gm Bankless Nation, Layer 2s have been under fire in the Ethereum community, but not all critiques are equal. StarkWare's CEO shares his take in his new Bankless Op-Ed.
gm Bankless Nation, Layer 2s have been under fire in the Ethereum community, but not all critiques are equal. StarkWare's CEO shares his take in his new Bankless Op-Ed.
Today's Issue ⬇️
☀️ Need to Know: Bet on Elections Election betting contracts are legal.
📊 Market Vibes: Topsy Turvy Big gains and big losses in crypto / W rating.
📸 Daily Market Snapshot: Another middling day for crypto prices took ETH prices down 8% on the week. Not everything is flailing, though, as memecoins pump. and FTX's FTT token is up a whopping 46% as degen traders bet on a moonshot reorganization plan-led resurgence.
Prices as of 6pm ET
24hr
7d
Crypto $2.11T
↘ 1.1%
↘ 5.4%
BTC $60,876
↘ 0.4%
↘ 4.2%
ETH $2,381
↘ 3.6%
↘ 7.8%
W $0.339
↗ 8.1%
↗ 31.7%
🪱
New Token Rating: Wormhole’s W token has been down-only since it launched in early April into peak market froth. Can HODLers finally rest easy on their “Ws” after a solid month of gains?
Blockchain tribalism often makes us deaf to our critics. We ignore them at our peril.
Despite making me squirm at points, I listened carefully to Ethereum researcher Max Resnick’s much-discussed Bankless interview in which he lambasted Ethereum Layer 2s (L2s) as “parasitic.” Resnick's argument is that L2s are becoming a cozy cottage industry that sucks value away from Ethereum, the Layer 1 blockchain.
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