Row 24087

Row ID: 24087 | Dataset Entry | Axioma AXP Content Repository

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ETH inflation is just fine at a near 0% target. It's 40% lower than Bitcoin & much lower than Solana right now. It will only grow lower with more L2 activity. This is a anti-ETH narrative. With more L2 adoption more gas will be burnt. We heard the same silly criticisms for Solana. "Solana fees too cheap! They'll never have enough transactions to burn SOL!". Guess what? Solana has now had days where it passed Ethereum in transaction fee revenue. Cheaper fees aren't a bad thing. They bring more adoption. More adoption brings more transaction burn. Being upset that less gas is currently being burnt because Ethereum took a huge leap in scaling is wild. Things will even back out as the monetary policy was designed to do with global adoption.

L2 fragmentation is solved by instant transactions with shared sequencing. Both are being worked on. Then with account abstracted wallets like Coinbase Smart wallet you won't even need to know where your ETH is. It can share your ETH balance from your Coinbase account and your self custody address as though it was one balance while providing near instant and gasless transactions.

Staking is provided by numerous LSTs that are all now on L2 too. Use Ethereum (Base). It's the same experience as Solana. The only difference is Solana believes the road to infinite scaling can be done on a single state machine. Ethereum believes roll-ups are the only path forward and even Solana will need to go down the same modular path. It's difficult to see who has the right approach. However, if Ethereum devs are correct than Solana will need to solve all the same issues Ethereum has been working on for years. This is the bet. We are betting on which approach can infinitely scale while the end user is entirely blind to either back end. Solana has massive work to prove we can scale a monolithic design (Solana can not scale enough for global adoption as it stands) and Ethereum has massive work to abstract complexity of a modular design (A modular design that can scale for global adoption). Both designs may be just as successful or one may turn out superior. It's too early to say for certain.

FieldValue
text ETH inflation is just fine at a near 0% target. It's 40% lower than Bitcoin & much lower than Solana right now. It will only grow lower with more L2 activity. This is a anti-ETH narrative. With more L2 adoption more gas will be burnt. We heard the same silly criticisms for Solana. "Solana fees too cheap! They'll never have enough transactions to burn SOL!". Guess what? Solana has now had days where it passed Ethereum in transaction fee revenue. Cheaper fees aren't a bad thing. They bring more ad…
label r/solana
dataType comment
communityName r/solana
datetime 2024-05-21
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Raw Record

{
  "text": "ETH inflation is just fine at a near 0% target. It's 40% lower than Bitcoin & much lower than Solana right now. It will only grow lower with more L2 activity. This is a anti-ETH narrative. With more L2 adoption more gas will be burnt. We heard the same silly criticisms for Solana. \"Solana fees too cheap! They'll never have enough transactions to burn SOL!\". Guess what? Solana has now had days where it passed Ethereum in transaction fee revenue. Cheaper fees aren't a bad thing. They bring more adoption. More adoption brings more transaction burn. Being upset that less gas is currently being burnt because Ethereum took a huge leap in scaling is wild. Things will even back out as the monetary policy was designed to do with global adoption.\n\nL2 fragmentation is solved by instant transactions with shared sequencing. Both are being worked on. Then with account abstracted wallets like Coinbase Smart wallet you won't even need to know where your ETH is. It can share your ETH balance from your Coinbase account and your self custody address as though it was one balance while providing near instant and gasless transactions.\n\nStaking is provided by numerous LSTs that are all now on L2 too. Use Ethereum (Base). It's the same experience as Solana. The only difference is Solana believes the road to infinite scaling can be done on a single state machine. Ethereum believes roll-ups are the only path forward and even Solana will need to go down the same modular path. It's difficult to see who has the right approach. However, if Ethereum devs are correct than Solana will need to solve all the same issues Ethereum has been working on for years. This is the bet. We are betting on which approach can infinitely scale while the end user is entirely blind to either back end. Solana has massive work to prove we can scale a monolithic design (Solana can not scale enough for global adoption as it stands) and Ethereum has massive work to abstract complexity of a modular design (A modular design that can scale for global adoption). Both designs may be just as successful or one may turn out superior. It's too early to say for certain.",
  "label": "r/solana",
  "dataType": "comment",
  "communityName": "r/solana",
  "datetime": "2024-05-21",
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}
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