Justin Bons, founder of Cyber Capital, criticized Ethereum’s current state, claiming it is “dying” as Layer 2 (L2) solutions thrive at its expense. He argues that L2s are benefiting from Ethereum’s limited capacity, leading to a parasitic relationship that fragments the ecosystem and centralizes control, undermining the original decentralization goals. Bons warns that without significant changes, L2s may prioritize their interests over Ethereum’s, risking a collapse in value for the network.
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