The Ethereum layer-2 network is expected to outperform Solana by a significant margin in the next five years, according to analyst Ryan Berckmans. In a recent post, Berckmans highlighted the rapid growth of layer-2 protocols and EVM scaling platforms, dismissing bearish claims about their effectiveness.
Contrary to Movement Labs founder Rushi Manche’s assertion that EVM L2s are inferior to Solana, Berckmans emphasized that the layer-2 ecosystem is thriving. He pointed to ecosystem analytics platforms like L2beat and noted that major players like Coinbase, Worldcoin, and Immutable X have all embraced EVM L2 solutions.
Berckmans argued that layer-2 solutions are not just about scaling Ethereum but are also integral to the network’s overall ecosystem. He highlighted Ethereum’s credibility and neutrality as key advantages over other layer-1 networks, emphasizing the platform’s liquidity, mature protocols, and total value locked.
The analyst predicted that the total transactions per second (tps) of the L2 ecosystem will far exceed Solana’s tps within the next five years, potentially by a factor of 100. He also noted that Ethereum’s security and decentralization properties make it an attractive choice for corporations and governments looking to leverage blockchain technology.
Berckmans dismissed claims that EVM L2s are on the decline, asserting that Ethereum’s layer-2 model is thriving. He highlighted the growing settlement network effect on Ethereum, where the expanding array of layer-2 protocols enhances the benefits and reduces the costs of transacting on the network.
According to L2beat, the total value locked across all layer-2 protocols currently stands at $42.86 billion, a significant increase from previous years. Leading the pack is Arbitrum One with a TVL of $17 billion, followed by Coinbase Base and OP Mainnet. The presence of 58 protocols on L2beat is a clear indication of the ecosystem’s growth and development.
Overall, Berckmans’ analysis paints a positive picture of Ethereum’s layer-2 ecosystem, highlighting its potential to outperform competing networks like Solana in the coming years. As the industry continues to evolve, the scalability and efficiency of layer-2 solutions are likely to play a crucial role in shaping the future of blockchain technology.