You're early, there's no Apple or Microsoft yet. But it all kind of makes sense to me. Give it a year and one will be dominant unless they manage to offer very different proposals. As soon as the ux part gets better I think L1 wars is pretty much over but we'll see, have some solana just in case they're slow.
Your everyday life is using layer 2s
You own a credit card? Debit card? Using an ATM? Checks?
Those are all layer 2 solutions because banks and credit unions take days upon days to shift money on layer 1
Layer 1s are settlement layers. Ethereum is built for definitive, trustless, settlement.
All ethereum layer 2’s will be able to bridge all assets seamlessly soon. Zk tech is robust.
Have fun with less security and laggy layer 1’s built on only Amazon web services.
What century will “soon” be occurring in? It’s honestly hilarious to see how ubselfaware the vast majority of crypto people are. This stuff has been coming soonTM for like a decade now.
Well for one I’m excited about polygon and their agglayer and their 2.0 transition.
I also own little bags in solana and avalanche.
I like how avalanche is evm compatible.
My guy all these blockchains will succeed, there is no need for maximalism.
Some layer 2’s will dry out a bit imo but overall they are useful.
For L1s and L2s connected to AggLayer: Maintain full sovereignty but also get to tap into a huge pool of unified liquidity, making it easy to bootstrap liquidity.
For dApp developers: Reach users in aggregate. Even if your dApp is on a different chain, users from other chains will be able to interact with it, without cumbersome bridging UX. Seamless cross-chain transactions mean true growth and access to users of the aggregated network.
For end users: UX that is like the Internet. A single environment that doesn’t require cumbersome and frequent bridging.
The end result would be cross chain swap finality in under a second.
And lastly polygon 2.0 tokenomics is just introducing no cap to supply with a 1% inflation rate to not run the risk of stagnation among other factors. Nothing crazy like dodgecoin inflation or US dollar inflation lol
Also better governance will be introduced.
I’m sure I’m missing more but this is what stood out to me. Basically POL is meant to be used and not hoarded like I do for BTC because its use case is vastly different.
You can say the same about eth and solana as they don’t have a cap but we must always be aware of their respective inflation rate percentage.
Cosmos IBC bridge is so seamless. Every token can be bridged across chain using the built-in bridge without any slippage.
It's a shame that most people here never tried using cosmos chain. Which is why they are still worshipping DOT, it's direct competitor that no one uses.
Have you ever used the terminal/command prompt on your computer? Think of the difference in user experience between that and a good graphical app. Most crypto UX is at the terminal stage. We need to build good abstractions that keep the power of non-custodial wallets while automatically handling most of the details.
Another way to think of it is websites today. We have some friction when moving between websites, but usually less than moving between chains. It wouldn't be sensible to have just one website that did everything though, even though in theory it'd be possible.
It's the beginning, I'm not saying I know what will happen but everyone is trying to cut their part of the market. Once dominance is established I imagine we will see some come out of the ashes.
I'm old enough to remember when AOL was a fully self contained system, but had a very limited browser for you to access some outside websites. I also remember the competition for instant messaging platforms which were all self contained ecosystems.
This fragmentation drove two things. One, programs which unified the ecosystems into one platform for ease of use. But more importantly, the rise of singular platforms like Twitter and Facebook, with other services piggybacking around them.
I suspect something similar will happen. Either singular *(or few)* L2 will emerge, or Ethereum will scale or incorporate L2 features into the main chain. But one things for sure, the market will drive the decision, so rest assured innovation will solve major pain points.
There was a period of time with dialup the best thing to do was free aol trial CDs with 500-4000 hrs and the first thing you'd do was minimize aol and open Netscape or some shit. Aol for the Internet, and not for aol.
We arrived mad early bro. It's going to take some time for everything to get built out with proper real work use cases etc. Not saying layer 2s (or ETH) are the answer but this is just getting started.
Its easier than when you arrive at an airport in a foriegn nation and have to convert your cash to their cash. Do you know how an international ATM works? Or a domestic atm? Yeah I dont either but im still able to get money from them and put money into them.
You aren’t thinking about it from a technical POV. You are thinking about all this like a newbie who expects innovations to not happen. ETH has plenty of devs to make the UX seamless when using an L2 to the point where people won’t even know they are using an L2, we are just early in the game, so it’s expected for things to be a little rough on the edges
bro you make it seem like its rocket science, i moved l1 > l2 thorough a bridge, but i can still send that crypto directly to binance without having to move back, i also can just buy on binance and send directly to l2 and its far cheaper than l1
it will be better if its all built in to the wallets
on cosmos i do a swap but in the background it might bridge to osmosis, swap to another coin, then bridge to another chain. but the user doesnt really see all of that, you just make a swap by pressing the button on keplr wallet
i read that uniswap v4 will do something similar, with cross chain swaps
Yes. Be sure to have matic for gas. But for long term storage, I wouldn't do that as polygon is supposedly fairly centralized.
I suggested this only to avoid gas fees i defi. If you're cold storing, then who cares about fees.
