Ethereum (ETH) Will Dominate the Future of Web 3.0, Says Polygon (MATIC) Founder Sandeep Nailwal – Here’s Why

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Co-founder of Ethereum (ETH) scaling solution Polygon (MATIC), Sandeep Nailwal is optimistic that ETH will lead the third generation of the internet.

In a new interview with crypto channel host Scott Melker, Nailwal said Ethereum could massively dominate Web 3.0, a version of the internet where platforms are decentralized and users control their own data.

“Our Web 3.0 thesis is that all of space is going to evolve in some way where Ethereum or a particular Layer 1, and we strongly believe that 99.9999% of it is Ethereum with its network effects.

And how Ethereum, ETH, as an asset has evolved. How the Ethereum network evolved as a decentralized protocol. How the Ethereum community evolved for people like us to fight for Ethereum as if it were our own protocol.

Ethereum has a very big advantage and we don’t see any other layer 1 becoming that.

The Polygon (MATIC) co-founder claims that while Ethereum can suffer from speed and cost limitations, it has managed to stay decentralized, unlike its competitors.

Citing the scalability trilemma that was first coined by Ethereum co-founder Vitalik Buterin, the Nailwal claims that the second-largest crypto asset by market cap has prioritized security and reliability. decentralization rather than scalability.

The scalability trilemma states that increasing the scalability of a blockchain comes at the expense of security or decentralization.

“Scalability, security and decentralization – you can only choose two, right? And you can’t not choose security – you have to have security. So either scalability or decentralization, you have to choose one.

And then any layer 1 that says it’s slightly more scalable than Ethereum – it ends up choosing scale over decentralization. And any layer 1 that’s trying to do, say, more layer 1 transactions – they’re not able to deliver on that promise. Or they are extremely centralized.

Or at least they’re built in a way that ensures they’ll never be decentralized enough.

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Feature image: Shutterstock/Tithi Luadthong

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