Memes

Ethereum is misunderstood.

The price? Meh.

The memes? Misleading.

But beneath the noise is a beast that’s playing an entirely different game.

Let me explain. 🧵👇

Web3 consultant | senior engineer @lazertech | crypto dinosaur 🦖

4/8

Ethereum is building a global settlement layer.

It’s not here to run the flashy apps.

It’s here to secure them. 🔐

3/8

All these arguments have one flawed assumption:

👉 They think Ethereum is competing at the application layer.

Spoiler: it’s not. 🙀

2/8

People love to hate on ETH lately:

	•	Gas is too expensive
	•	L2s are cannibalizing usage
	•	Solana is “better”

But these takes miss the forest for the trees.

Stay Curious // iixii // Head of Crypto at https://www.lazertechnologies.com/  // Prev: CoinDesk, Roc Nation // based @basedevo

mainnet's value is its decentralization and security. If you ask me to hold a crypto asset for 100 years, there is really only one chain I'd be comfortable holding on for that long (besides BTC). 

We also haven't yet experienced a collapse of a major L2 and witnessed a mass exodus of funds back to L1. That is something the foundation has on the back of their minds.

How does mainnet capture value if it doesn’t scale and fees are mainly captured by the sequencers on L2s?