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Coinbase CEO Brian Armstrong: Ethereum’s Layer-2 Solutions Gaining Edge Over Bitcoin’s Lightning Network in Adoption Battle

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Jay Solano

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1 min
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Author

Jay Solano

Tags

Category

News - Archive

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

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Coinbase CEO Brian Armstrong claims Ethereum (ETH) scaling solutions are more popular than Bitcoin’s (BTC) Lightning Network.

Polygon (MATIC), Optimism (OP), and Arbitrum (ARB) are popular Ethereum scaling options, according to Armstrong in a recent earnings call.

“We’ve been taking a fresh look at it [Lightning Network], and there’s been a number of really great teams from different companies working on open source solutions and some proprietary ones to help advance the state of technology there. I think the Layer-2 solutions on Ethereum, such Polygon and Optimism and Arbitrum, Base [Coinbase’s layer 2 network built on Ethereum] is built on Optimism, have garnered more adoption.”

The Coinbase CEO believes user-friendly scaling solutions can boost adoption.

“Usability issues also contribute.

The common user doesn’t want to learn how to bridge from Layer 1 to Layer 2 to send their payment. They want to buy something that “works.”

Coinbase can assist make this seamless in the background.

If someone pays for something online, a friend, or a transfer, it should negotiate—almost conduct a handshake underneath—and say, OK, what types of cryptocurrencies on what chains are this recipient receiving, and which ones do I have? It would bridge or convert in real time beneath. Thus, you would observe the amount of dollars or whatever traveling over the wire and arriving in one second with $0.01.

Layer 2 and such don’t matter. That’s our goal…”