Why Layer Ones Beat Everything Else Over The Long Term

Pal’s core argument is that layer one blockchains are the infrastructure layer of the global digital economy, and infrastructure concentrates into three to five dominant players just like operating systems, cloud computing, and every major network before them. 

Unlike Bitcoin (CRYPTO: BTC), which has one job as a global savings asset, smart contract layer ones can scale infinitely as more economic activity moves on-chain.

“If you were to pull the plug on Ethereum today, how much economic value do you destroy?” Pal asked on the When Shift Happens podcast. 

“Every layer two, all of DeFi, all the real-world assets, all of NFTs,…

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