Is Ethereum going to turn all altL1 into L2 and devour everything? 🫢
Well... in fact, these altL1 chains are already de facto L2s on Polkadot, or you can also call them Polkadot rollups.
Ethereum is also a L2 of Polkadot in terms of technical architecture.
Because it itself is a smart contract chain, it is inherently designed to host dapps, not rollups.
Gavin also mentioned this issue in a recent interview: "Ethereum was 'forced' to become a rollup hosting chain, while @Polkadot was born for this purpose!"
x.com/polkaworld_pro…
Although it is now forced to become a hosting rollup chain, just look at the results – all L2s are dividing its liquidity!
The reason why Ethereum's L2 extracts value from L1 is that Ethereum itself was not designed to be a pure rollup hosting platform; it is a smart contract platform!
And what you may not know is that Polkadot will launch its own contract chain, Polkadot Hub:
1. Fully compatible with Ethereum,
2. But based on PolkaVM, it has implemented RISC-V technology ahead of EVM.
In upgrading EVM to support RISC-V VM, Polkadot has already achieved it!
