Mainnet of Ethereum expected to transition away from being a primary platform for daily transactions, says developer.
According to Ethereum core developer Eric Conner, the network’s mainnet will not be the preferred platform for daily token transactions in the long run. In a recent discussion on X, Conner explained the future role of Ethereum’s mainnet and addressed concerns about transaction costs. He stressed the importance of “liveness” in Ethereum, which ensures uninterrupted transactions and builds trust within the ecosystem.
Conner acknowledged the high transaction fees on Ethereum and suggested that while the mainnet may not be ideal for daily transactions, it will continue to serve as the foundation for decentralized applications and settlement layers. He also highlighted the potential of layer-2 solutions to mitigate high fees and expressed confidence that these solutions are already effectively addressing the issue.
Regarding user experience concerns with layer-2 solutions, Conner remained optimistic and believed that the challenges can be overcome. He noted significant improvements in the user experience of layer-2 solutions over the past two years and predicted that wallets would eventually streamline processes, providing a more seamless and user-friendly experience.
Currently, the average transaction fee on Ethereum is $9, which is lower than the $50 recorded in 2021 but still poses a hurdle for network activity. In comparison, executing a token swap on the mainnet costs approximately $6, while it costs only $0.6 on Loopring and $0.18 on Optimism, according to L2Fees data. This highlights the cost-effectiveness of layer-2 solutions for users who are conscious of fees.
In conclusion, Ethereum’s mainnet will continue to play a crucial role in the ecosystem, but it may not be the preferred platform for daily token transactions in the long term. Layer-2 solutions offer potential solutions to high transaction fees, and despite user experience challenges, improvements are expected in the future.
