Chainfeeds Summary:
Placeholder partner Chris Burniske believes Ethereum should continue to consolidate its position as the center of the Internet Financial System (IFS) to compete for the share of the general user.
Source:
https://x.com/cburniske/status/1857927489940762956
Author:
Chris Burniske
Viewpoint:
Chris Burniske: One of the reasons Placeholder focused on Solana in the last bear market was the belief that it would become the mass-market chain due to its speed, low fees, and smooth user experience. This has been validated in memecoins and other products. But since Placeholder's inception, we have been supporters of Ethereum, and that hasn't changed. In this cycle, while Ethereum may lose the "mass market share" to Solana, the community should continue to consolidate the network's position as the center of the Internet Financial System (IFS). In the second half of this decade, the relevance of IFS will continue to grow, and more ordinary people will join it. Ethereum has a solid foundation because it has over a decade of history, brand recognition second only to Bitcoin, deep liquidity, and initiatives like Base have attracted the attention of enterprises. Although the fragmentation shortcomings of the L2 model (which will be addressed) are well known, it is a good thing for TradFi companies because it allows for more control and direct profitability. Avax has also focused on this from the beginning, with their subnet model and emphasis on IFS. The recent buzz around Ethereum has been encouraging to me. In my view, some members of the Ethereum community have been complacent since 2022, thinking they are superior. But as they are challenged as laggards, many parts of the Ethereum organism are coming alive. Just as Bitcoin has recently experienced a renaissance, we can see Ethereum going through a similar process in the coming years, which is the result of competition forcing introspection. The evolution of the major blockchains is an extremely long game - anyone who thinks they have won this war too early will be self-satisfied and ultimately fail.
Source
