Subscribe to Bankless or sign in
There’s been a lot of deserved excitement on Twitter lately in the Bitcoin and Solana communities, driven by fundamental improvements, increased fee generation, and, of course, hype from numbers going up. But the Ethereum community, which remains an epicenter of crypto adoption and innovation, has appeared at times muted. It led me to wonder, is it just that the number isn't going up?
I think there’s a deeper reason: the Ethereum blockchain is transitioning from B2C (execution) to B2B (settlement). This is a known technical consequence of the Ethereum Endgame, but I haven't seen much written about what it means for the Ethereum social layer and community, so I'll attempt to unpack the topic here.
In the long run, will the number of users of the Ethereum blockchain increase or decrease from today? I think decrease. L2s already consume as much as 20% of the gas on Ethereum and I expect that percentage to keep rising in the coming years, even as advancements like EIP-4844 and Full Danksharding dramatically lower costs for rollups to settle to Ethereum. This decrease in end users of the Ethereum blockchain itself means that there will be relatively few people that are just part of the Ethereum community.
Subscribe for free to continue reading
- Support the Bankless Movement
- Access to thousands of articles
- Complete archive of Bankless episodes
- Embark on free quests in Airdrop Hunter
- Daily alpha in your inbox
Already subscribed? Sign in
