Experts from the projects Scroll, Synthetix, and Infinex have expressed concerns about potential threats that may arise for the future of Ethereum due to the implementation of L2 solutions.
This is reported by Finway
Ye Zhang, co-founder of the L2 network Scroll, and Kain Warwick, founder of Synthetix and Infinex, believe that the introduction of fees for L2 solutions could negatively impact the Ethereum ecosystem. Zhang noted that:
“The introduction of fees for L2 solutions is one of the most harmful ideas for the future of Ethereum. It trades long-term scalability and ecosystem growth for short-term revenue – a strategy that suits centralized companies, not truly neutral platforms.”
In his view, the true value of Ethereum lies not in transaction fees but in its role as a key asset in thousands of ecosystems based on rollup solutions. Zhang predicted two possible scenarios for the situation:
- Ethereum could become a store of value and the economic center for an ecosystem of 1000 rollups, maintaining its status as the primary asset.
- Alternatively, if Ethereum chooses the path of greed and implements taxes for L2 solutions, it may force projects to use alternative data storage solutions, leading to a loss of relevance and failure.
Zhang emphasized that the project should not aim to maximize profits but should encourage development.
Kain Warwick also raised the issue of Ethereum’s margin, noting that the asset is losing profitability due to the development of L2 solutions. He explained that the asset’s previous dominance in blocks allowed for a high level of Ethereum burning, but the situation has changed.
“The only way out is to restore demand for L1 blockchains. Various solutions are being proposed, including the creation of official L2 solutions that would transfer excess fees to burn Ethereum, or the introduction of some form of ‘rental fee.’”
Warwick believes that Ethereum is capable of addressing such coordination problems, and there is currently hope for a growing trend in asset tokenization, which could increase demand for the blockchain and resolve the issue of low margins.
Previous research by Matrixport also noted a trend of decreasing activity in the Ethereum ecosystem.