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Home Ethereum

EigenLayer Founder Reiterates Support For Ethereum, Why Is ETH Struggling?

September 30, 2024
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EigenLayer Founder Reiterates Support For Ethereum, Why Is ETH Struggling?
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Este artículo también está disponible en español.

Despite scalability and high gas fees facing Ethereum, the founder of EigenLayer, a liquidity restaking platform, insists the network is superior, especially against Solana. Solana is the third most valuable smart contracts platform, trailing Ethereum and the BNB Chain. Over the years since launching, it has been gulping up more market share from Ethereum, cementing its position.

Is Ethereum Superior To Solana?

While the prominence of Solana is evident, Sreeram Kannan, the founder of EigenLayer, argued in a post on X that Solana prioritizes low latency and global node synchronization over other core features.

Related Reading

On the other hand, Ethereum took a different approach, emphasizing the need for stability and decentralization. Accordingly, in Kannan’s view, the first smart contracts platform offers a more comprehensive solution than its competitor. Currently, EigenLayer manages over $12 billion worth of assets on Ethereum, according to DeFiLlama.

EigenLayer TVL | Source: DeFiLlama
EigenLayer TVL | Source: DeFiLlama

Although Kannan acknowledges the efficiency of Solana, the founder nonetheless picks out some limitations now that the platform is building a global state machine. At the top of the list is the blockchain’s sacrifice of programmability and verifiability.  

Meanwhile, the EigenLayer lead thinks Ethereum is excelling, especially on performance, thanks in part to the success of rollups and the resulting wild adoption. This off-chain solution provides instant confirmation and is more performant than web2 applications.

At the same time, Ethereum is programmable, enabling EigenLayer to add more features like an arbitrary decentralization of verifiable tasks. As a result, the liquidity restaking platform, Kannan adds, has enabled cloud-scale programmability.

See also  QuarkChain Joins Ethereum Layer 2 Ahead Of Cancun Upgrade, Enhances Speed With zk Fraud Proof And Parallel EVM

Layer-2 Platforms Thriving: Why Is ETH Struggling?

The co-founder of Celestia, Mustafa Al-Bassam, also appreciates what Ethereum brings to the table and is absent or underdeveloped in other networks. In a post on X, Al-Bassam said the first smart contracts platform is “underrated.”

Related Reading

Specifically, the co-founder lauded the thriving rollup ecosystem in Ethereum, saying it is “by far the largest and most successful.” As of September 30, L2Beat data shows that the layer-2 ecosystem in Ethereum manages over $38 billion, with Arbitrum and Base among the largest platforms.

Ethereum layer-2 TVL | Source: L2Beat
Ethereum layer-2 TVL | Source: L2Beat

Even as Base and other Ethereum layer-2 platforms draw activity, ETH, the native currency, is struggling for momentum. The daily chart shows bulls have yet to break above $2,800, although support remains at $2,400.

Ethereum price trending sideways on the daily chart | Source: ETHUSDT on Binance, TradingView
Ethereum price trending sideways on the daily chart | Source: ETHUSDT on Binance, TradingView

Dwindling upside momentum has been partly blamed on the proliferation of layer-2 scaling solutions. The network becomes inflationary as more activity is re-routed off-chain, and enhancements like Dencun are activated to make layer-2 transactions even cheaper. Looking at Ultra Sound Money, fewer ETH are not being torched.

Feature image from DALLE, chart from TradingView

READ ALSO

Ethereum Looks Ready To Break Out Of 4-Year Consolidation, Analyst Says Price Will ‘Go Insane’

Binance loses 300K ETH – Here’s what it means for bulls eyeing $2.7K

Este artículo también está disponible en español.

Despite scalability and high gas fees facing Ethereum, the founder of EigenLayer, a liquidity restaking platform, insists the network is superior, especially against Solana. Solana is the third most valuable smart contracts platform, trailing Ethereum and the BNB Chain. Over the years since launching, it has been gulping up more market share from Ethereum, cementing its position.

See also  Spot Ethereum ETFs Expected To Begin Trading On July 2, Can This Propel ETH To $10,000?

Is Ethereum Superior To Solana?

While the prominence of Solana is evident, Sreeram Kannan, the founder of EigenLayer, argued in a post on X that Solana prioritizes low latency and global node synchronization over other core features.

Related Reading

On the other hand, Ethereum took a different approach, emphasizing the need for stability and decentralization. Accordingly, in Kannan’s view, the first smart contracts platform offers a more comprehensive solution than its competitor. Currently, EigenLayer manages over $12 billion worth of assets on Ethereum, according to DeFiLlama.

EigenLayer TVL | Source: DeFiLlama
EigenLayer TVL | Source: DeFiLlama

Although Kannan acknowledges the efficiency of Solana, the founder nonetheless picks out some limitations now that the platform is building a global state machine. At the top of the list is the blockchain’s sacrifice of programmability and verifiability.  

Meanwhile, the EigenLayer lead thinks Ethereum is excelling, especially on performance, thanks in part to the success of rollups and the resulting wild adoption. This off-chain solution provides instant confirmation and is more performant than web2 applications.

