Ethereum has proven itself to be an extremely popular computin | IDO NFT SHILLER

Ethereum has proven itself to be an extremely popular computing platform, with both developer and user demand growing dramatically. Since May of 2020, the capacity used per block (a strong proxy for demand) has stabilized near 98%, meaning the network is functionally full. The dollar value settled per day has grown to a 30-day moving average of $9.15 billion USD, a 24x increase from one year ago.

The ecosystem of Ethereum applications is richer than ever before, driven by DeFi, NFTs, and a number of other use cases. Ethereum has also been a victim of its own success: its limited ability to support high throughput has, at various points, driven gas fees to unsustainable levels.

While there is little debate that scaling Ethereum is necessary to continue supporting the rapid growth of the network, this issue is sometimes framed as a competition between Ethereum 2.0, Layer 2 services, and “Ethereum killer” Layer 1s.

One lesson from internet history is that when you give developers a powerful new computing platform, they create applications at such a rapid rate that demand consistently outpaces supply. We believe the same will be true for Ethereum, and therefore that the answer to scaling is “all of the above,” including Ethereum 2.0, bridged Layer 1s, and Layer 2 solutions.

https://a16z.com/2021/02/24/investing-in-optimism/