Get Rabby wallet ( https://rabby.io/ ). The UI for Metamask, LedgerLive, and Trezor Suite is terrible which is part of the problem. Honestly Rabby is a great wallet even if you are just using Ethereum. I could never go back to metamask or ledger live.
Rabby shows all your tokens across all L2s. Honestly it really isn't any harder than just using Ethereum exclusively. Most dapps are available across multiple L2s.
Seriously just try it. Get Rabby (it supports all major hardware wallets). You have the same address on L2 as you do on L1 (Ethereum). Gas is ETH on L2 just like on Ethereum. For most exchanges now when withdrawing ETH you need to select the network instead of selecting Ethereum select Arbitrum.
Try it as an experiment. Buy $30 worth of eth on an exchange withdraw it to Arbitrum instead of Ethereum. Honestly despite all this gnashing of teeth it works exactly the same except fees are 99% cheaper.
>I would get it if it was just one leading layer 2
We do have one leading L2 it is Arbitrum On (commonly just called Arbitrum). By TVL it is about 45% of the L2 marketshare. The top 5 are about 80% combined.
Its gonna stay alive in some shape for some time.
Modern L1s will take over most of the things in following years.
Also most things will work in a way you wont even know that you on chain.
This will all change when CCIP is released. Just like DEFI summer (started by chainlink) this year will be cross chain summer (also chainlink).
This is what will be possible with CCIP. (every L2 has already integrated CCIP)
[https://xswap.link/](https://xswap.link/)
L2 will never be the winners. It's going to be the L1's that have all the value. Avax just released teleporter so now devs can seamlessly connect all the subnets together on their dapps for a seamless user experience
That’s for the user to decide though, it will flow where it’s the cheapest.
Also avax created teleporter for one main reason. So they could run chainlink services on a subnet so they could properly integrate CCIP.
With the L2 that *Bitcoin* innovated. It's not an ETH invention. Its followers were deriding any use of L2 a few years ago.
Sidechains are an additional solution.
You're early, there's no Apple or Microsoft yet. But it all kind of makes sense to me. Give it a year and one will be dominant unless they manage to offer very different proposals. As soon as the ux part gets better I think L1 wars is pretty much over but we'll see, have some solana just in case they're slow.
Your everyday life is using layer 2s You own a credit card? Debit card? Using an ATM? Checks? Those are all layer 2 solutions because banks and credit unions take days upon days to shift money on layer 1 Layer 1s are settlement layers. Ethereum is built for definitive, trustless, settlement.
All ethereum layer 2’s will be able to bridge all assets seamlessly soon. Zk tech is robust. Have fun with less security and laggy layer 1’s built on only Amazon web services.
‘Soon’ is doing a lot of work in this sentence
How soon are you impacted by liquidity fragmentation Mr. Shrimp?
Soon is not an answer. I could say the same about L1s being secure soon. Also, L2s add more risk as they add more attacking surface.
"less security" Sure, you can make some argument that other L1s are less secure than Eth itself, but L2s are just aws servers with a 5 way multi Sig.
cope harder
👆
👆
What century will “soon” be occurring in? It’s honestly hilarious to see how ubselfaware the vast majority of crypto people are. This stuff has been coming soonTM for like a decade now.
Well for one I’m excited about polygon and their agglayer and their 2.0 transition. I also own little bags in solana and avalanche. I like how avalanche is evm compatible. My guy all these blockchains will succeed, there is no need for maximalism. Some layer 2’s will dry out a bit imo but overall they are useful.
For our benefit, would you explain why you are excited about polygon and their agglayer and their 2.0 transition?
For L1s and L2s connected to AggLayer: Maintain full sovereignty but also get to tap into a huge pool of unified liquidity, making it easy to bootstrap liquidity. For dApp developers: Reach users in aggregate. Even if your dApp is on a different chain, users from other chains will be able to interact with it, without cumbersome bridging UX. Seamless cross-chain transactions mean true growth and access to users of the aggregated network. For end users: UX that is like the Internet. A single environment that doesn’t require cumbersome and frequent bridging. The end result would be cross chain swap finality in under a second. And lastly polygon 2.0 tokenomics is just introducing no cap to supply with a 1% inflation rate to not run the risk of stagnation among other factors. Nothing crazy like dodgecoin inflation or US dollar inflation lol Also better governance will be introduced. I’m sure I’m missing more but this is what stood out to me. Basically POL is meant to be used and not hoarded like I do for BTC because its use case is vastly different. You can say the same about eth and solana as they don’t have a cap but we must always be aware of their respective inflation rate percentage.
Honestly the future is interchain, the way the cosmos network has built everything seems to be the way everything is heading.
Cosmos IBC bridge is so seamless. Every token can be bridged across chain using the built-in bridge without any slippage. It's a shame that most people here never tried using cosmos chain. Which is why they are still worshipping DOT, it's direct competitor that no one uses.
Have you ever used the terminal/command prompt on your computer? Think of the difference in user experience between that and a good graphical app. Most crypto UX is at the terminal stage. We need to build good abstractions that keep the power of non-custodial wallets while automatically handling most of the details. Another way to think of it is websites today. We have some friction when moving between websites, but usually less than moving between chains. It wouldn't be sensible to have just one website that did everything though, even though in theory it'd be possible.
