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Joe Lubin, a co-founder of Ethereum, has emphasized the pivotal role of layer-2 (L2) scaling solutions in the network's future during his recent appearance at the Digital Asset Summit (DAS). He articulated that Ethereum's robust security and established network provide a solid foundation for developers, allowing them to focus on building on the layer-1, rather than needing to create entirely new blockchains.
Lubin highlighted that L2 networks are crucial for Ethereum's scalability, enabling it to handle a greater volume of transactions and support the development of increasingly complex applications. He spoke about the need for next-generation databases powered by high-throughput blockchain technologies, and that those will be best delivered by new kinds of Layer 2 networks. He pointed out particular L2 solutions, such as Linea, and the emerging MegaETH, as examples of promising developments within the Ethereum ecosystem.
According to L2Beat, Ethereum has over 140 unique scaling solutions, including 60 rollup networks.
He also expressed his belief that Ethereum's strong architecture and security make it difficult for newer layer-1 chains to compete. However, there are also concerns expressed by investors, about the amount of layer 2 solutions, and if they are a benefit, or a drain on the layer 1 network.
The effects of the recent Dencun upgrade were also brought into the light, with the major reduction of gas fees, and the effect that had on layer 1 revenue. Along with that, the current market conditions, and the flow of funds out of ETH ETF's was also noted.