optimism or whatever it is that has the theme of Ethereum Layer 2, all of them also do not include Vitalik Butering in their core team, maybe later when Solana Layer 2 is present, Anatoly Yakovenko will also not be included in the core team of the Solana Layer 2 project.
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I have used solana a bit, and it's fees are manageable, compareable to Ethereum layer 2s, so I would say there is no need of layer 2s for Solana as of yet.
But yeah, as solana grows in price and userbase it's fees might get higher and requirement for solana's layer 2 may arise and since necessity is mother of all discoveries and inventions we'll see rest happen.
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I'm just curious about this. Doesn't SOL already make it easier to transact with its low fees? I can't imagine needing an L2 for it unless there are other reasons than transaction fees. This is the first time I have heard of it that's why I'm quite surprised with this.
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Is the current Solana coin sending fee when the price is 222 dollars the same as the Ethereum fee back when the price was 222 dollars?
If it is true that Solana's transaction fee is the same as Ethereum's, then I can guess personally that when the Solana coin price reaches 2,000 dollars and above, it will definitely also require a high transaction fee and require Layer 2 to cut transaction costs.
Price has nothing to do with fees!
Bitcoin is at 100k and you can send a tx with less than $1, meanwhile, while it spiked 7 years ago to 20k transactions were close to $40.
It's usage that matters, if people start hoarding eth and Solana and the tokens on it lose fomo then the fees will go down, if some hype happens on chain from stuff like meme coins you can have the coin keeping the same value while fees going x50 up!
Yes solana fees may be high when relatively compared to some other networks like the bitcoin network if you ask me.
Sorry, what????
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I'm just curious about this. Doesn't SOL already make it easier to transact with its low fees? I can't imagine needing an L2 for it unless there are other reasons than transaction fees. This is the first time I have heard of it that's why I'm quite surprised with this.
Right? It doesn't make sense to have another layer because Solana became popular being the better alternative for devs to launch Daps/Dexs and for smart contract users. I guess people would take this more seriously if SOL hits more than $1k each and transaction fees becomes $1+ (from less than 10 cents)
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(https://i.imgur.com/VInQmJn.png)
I spontaneously created this topic because I remembered my previous post (https://www.altcoinstalks.com/index.php?topic=317380.msg1674567#msg1674567) with KryptoBull , so I was inspired to create a topic about Will Solana Launch Layer 2 Someday?
This makes no sense.
L2 solutions are important to scale. Solana main chain is already scalable, and transactions are fast and cheap.
Ethereum and bitcoin L2 solutions are welcome, but I don't see much future in SOL L2 solutions.
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I guess people would take this more seriously if SOL hits more than $1k each and transaction fees becomes $1+ (from less than 10 cents)
On the other hand, I can see other communities will meme that to death considering that scalability and faster transactions are what Solana proposed before. If your competitive features need saving from Lan 2 solution that would mean your project fails to solve the problem in the first place. Will people really get hyped if you'll need L3, L4 or whatever scalability solution after that?
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Layer 2 solutions are either due to the problem of high fees or to increase the network capacity, so if Solana fees are high or the network capacity to process transactions is limited, this means that the blockchain has failed to fulfill its basic promise. In short, unless Layer 2 is for applications such as gaming, this will be a negative indicator for Solana.
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This makes no sense.
L2 solutions are important to scale. Solana main chain is already scalable, and transactions are fast and cheap.
Ethereum and bitcoin L2 solutions are welcome, but I don't see much future in SOL L2 solutions.
Yeah, Solana is faster than even Ethereum Layer-2s, so maybe we don't need Solana Layer-2s right now. Stability should be prioritized over network scaling!
However, looking at other ecosystems, for example, Ton has a speed of 100k tps and Cardano Layer-2 Hydra has a speed of 1M tps, we can predict an explosion of many Layer-2s on Solana if Solana continues to exist and becomes more popular in the crypto market. This could be a new narrative for us in the next few cycles ^^
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1. If the blockchain process goes out like this continues, will the Solana coin community later launch Layer 2 like Ethereum which cuts transaction fees using the Ethereum Layer 2 method like Arbitrum and Optimism?
