Vitalik Buterin Doesn’t Want to Share the Ethereum Blockchain with Anyone

Vitalik Buterin has started talking about Layer 2 (L2) protocols becoming irrelevant. The founder of Ethereum has accused them of centralization, low throughput, regulatory compliance, and other issues.

A few years ago, Buterin presented L2 solutions as a key stage in Ethereum's evolution to solve the scaling problem. However, the "genius" had a major failure with Plasma, which was supposed to scale to a billion transactions per second.

Other developers have overtaken Vitalik. Now, just the six largest L2 networks account for over $100 billion in Total Value Locked (TVL), and their utility tokens have a combined market cap of around $80 billion.

Buterin and his team would like to bring liquidity back to the Ethereum blockchain itself. That's why recent hard forks have been aimed at increasing block throughput. This has already led to record transaction growth in four years.

Now, Vitalik is advocating for a more measured approach to integrating third-party technologies. He sees Ethereum's future solely in developing and strengthening the main blockchain.