Ethereum (ETH) scaling solution Polygon (MATIC) Sandeep Nailwal, co-founder of ETH, is expected to be the crypto trend of 2022; believes it will dominate Web 3.0, the latest Internet technology that leverages machine learning, artificial intelligence and blockchain to enable real-world human communication.
In a new interview with Scott Melker, a crypto Youtube channel host, Nailwall said; He claims that Ethereum has the potential to dominate Web 3.0, a version of the internet where platforms are decentralized and users have control over their own data.
“Our thesis about Web 3.0 is that the whole field will evolve around Ethereum or a particular layer-1. And we strongly believe that this platform will be 99.9999 percent Ethereum because of the network effects.
And Ethereum as an asset, ETH, has undergone an evolution. The evolution of the Ethereum network as a decentralized protocol. The evolution of the Ethereum community in such a way that people like us fight for Ethereum like our own protocol makes us think about this. Ethereum has a huge advantage and we don’t think another layer-1 could become this one.”
The Polygon (MATIC) co-founder says that while Ethereum suffers from speed and cost limitations, it has managed to remain decentralized unlike its competitors.
Nailwal is the name that was first invented by Ethereum co-founder Vitalik Buterin.Scalability TrilemmaHe says that the second-largest crypto asset by market capitalization prioritizes security and decentralization over scalability.
Generally speaking, Scalability Trilemma claims that there is a trade-off between three important DLT features in a blockchain: decentralization, scalability, and security. So this is; decentralization means you can only have both, scalability or security.
“Scalability, security and decentralization – you can only choose two of them, right? And you don’t have a choice about security – you have to have security. That’s why you have to choose between scalability and decentralization.
Besides, any layer-1 that claims to be slightly more scalable than Ethereum would have to choose scalability over decentralization. Let’s say there is any platform trying to process a larger amount in tier-1, and they will not be able to deliver on that promise. Or they become overly centralized, or they can never be decentralized enough.”
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