Just out of curiosity, what do you think about the upcoming launch of Etherlink Tezos?
It's the beginning, I'm not saying I know what will happen but everyone is trying to cut their part of the market. Once dominance is established I imagine we will see some come out of the ashes.
I'm old enough to remember when AOL was a fully self contained system, but had a very limited browser for you to access some outside websites. I also remember the competition for instant messaging platforms which were all self contained ecosystems. This fragmentation drove two things. One, programs which unified the ecosystems into one platform for ease of use. But more importantly, the rise of singular platforms like Twitter and Facebook, with other services piggybacking around them. I suspect something similar will happen. Either singular *(or few)* L2 will emerge, or Ethereum will scale or incorporate L2 features into the main chain. But one things for sure, the market will drive the decision, so rest assured innovation will solve major pain points.
There was a period of time with dialup the best thing to do was free aol trial CDs with 500-4000 hrs and the first thing you'd do was minimize aol and open Netscape or some shit. Aol for the Internet, and not for aol.
We arrived mad early bro. It's going to take some time for everything to get built out with proper real work use cases etc. Not saying layer 2s (or ETH) are the answer but this is just getting started.
Its easier than when you arrive at an airport in a foriegn nation and have to convert your cash to their cash. Do you know how an international ATM works? Or a domestic atm? Yeah I dont either but im still able to get money from them and put money into them.
The amount of poor Solano bagholders convincing themselfs that they would in any Form be impacted by liquidity fragmentation is hilarious.
You aren’t thinking about it from a technical POV. You are thinking about all this like a newbie who expects innovations to not happen. ETH has plenty of devs to make the UX seamless when using an L2 to the point where people won’t even know they are using an L2, we are just early in the game, so it’s expected for things to be a little rough on the edges
bro you make it seem like its rocket science, i moved l1 > l2 thorough a bridge, but i can still send that crypto directly to binance without having to move back, i also can just buy on binance and send directly to l2 and its far cheaper than l1
imagine a normie using a bridge....bro
they don't have to anymore, they can send directly from binance or coinbase to arbitrum or base and enjoy low fees.
it will be better if its all built in to the wallets on cosmos i do a swap but in the background it might bridge to osmosis, swap to another coin, then bridge to another chain. but the user doesnt really see all of that, you just make a swap by pressing the button on keplr wallet i read that uniswap v4 will do something similar, with cross chain swaps
Thats what loopring is doing multichain wallet
Problem unclear. Transfered all eth to polygon many years ago for my defi activities and still dont understand what fees are you talking about.
But can you transfer that eth on polygon to cold storage?
Yes. Be sure to have matic for gas. But for long term storage, I wouldn't do that as polygon is supposedly fairly centralized. I suggested this only to avoid gas fees i defi. If you're cold storing, then who cares about fees.
Get Rabby wallet ( https://rabby.io/ ). The UI for Metamask, LedgerLive, and Trezor Suite is terrible which is part of the problem. Honestly Rabby is a great wallet even if you are just using Ethereum. I could never go back to metamask or ledger live.
Rabby shows all your tokens across all L2s. Honestly it really isn't any harder than just using Ethereum exclusively. Most dapps are available across multiple L2s.
Seriously just try it. Get Rabby (it supports all major hardware wallets). You have the same address on L2 as you do on L1 (Ethereum). Gas is ETH on L2 just like on Ethereum. For most exchanges now when withdrawing ETH you need to select the network instead of selecting Ethereum select Arbitrum.
Try it as an experiment. Buy $30 worth of eth on an exchange withdraw it to Arbitrum instead of Ethereum. Honestly despite all this gnashing of teeth it works exactly the same except fees are 99% cheaper.
>I would get it if it was just one leading layer 2
We do have one leading L2 it is Arbitrum On (commonly just called Arbitrum). By TVL it is about 45% of the L2 marketshare. The top 5 are about 80% combined.
Its gonna stay alive in some shape for some time. Modern L1s will take over most of the things in following years. Also most things will work in a way you wont even know that you on chain.
This will all change when CCIP is released. Just like DEFI summer (started by chainlink) this year will be cross chain summer (also chainlink). This is what will be possible with CCIP. (every L2 has already integrated CCIP) [https://xswap.link/](https://xswap.link/)
So you probably don't believe in a multi L1 world too then right?
everything but bitcoin is a scam
L2 will never be the winners. It's going to be the L1's that have all the value. Avax just released teleporter so now devs can seamlessly connect all the subnets together on their dapps for a seamless user experience
That’s for the user to decide though, it will flow where it’s the cheapest. Also avax created teleporter for one main reason. So they could run chainlink services on a subnet so they could properly integrate CCIP.
Inter-ledger protocol.
The future is everything built on Bitcoin. Sell your shitcoins.
Tell me how do you build something on bitcoin?
With the L2 that *Bitcoin* innovated. It's not an ETH invention. Its followers were deriding any use of L2 a few years ago. Sidechains are an additional solution.