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Ethereum (ETH) Layer 2 (L2) networks are currently under discussion regarding their longevity and architectural approach, during which Kenny Li, co-founder and managing director of Manta Pacific, claimed that only a few of the 44 active L2 networks are likely to survive over the next five years. Li argued in favor of “modular” blockchain networks like Manta, Celestia, and Cosmos, as opposed to more traditional “monolithic” approaches.
Most Ethereum L2s Not Seen to Have a Bright Future
Although Ethereum‘s L2 world stands out with a significant number of networks and a total locked value (TVL) of $36.92 billion, Li compared them to past forks of original networks like Bitcoin (BTC) and Ethereum, which failed to sustainably compete. He suggested that the new wave of Ethereum L2s is following a similar trajectory to those once touted as “Bitcoin killers” or “Ethereum killers”.
Li highlighted that the main issue with previous forks and alternative networks was their monolithic structures, which hindered quick integration and adaptation to new technologies. The co-founder of Manta Pacific favored modular blockchains for their greater design flexibility and adaptability, predicting that only a few L2 projects would survive in the evolving landscape.
The Debate Between Modular and Monolithic in the Crypto World
Currently, critics in the cryptocurrency world argue that the debate between modular and monolithic approaches is largely a “marketing show”.
Austin Federa, Strategy Lead at Solana Foundation, described this distinction as artificial. Federa stated that both approaches have their unique values and that the narrative surrounding them stems more from marketing than from natural differences in architecture.
Despite the debate, Li showcased Manta as a leading example of modular L2 networks, emphasizing its adaptability and ability to integrate various technologies. Nonetheless, Federa continues to argue that the distinction between modular and monolithic systems is overly simplified and does not reflect the distinguishable reality of Blockchain architecture.
