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February 12, 2025 at 11:03 AM
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We moved from informal agreement to contract in just 15 days—our fastest ever. Personal connection and alignment are key.
Many in crypto prioritise business over relationships, and that's extremely bad for the community as a whole.
Many in crypto prioritise business over relationships, and that's extremely bad for the community as a whole.
February 12, 2025 at 11:03 AM
We moved from informal agreement to contract in just 15 days—our fastest ever. Personal connection and alignment are key.
Many in crypto prioritise business over relationships, and that's extremely bad for the community as a whole.
Many in crypto prioritise business over relationships, and that's extremely bad for the community as a whole.
They ended the contract with Etherscan and were ready to get on with us.
February 12, 2025 at 11:03 AM
They ended the contract with Etherscan and were ready to get on with us.
Then, one day, a message came from Derek:
February 12, 2025 at 11:03 AM
Then, one day, a message came from Derek:
And honestly, when they announced they got in the Superchain, we even offered to index the chain for free thanks to our offer related to Retro Funding, but there were issues and we had to run our own node, incurring us in high costs that we couldn't sustain for a free explorer.
February 12, 2025 at 11:03 AM
And honestly, when they announced they got in the Superchain, we even offered to index the chain for free thanks to our offer related to Retro Funding, but there were issues and we had to run our own node, incurring us in high costs that we couldn't sustain for a free explorer.
I saw a bit of myself in Derek, both for his role and his personal life.
I would chime in, every now and then, and ask if there was a chance to resume the 'explorer conversation', but I mostly got 'contract is not ended yet'.
I would chime in, every now and then, and ask if there was a chance to resume the 'explorer conversation', but I mostly got 'contract is not ended yet'.
February 12, 2025 at 11:03 AM
I saw a bit of myself in Derek, both for his role and his personal life.
I would chime in, every now and then, and ask if there was a chance to resume the 'explorer conversation', but I mostly got 'contract is not ended yet'.
I would chime in, every now and then, and ask if there was a chance to resume the 'explorer conversation', but I mostly got 'contract is not ended yet'.
But me and Derek, we bonded: he's my friend, truly. He's my korean friend. We met multiple times over the following 12 months. I even went visit their office during my visit to Seoul last March.
We chatted every time we could, during events and even on Telegram.
We chatted every time we could, during events and even on Telegram.
February 12, 2025 at 11:03 AM
But me and Derek, we bonded: he's my friend, truly. He's my korean friend. We met multiple times over the following 12 months. I even went visit their office during my visit to Seoul last March.
We chatted every time we could, during events and even on Telegram.
We chatted every time we could, during events and even on Telegram.
I was sad, but I still tried to put them up for a second explorer, but nothing came through: they used blockscout as second choice, so they didn't need a third one.
February 12, 2025 at 11:03 AM
I was sad, but I still tried to put them up for a second explorer, but nothing came through: they used blockscout as second choice, so they didn't need a third one.
We went to McDonald's for a burger, fries, and a chat about launching a competitor to Etherscan.
He was interested, but Wemix already managed their contracts and had agreements for their explorers, so our 'reduce costs by 90%' pitch didn't land.
He was interested, but Wemix already managed their contracts and had agreements for their explorers, so our 'reduce costs by 90%' pitch didn't land.
February 12, 2025 at 11:03 AM
We went to McDonald's for a burger, fries, and a chat about launching a competitor to Etherscan.
He was interested, but Wemix already managed their contracts and had agreements for their explorers, so our 'reduce costs by 90%' pitch didn't land.
He was interested, but Wemix already managed their contracts and had agreements for their explorers, so our 'reduce costs by 90%' pitch didn't land.
I met Derek, COO, in Paris, outside a zkSync event. I was expecting to get in, but my PoC wasn't answering. So I met him and since we were both expecting to eat at that event, we now had nothing to eat, and it was way past 10 PM!
February 12, 2025 at 11:03 AM
I met Derek, COO, in Paris, outside a zkSync event. I was expecting to get in, but my PoC wasn't answering. So I met him and since we were both expecting to eat at that event, we now had nothing to eat, and it was way past 10 PM!
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February 11, 2025 at 12:34 PM
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Either way, decentralization on L1 gets destroyed.
This a utopia for now, but not so much in the medium term (3-5 years). And since Ethereum roadmaps are this long, it makes sense to take notice.
This a utopia for now, but not so much in the medium term (3-5 years). And since Ethereum roadmaps are this long, it makes sense to take notice.
February 11, 2025 at 12:34 PM
Either way, decentralization on L1 gets destroyed.
This a utopia for now, but not so much in the medium term (3-5 years). And since Ethereum roadmaps are this long, it makes sense to take notice.
This a utopia for now, but not so much in the medium term (3-5 years). And since Ethereum roadmaps are this long, it makes sense to take notice.
Two possible outcomes are:
1) L2s might eventually become unprofitable in dollar terms because ETH's value is too low, while blob and execution expenses are too high.
2) L2s could form a cartel to stabilize ETH’s price, ensuring they can continue profiting from sequencing fees.
1) L2s might eventually become unprofitable in dollar terms because ETH's value is too low, while blob and execution expenses are too high.
2) L2s could form a cartel to stabilize ETH’s price, ensuring they can continue profiting from sequencing fees.
