According to Sandeep Nailwal Ethereum would surpass all other layer 1 competitors.
A network outage has happened to Polygon.
Sandeep Nailwal, the co-founder of Polygon, discussed his forecast for the cryptocurrency environment in an interview. He anticipated that Ethereum would surpass all other layer 1 competitors to become the standard smart contract system.
Sandeep Nailwal stated:
I don’t think there’s going to be a multi-layer 2 environment. There’ll be a layer 1 environment; there will be one single layer 1, which is Ethereum in my mind.
He asserted that Solana, Aptos, Avalanche, and Cardano haven’t yet shown substantial traction, nor have their respective layer 2s. With that, he declared that no other chain could compete with Ethereum. Nailwal believes that while all other rival layer-1s fail, Ethereum is going to be the dominant smart contract platform. Users will then gather to work on level 2 based on Ethereum from there.
Polygon is a proof-of-stake (PoS) crypto network that hosts several decentralized finance (DeFi) and non-fungible token (NFT) projects. On Wednesday, the Polygon blockchain encountered difficulties with the network explorer PolygonScan, resulting in the blockchain not processing any transactions for a short period. Some users even speculated that the network was down.