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L1s which prioritize immediate scaling over decentralization is a bad take, but many users want this for reasons related to scalability, compromising decentralization.
A layer-1 blockchain is a set of solutions that improve the base protocol itself to make the overall system a lot more scalable. There are two most common layer-1 solutions, and these are the consensus protocol changes as well as sharding.
Bitcoin, Litecoin, and Ethereum, for example, are Layer-1 blockchain. Layer 1 in a decentralized ecosystem is the blockchain. Also, Polkadot, Cosmos, Binance Smart Chain, Band Protocol, Solana, and Nervous Network are Layer-1 blockchains.
In the DeFi ecosystems, Layer 1 solutions are the basic and foundational working parts of the network. Layer 2 blockchain solutions are functional components of the blockchain that can be stacked on top of the foundation that Layer 1 provides.
Pointing to L1s prioritizing scalability versus decentralization, Hayden Z Adams, inventor of Uniswap Protocol feels that it is incredibly insulting to everyone working on ETH 2.0 and L2s especially from someone who has gained extraordinary wealth off the backs of Ethereum builders.
Zhu Su, CEO/CIO at 3ac expressed: I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users despite supporting them in the past. The idea of sitting around jerking off watching the burn and concocting purity tests, while zero newcomers can afford the chain, is gross.
Ethereum culture suffers massively from the Founders Dilemma. Everyone is already far too rich to remember what they originally set out to do. Perhaps a bear market is needed to remind them, or perhaps we must build elsewhere, but this is what it is–nothing new under the sun.
Reason why previous tweets has 4k likes in 1hr is because users are livid that they’re promised a vision of the future, then told that they have to pay $100-1k per transaction to enjoy it, and then get told some tales about how they should’ve been smart enough to buy ETH at $10.
Community reaction: Abandoning decentralization is the biggest sin that you can commit in this space. It’s easier to fix fees than it is to fix centralization.
They deployed a few billion dollars into a lower cap L1 that will give a larger return and then built their own narrative. Dropping little hints everywhere and influencing other people with large followings along to furthermore build what turns into a community around them