February 11, 2025 at 12:34 PM
Two possible outcomes are:
1) L2s might eventually become unprofitable in dollar terms because ETH's value is too low, while blob and execution expenses are too high.
2) L2s could form a cartel to stabilize ETH’s price, ensuring they can continue profiting from sequencing fees.
1) L2s might eventually become unprofitable in dollar terms because ETH's value is too low, while blob and execution expenses are too high.
2) L2s could form a cartel to stabilize ETH’s price, ensuring they can continue profiting from sequencing fees.
If just one Base L2 is affecting ETH's value—and the market has already priced this in due to visible large short positions on ETH—imagine the impact if there were 5 or 10. ETH would rapidly lose value, making it economically unviable for home stakers to continue staking.
February 11, 2025 at 12:34 PM
If just one Base L2 is affecting ETH's value—and the market has already priced this in due to visible large short positions on ETH—imagine the impact if there were 5 or 10. ETH would rapidly lose value, making it economically unviable for home stakers to continue staking.
Each one can’t have their own token, because.. security! So each one, just like Base, gets traction and revenue in ETH and sells those.
February 11, 2025 at 12:34 PM
Each one can’t have their own token, because.. security! So each one, just like Base, gets traction and revenue in ETH and sells those.
As a counter-example, let’s imagine all major players in Web2 make their L2s on top of Ethereum L1. Among these:
- NASDAQ
- Blackrock
- Electronic Arts
- The U.S. government
Just as an example among different industries.
- NASDAQ
- Blackrock
- Electronic Arts
- The U.S. government
Just as an example among different industries.
February 11, 2025 at 12:34 PM
As a counter-example, let’s imagine all major players in Web2 make their L2s on top of Ethereum L1. Among these:
- NASDAQ
- Blackrock
- Electronic Arts
- The U.S. government
Just as an example among different industries.
- NASDAQ
- Blackrock
- Electronic Arts
- The U.S. government
Just as an example among different industries.
And I’m saying it out of interest, because we make money when new chains launch and choose us as their explorer.
Do your own thing, but don’t try to scale to 1M TPS: you won’t have real TPS anyway.
Do your own thing, but don’t try to scale to 1M TPS: you won’t have real TPS anyway.
February 11, 2025 at 12:34 PM
And I’m saying it out of interest, because we make money when new chains launch and choose us as their explorer.
Do your own thing, but don’t try to scale to 1M TPS: you won’t have real TPS anyway.
Do your own thing, but don’t try to scale to 1M TPS: you won’t have real TPS anyway.
You cannot have ONE L1. You must have many L1s for any kind of reason: compliance, security, technical vision.
And Ethereum is not going to have 10,000 L2s just like there won’t be 10,000 Cosmos, Avalanche or Polkadot L1s. It just doesn’t make sense.
And Ethereum is not going to have 10,000 L2s just like there won’t be 10,000 Cosmos, Avalanche or Polkadot L1s. It just doesn’t make sense.
February 11, 2025 at 12:34 PM
You cannot have ONE L1. You must have many L1s for any kind of reason: compliance, security, technical vision.
And Ethereum is not going to have 10,000 L2s just like there won’t be 10,000 Cosmos, Avalanche or Polkadot L1s. It just doesn’t make sense.
And Ethereum is not going to have 10,000 L2s just like there won’t be 10,000 Cosmos, Avalanche or Polkadot L1s. It just doesn’t make sense.
They tried, over the past 50 years, to superimpose their culture and influence. But eventually, China, Russia, Middle East powers and the BRICS also exerted THEIR influence.
February 11, 2025 at 12:34 PM
They tried, over the past 50 years, to superimpose their culture and influence. But eventually, China, Russia, Middle East powers and the BRICS also exerted THEIR influence.
Even if they solve the social layer issues, it’s still just ‘one community’. It’s just like saying that the U.S. should govern the whole world directly.
February 11, 2025 at 12:34 PM
Even if they solve the social layer issues, it’s still just ‘one community’. It’s just like saying that the U.S. should govern the whole world directly.
Ethereum is not the panacea to solving the world computing. @VitalikButerin may be having a superhuman moment, because Ethereum cannot possibly be the only L1 out there.
It just doesn’t make sense.
It just doesn’t make sense.
February 11, 2025 at 12:34 PM
Ethereum is not the panacea to solving the world computing. @VitalikButerin may be having a superhuman moment, because Ethereum cannot possibly be the only L1 out there.
It just doesn’t make sense.
It just doesn’t make sense.
MegaETH is launching as an L2, while Monad is not. Sei is an EVM-compatible Cosmos L1. Solana, on the other hand, has an entirely different VM.
February 11, 2025 at 12:34 PM
MegaETH is launching as an L2, while Monad is not. Sei is an EVM-compatible Cosmos L1. Solana, on the other hand, has an entirely different VM.
Actually, they're not. L2s are Ethereum's secret weapon for scaling, but imagining 10,000 L2s is over the top. You really only need about 20—and not all need to be ultra-high throughput.
February 11, 2025 at 12:34 PM
Actually, they're not. L2s are Ethereum's secret weapon for scaling, but imagining 10,000 L2s is over the top. You really only need about 20—and not all need to be ultra-high throughput.