At the same time, Ethereum is programmable, enabling EigenLayer to add more features like an arbitrary decentralization of verifiable tasks. As a result, the liquidity restaking platform, Kannan adds, has enabled cloud-scale programmability.

Layer-2 Platforms Thriving: Why Is ETH Struggling?

The co-founder of Celestia, Mustafa Al-Bassam, also appreciates what Ethereum brings to the table and is absent or underdeveloped in other networks. In a post on X, Al-Bassam said the first smart contracts platform is “underrated.”

Related Reading

Specifically, the co-founder lauded the thriving rollup ecosystem in Ethereum, saying it is “by far the largest and most successful.” As of September 30, L2Beat data shows that the layer-2 ecosystem in Ethereum manages over $38 billion, with Arbitrum and Base among the largest platforms.

See also  Ethereum's Pectra Upgrade: Set to ignite the next crypto rally?
Ethereum layer-2 TVL | Source: L2Beat
Ethereum layer-2 TVL | Source: L2Beat

Even as Base and other Ethereum layer-2 platforms draw activity, ETH, the native currency, is struggling for momentum. The daily chart shows bulls have yet to break above $2,800, although support remains at $2,400.

Ethereum price trending sideways on the daily chart | Source: ETHUSDT on Binance, TradingView
Ethereum price trending sideways on the daily chart | Source: ETHUSDT on Binance, TradingView

Dwindling upside momentum has been partly blamed on the proliferation of layer-2 scaling solutions. The network becomes inflationary as more activity is re-routed off-chain, and enhancements like Dencun are activated to make layer-2 transactions even cheaper. Looking at Ultra Sound Money, fewer ETH are not being torched.

Feature image from DALLE, chart from TradingView

Tags: EigenLayerETHEthereumFounderreiteratesStrugglingsupport

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    Сайт обеспечивает высокую безопасность благодаря новейшим шифровальным технологиям. Доступны многочисленные способы пополнения счета и выводов, включая биткойн и другие криптовалюты.
    А служба поддержки доступна 24/7 и готова поддержать через чат, email или телефон.

    Также сайт предоставляет удобную мобильную версию. Мобильное приложение 1хлотс – это удобный способ получать удовольствие от любимых азартных игр в любое удобное время и в любом удобном месте.
    Интерфейс, адаптированный для мобильных устройств позволяет легко ориентироваться на сайте с мобильного телефона или планшета, обеспечивая оперативный доступ ко всему функционалу: от регистрации и внесения средств до участия в бонусных программах и вывода выигрышей.
    Мобильная версия поддерживает все популярные устройства и гарантирует такой же ассортимент игр, как и на десктопе, обеспечивая ваш опыт игры максимально комфортным и доступным.

    Что такое зеркало? Альтернативный доступ к сайту 1иксслотс – это удобный способ восстановить доступ к любимым играм.
    Используя зеркало, вы получите доступ ко всем функциям, включая создание аккаунта, получение бонусов, пополнение счета и вывод средств. Этот вариант особенно удобен, если основной сайт заблокирован.
    Просто используйте рабочее зеркало и продолжайте игру с тем же качеством обслуживания и разнообразием игровых возможностей.

    Попробуйте 1xСлотс сегодня и погрузитесь в атмосферу игрового азарта с невероятными бонусами и неповторимыми эмоциями.
    1xSlots – отличное место для безопасной и удобной игры в интернете.

    1хСлотс

    Reply
  2. AndreyCuh says:
    8 months ago

    Играть 1xslots
    1xslots официальный сайт играет ключевую роль в плане надежности и безопасности. На официальном портале клиенты могут найти всю важную информацию о казино. Наличие мобильной версии позволяет игрокам доступ ко всем функциями казино на планшетах, что предельно удобно. Кроме того, на официальном сайте можно скачать мобильное приложение для игры.
    1xslots зеркало
    В индустрии интернет-гемблинга роль зеркал трудно игнорировать. 1x slots зеркало способствует клиентам обходить блокировки и получать неограниченно доступ к любимым игровым автоматам и слотам. Зеркало даёт непрерывный доступ, позволяет клиентам наслаждаться игрой.
    Преимущества альтернативных сайтов:
    1. Обход ограничений;
    2. Бесперебойный доступ.

    1xslots регистрация
    Процесс регистрации на сайте 1хслотс быстрый и простой. Игрокам необходимо пройти регистрацию, чтобы зарегистрировать профиль. Процесс заполнения формы занимает не более 5 минут, после регистрации открывается доступ к личному кабинету. Вход в аккаунт позволяет клиентам управлять своими счетами, делать депозиты и снимать деньги.
    Шаги для регистрации и входа:
    1. Заполнить форму регистрации;
    2. Подтверждение учетных данных;
    3. Вход в аккаунт 1xslot;

