Solana Co-Founder Advocates for L1 Blockchains, Questions Necessity of Layer-2 Solutions

• Solana co-founder Anatoly Yakovenko challenges the necessity of layer-2 solutions, asserting that layer-1 blockchains can deliver optimal scalability.

• His assertion questions the mainstream industry’s reliance on L2 solutions for scalability and emphasizes L1 capabilities.

• Yakovenko highlighted, “L1s can be faster, cheaper, and more secure,” providing a fresh perspective on blockchain performance.

Anatoly Yakovenko advocates for the efficacy of layer-1 blockchains, suggesting they can outperform layer-2 solutions in speed and efficiency.

Why Anatoly Yakovenko favors L1 over L2

Taking to social media platform X, Yakovenko articulated his position by stating, “There is no reason to build an L2.” He elaborated that L1s are not only capable of faster transactions but also cheaper and more secure, without being hindered by the complexities that come with L2 solutions.

His remarks signal a notable skepticism towards layer-2 networks. He pointed out that Solana generates only approximately 80 terabytes of data annually—a relatively manageable figure that contradicts the argument that L1 blockchains suffer from serious storage constraints.

Streamlining Development with L1

Yakovenko’s perspective includes a proposal for developers to bypass the intricacies associated with L2 solutions by simply launching a new token. He believes that a singular, efficient L2 system could serve the ecosystem better than a multitude of L2 options, thereby minimizing redundancy.

Solana co-founder criticizes Ethereum L2

In his critique of Ethereum’s scaling strategy, Yakovenko posits that L2 networks may ultimately detract from Ethereum’s core performance rather than bolster it. He argues that these networks redirect critical transactions away from Ethereum, undermining its foundational integrity.

This viewpoint is supported by observable trends in Ethereum’s transaction revenue, which plummeted by 95% from its peak in late 2021. Yakovenko’s assertions beckon a reexamination of whether L2 solutions genuinely enhance Ethereum’s long-term viability.

Solana vs. Ethereum

Despite any reservations about L2s, Solana’s impressive trajectory across essential blockchain metrics has positioned it as a serious contender to Ethereum’s longstanding supremacy. Data suggests Solana is experiencing increased decentralized exchange (DEX) trading volume, elevating user engagement, and maintaining superior price performance.

Research from crypto analytics firm Delphi Digital indicates that if this momentum continues, Solana could potentially eclipse Ethereum as the leading layer-1 blockchain by 2025.

Market trend

As the scaling debate heats up, Solana has shown a marked increase in market engagement, with SOL rising to $141.95 after a notable 7.25% increase within a 24-hour window. Similarly, Ethereum’s price has seen a lift, reaching $2,094.76, reflecting a 4.06% increase, according to CoinMarketCap.

While the sustainability of Yakovenko’s vision of a landscape dominated by high-performing L1 blockchains remains to be evaluated, his assertive stance unequivocally challenges conventional thinking within the cryptocurrency ecosystem.

Conclusion

The ongoing discussions surrounding the merits of L1 versus L2 solutions highlight a significant schism within the blockchain community. Yakovenko’s insights prompt a reevaluation of blockchain scalability paradigms, perhaps paving the way for a new phase in the evolution of blockchain technology.