2. Does anyone know what Layer 2 on the Solana coin will look like in the future? Maybe when the Solana coin reaches a price of more than 2,000 dollars.
If Solana should launch a layer 2 solution then that means Solana is broken and it doesn't fulfill the purpose of been a layer 1 blockchain to process thousands of transactions it was reported during the testnet before the mainet. I'm not sure that Solana will ever have layer 2 because it's fast already and highly scalable, the only challenge is the cost of running the nodes, it's not cheap because th hardware are costly.
Remember that Solana isn't even in it mainnet yet, it was reported to be in Beta net. Perhaps more upgrade will come later in the future.
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Is the current Solana coin sending fee when the price is 222 dollars the same as the Ethereum fee back when the price was 222 dollars?
If it is true that Solana's transaction fee is the same as Ethereum's, then I can guess personally that when the Solana coin price reaches 2,000 dollars and above, it will definitely also require a high transaction fee and require Layer 2 to cut transaction costs.
Price has nothing to do with fees!
Bitcoin is at 100k and you can send a tx with less than $1, meanwhile, while it spiked 7 years ago to 20k transactions were close to $40.
It's usage that matters, if people start hoarding eth and Solana and the tokens on it lose fomo then the fees will go down, if some hype happens on chain from stuff like meme coins you can have the coin keeping the same value while fees going x50 up!
~snip~
That means, if Solana is widely used by all communities so that the transactions are dense, then the fee will likely increase, right?
Whereas if Solana is not widely used, the transaction fee will be cheap, even though the price of a Solana coin is around 2,000 dollars per coin?
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That means, if Solana is widely used by all communities so that the transactions are dense, then the fee will likely increase, right?
Whereas if Solana is not widely used, the transaction fee will be cheap, even though the price of a Solana coin is around 2,000 dollars per coin?
As is the case with other networks, and of course when the network is very dense, the cost will be more expensive and the transactions made will take a long time to be confirmed.
Solana transaction fees are greatly affected by the level of network usage as well as High transaction density leads to increased costs.
while low usage tends to maintain low costs.
The price of the Solana coin and transaction fees are two different things.
(https://www.talkimg.com/images/2025/03/14/0JTP3.png)
https://solscan.io/analysis/fee_tracker
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If compared to Ethereum which already has Layer2, it means that Solana also cannot be completely equated with Ethereum.
Ethereum is already expensive and has very expensive fees too, that's why the Ethereum community created Layer2 to reduce transaction fees.
For the Solana coin, I'm not sure the community created Layer2 because the Solana coin transaction fee is still cheap and affordable.
It is also possible that if one day the Solana coin transaction fee reaches 3 dollars, then I'm sure the community will also create Layer2 for the Solana coin.
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If compared to Ethereum which already has Layer2, it means that Solana also cannot be completely equated with Ethereum.
Ethereum is already expensive and has very expensive fees too, that's why the Ethereum community created Layer2 to reduce transaction fees.
For the Solana coin, I'm not sure the community created Layer2 because the Solana coin transaction fee is still cheap and affordable.
It is also possible that if one day the Solana coin transaction fee reaches 3 dollars, then I'm sure the community will also create Layer2 for the Solana coin.
If Solana transaction fees hit 3 dollars, that would probably mean Solana's gone totally mainstream, serving the needs of tens of millions of regular folks. Right now, my crystal ball is a little foggy on exactly what could bring about that kind of success for Solana.
We've seen a few Layer-2 projects pop up for Solana, but I'm still waiting to be wowed. Seems like Solana's already zippy and cheap enough for most people's needs. The Solana squad has even pointed out some of the downsides of Layer-2s on Ethereum, which is why Solana hasn't exactly been rushing to build its own.