    Казино и игры
    Казино 1xslots предлагает разнообразие игр, включая игровые слоты. Играть онлайн в казино можно всегда, наслаждаясь разнообразными игровыми автоматами. Игровые приложения позволяют играть в любое время, что удобно для ценящих мобильность и удобство. Внесение депозитов и вывод средств происходит быстро и надежно, что увеличивает комфорт и уверенность в процессе игры.
    Акции и бонусы
    Одним из плюсов игры в 1xslots являются специальные предложения и бонусы. Специальные коды дают дополнительные деньги для ставок, а бонусы делают игру еще более увлекательной. Промокоды и бонусы увеличивают вероятность выигрыша.
    Плюсы использования бонусов и промокодов:
    – Бонусные деньги для игры
    – Бесплатные вращения на автоматах
    – Увеличенные шансы на победу

    Приветственный бонус рассчитан на четыре первых депозита. Общий приветственный бонус включает до 1500 EUR и 150 fs. А промокод «ESDINERO» поможет еще больше расширить пакет.
    Мобильные версия 1xslots
    Для удобства 1xslots предоставляет мобильное приложение. Игровое приложение обеспечивает доступ в любое время и в любом месте, предоставляя доступ ко всем функциям казино. Загрузка приложения занимает несколько минут, но дает возможность насладиться игрой в любое удобное время.
    Итоги
    Зеркала сайта, официальный портал 1xslots, простота регистрации, выбор игр, промоакции и бонусы, мобильное приложение обеспечивают удобство и безопасность для всех игроков 1xslots. Игроки могут наслаждаться любимыми играми в любое время и в любом месте, зная, что их доступ к 1xslots надежен и защищен.

    Reply
  3. Ronaldpaist says:
    8 months ago

    Казино Вавада – это идеальное место для поклонников игровых удовольствий, которые предпочитают качество, надежность и разнообразный выбор игр. Сконструированный с оглядкой на текущих трендов и пожеланий игроков, сайт Вавада гарантирует привлекательное и надежное место для игры.

    Одним из главных преимуществ казино Vavada является разнообразие представленных игровых автоматов и настольных игр. На сайте присутствуют все, начиная от традиционных игровых автоматов с понятным управлением и заканчивая продвинутыми слотами с высококачественной графикой и специальными фишками. Поклонники игр за столом найдут, чем заняться, ведь на сайте есть и рулетка, и техасский холдем, и двадцать одно в многочисленных вариантах. Казино характеризуется тщательно спроектированным и простым в использовании дизайном, благодаря которому даже новички быстро освоятся и начнут играть. Регистрация и вход в личный кабинет отнимает минимум времени, а бонус за регистрацию даёт возможность приступить к игре с бонусными деньгами, что увеличивает шансы на выигрыш.

    Безопасность и прозрачность – важнейшие задачи казино . Сайт внедряет новейшие технологии защиты данных, гарантируя сохранность конфиденциальных сведений и финансовых транзакций игроков. Лицензирование казино гарантирует его соответствие мировым нормам сферы азартных игр. Вдобавок к этому, на сайте часто проводятся акции и турниры, которые позволяют пользователям получить дополнительные призы и попробовать удачу в состязаниях с оппонентами. Круглосуточная служба поддержки всегда на связи в любое время суток, решая все вопросы и решая возникшие проблемы.

    Вавада – это больше, чем просто онлайн-казино. Это площадка, где сочетаются адреналин, развлечения и возможность выиграть крупные суммы, создавая неповторимую атмосферу игры.

    Играть на сайте

    Reply
  4. Ronaldpaist says:
    8 months ago

    Vavada casino – это оптимальное место для ценителей азартных развлечений, которые ценят качество, надежность и широкий выбор игр. Созданный с учетом современных тенденций и пожеланий игроков, сайт Вавада обеспечивает привлекательное и безопасное среду для развлечений.

    Ключевым преимуществом казино Vavada является богатый выбор игровых аппаратов и настольных игр. Вы найдете здесь абсолютно все, начиная от стандартных аппаратов с простым геймплеем и заканчивая продвинутыми слотами с отличной графикой и уникальными бонусными функциями. Любители карточных и настольных игр будут в восторге, ведь на сайте есть и колесо фортуны, и покер, и блэкджек в многочисленных вариантах. Казино выделяется продуманным и интуитивно понятным интерфейсом, что позволяет даже новички могут быстро адаптироваться и смогут приступить к игре. Регистрация и вход отнимает минимум времени, а приветственный бонус даёт возможность приступить к игре с дополнительным балансом, что повышает вероятность выигрыша.

    Безопасность и честность – главные принципы казино . Сайт применяет новейшие технологии защиты данных, обеспечивая защиту личных данных и финансовых транзакций игроков. Наличие лицензии у казино подтверждает его соответствие общепринятым стандартам игорной индустрии. Кроме того, на сайте часто проводятся акции и турниры, которые позволяют пользователям получить дополнительные призы и испытать удачу в соревнованиях с другими игроками. Оперативная служба поддержки всегда готова помочь в любое время суток, отвечая на вопросы и помогая решить проблемы.

    Казино Вавада – это больше, чем обычное онлайн-казино. Это пространство, где объединяются адреналин, игры и шанс на крупный выигрыш, создавая уникальную игровую атмосферу.

    Играть на сайте

    Reply

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