Maria Irene
Discussions around Layer 1 (L1) and Layer 2 (L2) scaling solutions have taken center stage once again with the launch of BASE. Security, cost, and performance are often at the heart of the conversation, with experts and enthusiasts weighing in from various angles. One such voice making waves is Justin Bons, Founder & CIO of CyberCapital, Europe’s Oldest Cryptocurrency Fund. Notably, Bons has sparked interest with his recent endorsement of Solana’s L1 over traditional L2s, despite having been a vocal critic of Solana in the past.Once an ardent critic of Solana, highlighting its numerous red flags and history of downtime, Bons seems to have taken a nuanced shift in his stance. He acknowledges Solana’s past failures but emphasizes that most of his technical criticisms have been addressed and fixed. Despite standing by his earlier critique, Bons now views Solana as a more reliable option compared to Ethereum’s L2s. He points to the objective fact that over the last few months, Ethereum’s L2s have faced more outages compared to Solana’s L1.
Bons’s comparison of L1 liveness to L2 liveness has struck a chord in the community. Calling this equivalence a massive “self-own” for L2 scaling advocates, he highlights the significant trade-offs between L1 and L2 scaling. According to Bons, a delay in finality time for L1 scaling is minor compared to the complexities of L2 fragmentation. Others in the conversation have challenged Bons, some expressing disappointment in his analysis, calling for unbiased criticism, and questioning Solana’s reliability.
The conversation also dips into the sensitive subject of transaction fees. Bons argues that a $20 fee is still a $20 fee from a user’s perspective, regardless of the underlying components. This viewpoint resonates with many crypto users who often find themselves grappling with high and sometimes unexpected fees.
What stands out in Bons’s recent comments is his ability to take a nuanced position that recognizes improvements while not ignoring past criticisms. His analysis opens doors for more in-depth scrutiny and balanced evaluation of L1 and L2 scaling solutions. The complex interplay between these layers is far from a settled matter, and thought leaders like Justin Bons continue to shape our understanding of these intricate technologies.
The debate encapsulates the dynamism and rapid evolution of the blockchain landscape. Figures like Justin Bons are instrumental in challenging preconceived notions, reminding us that the crypto space is ever-changing and full of surprises. So after expressing all these views, can Solana be the new darling? This space is Wow…just wow.
