Kenny Li, co-founder of Manta Pacific, said that from the blockchain network Ethereum Of the 44 Layer 2 networks that exist today, “only a few” will still be around in five years.
followinformationAccording to L2Beat, there are currently 44 active Ethereum Layer 2 networks with a Total Value Locked (TVL) of $36.92 billion, with Arbitrum (ARB) coming in at number 1 on TVL at 14.5 billion. dollar
However, Li, COO and co-founder of Manta Pacific, claims that the future is only properly paved for “modular” blockchains like Manta, Celestia, and Cosmos.
Li argued that the influx of new Layer 2s onto the Ethereum network follows the same path as past “forks” of the Bitcoin and Ethereum networks, which currently do not exist. “Survived”
“With all the Bitcoin forks — Bitcoin Cash and BSV — they just took existing technology and forked it,” Li explained. “They always said: ‘You know what? We will make these small changes, and with these small changes, we will create something that is ‘better than Bitcoin’.”
“By 2024, there will only be Bitcoin left. There is no other Bitcoin fork community that can compare to the original Bitcoin.”
Li adds that the same thing happened with Ethereum in 2016, when new networks like EOS and NEO tried to position themselves as “Ethereum killers” by offering alternative EVM and VM environments.
In Li’s view, the main problem with all the Bitcoin and Ethereum “forks” is that they were all built without integration to bring new technology. “So what happens to them in the end, right? In 2024, Ethereum is still the dominant player.”
“Are we going to see a lot of L2 in the next five years or so? I don’t think so. But only a few will survive.”
Li claims that Manta, which launched on January 18, can be described as the “first and largest” layer 2 modular network on Ethereum because it uses Optimism’s OP stack and uses Celestia for data availability (although Vitalik Buterin Ethereum co-founder willSaid to be “validium” Not genuine L2)
Manta is currently the 4th largest Layer 2 network in terms of TVL, recently surpassed by the new Layer 2 Blast, which launched mainnet on March 1st.
refer : cointelegraph.com
picture cryptosa.org
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