Crypto leaders shared their top Layer 1 blockchain picks at the recently concluded Token 2049 event in Singapore. Solana, Ethereum, Ton and Sui were among the favorites, with experts highlighting their strengths and potential.
A YouTube video from Altcoin Buzz now features insights from industry figures such as 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, but also emerging stars such as Ton and Sui. Here’s what they had to say:
Solana and Ethereum lead in layer 1
Solana and Ethereum remain among the most popular L1 solutions, each excelling in different areas. Lauded for its fast transaction speeds and low fees, Solana continues to dominate the gaming and decentralized finance (DeFi) industries.
Michael Wagner of Star Atlas said of Solana’s effectiveness for gaming projects: “There is no interest on our part to migrate to another chain.” The blockchain’s high throughput has positioned it as a competitive L1 solution.
As 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.
Up and coming players: Ton and Sui
In addition to the established players, Ton and Sui emerge as promising blockchain platforms. Originally developed by Telegram, Ton has attracted attention for its unique features and growing community. “Ton offers something fundamentally new,” says Charlie Hu of Bitlayer.
Sui, another upcoming Layer 1 project, is also getting 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 the power of community is the key driver for a blockchain’s success. “Technology can be copied, but it is the community that keeps a project alive,” says Aleksander Larsen of Sky Mavis.
An important 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 support their growth.
Meanwhile, another expert predicts that the future of blockchain may see fewer L1 and L2 blockchains, while many smaller projects are likely to disappear. Now that numerous blockchains exist, consolidation seems inevitable.
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