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Corporate blockchains have never looked so good. 

In rapid succession, news broke that both payments giant Stripe and stablecoin darling Circle would be building their own layer-1 blockchains. While major companies coming onchain theoretically poses a competitive threat to all existing L1s, there may be reason to believe the news is particularly troublesome for Solana’s vision that “everything can fit in one computer.”

Stripe and Circle’s chains — named Tempo and Arc, respectively — are set to be EVM-based, which some Ethereum boosters were quick to chalk up as bullish for…

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