TechFlow news, according to BlockBeats, during the "Why SOL Will Flip ETH" panel discussion on the first day of TOKEN2049's main venue, Kyle Samani, co-founder and managing partner of Multicoin Capital, shared his views on Ethereum's development.
Samani pointed out that Ethereum has been around for nine years, yet its ecosystem has developed slowly and has consistently failed to clarify its own positioning. He highlighted three key milestones in Ethereum's development: DeFi Summer, the unveiling of a new roadmap in October 2020 (which was unfavorable for DeFi), and the transition from PoW to PoS in 2022. Samani specifically noted that Ethereum had planned to shift to PoS even before its mainnet launch in 2015, but it took seven years to actually achieve this transition. He believes that the Ethereum community has never clearly defined its developmental direction, which is precisely why its progress has been slow.
Samani stated that Ethereum's roadmap aims to push transactions from L1 to L2, a goal that has already been achieved, with over 90% of transactions now occurring at the L2 level. However, he questioned the ultimate purpose of this strategy, arguing that in moving transactions to L2s, Ethereum has also shifted most of the real value accrual toward the usability of assets. Samani emphasized that although Ethereum is discussing the value proposition of DA (data availability) tools, it is actually the L2 layers that are capturing all the profits.
