Crypto leaders shared their top Layer 1 blockchain picks at the recently concluded Token 2049 event held in Singapore. Solana, Ethereum, Ton, and Sui were among the favorites, with experts highlighting their strengths and potential.
A YouTube video by Altcoin Buzz has now featured the insights from industry figures like John Mullin of Mantra DAO, Aleksander Larsen of Sky Mavis, Mario Casiraghi of SingularityNET, and Charles d’Haussy of the dYdX Foundation on the pros and cons of Solana and Ethereum, as well as rising stars like Ton and Sui. Here’s what they had to say:
Solana and Ethereum Leads in Layer 1
Solana and Ethereum remain among the most popular L1 solutions, each excelling in different areas. Solana is praised for its high transaction speeds and low costs, and it continues to dominate the gaming and decentralized finance (DeFi) sectors.
Michael Wagner of Star Atlas commented on Solana’s effectiveness for gaming projects: “There’s no interest from our side in migrating to another chain.” The blockchain’s high throughput has positioned it as a competitive L1 solution.
While Solana continues to rise, Ethereum remains a cornerstone of blockchain development. Many projects still rely on Ethereum for its security and broad ecosystem. However, Ethereum’s slower transaction speeds compared to newer blockchains like Solana have led some developers to seek alternatives for specific use cases.
Layer 2 solutions, such as Etherlink built on top of Tezos and roll-ups, are emerging to address Ethereum’s scalability issues and offer faster and cheaper transactions.
Emerging Players: Ton and Sui
Beyond the established players, Ton and Sui are emerging as promising blockchain platforms. Originally developed by Telegram, Ton has garnered attention for its unique features and growing community. “Ton offers something fundamentally new,” said Charlie Hu of Bitlayer.
Sui, another emerging Layer 1 project, is also gaining attention. With a focus on improving decentralized infrastructure, Sui’s capabilities position it as a potential competitor to established platforms.
Community Over Technology
While technological advancements are crucial, many speakers agreed that community strength is the key driver of a blockchain’s success. “Tech can be copied, but it’s the community that keeps a project alive,” noted Aleksander Larsen of Sky Mavis.
A key example is Bitcoin. Despite its technological limitations compared to newer blockchains, Bitcoin remains dominant due to its strong community and social consensus.
Similarly, Ethereum and Solana, two major L1 blockchains, are recognized for their engaged user bases and developer ecosystems, which continue to bolster their growth.
Meanwhile, another expert predicts that the future of blockchain may see fewer L1 and L2 blockchains, with many smaller projects likely to fade. With numerous blockchains in existence, consolidation seems inevitable.
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