> I'd rather go with Polygon or Arbitrum for now since it's fast, and wait until zkEVM like zkSync is out.
I don't think the local supermarket would be pleased to hear that if they were going to adopt Ethereum for shoppers to pay for their groceries, they would need to approve + switch to layers like Polygon, Arbitrum just to reduce the already high fees on ETH. Even if they did, it's still very expensive and not very fast either.
Perhaps some will tell them to use contraptions like zkSync, StarkNet etc, which are experimental and not ready to be used by 'everyone'. Therefore is not a mature solution to use right now.
Looking at which cryptocurrency is suitable today for lots of users to make fast, cheap and efficient payments for their groceries in the supermarket, it is clearly not Ethereum. There are better alternatives out there that are more useable and best suited for this; even Solana qualifies for this.
This summarizes my viewpoint on ETH quite well. I think it's a really technologically sick platform that has a lot of potential, and I do believe in the future when these scalability solutions are in place and have mass adoption, then the ecosystem really can be excellent. However, today, it's not there, and I cannot recommend using base ETH for anything other than if you are a large corporation or generally wealthy and want to capitalize on the large amount of liquidity in the ecosystem compared to others.
ETH, as a base layer, is financially impractical. The native L2 solution in Arbitrum is also too expensive, I believe it's like a quarter of the cost? That is still absolutely unacceptable. Also I don't have any faith in advertised timelines or scalability solutions until they are in place, I saw slides and discussions around sharding, layering, and off-chain computation solutions like Truebit back in 2017. Fast forward to today and the system is still unusably inefficient, so yeah, I'll believe it when I see it.
I'm fairly certain that the majority of holders in ETH are treating it purely as a stock that only goes up, never moves their ETH off of the exchange (or even better it's not able to move off as it's a closed system like Robinhood), and actually are not using the ecosystem. If they were, then the average person would quickly realize how absurd it is to burn through their ETH for simple transactions.
I truly hope that the scalability solutions in development now pan out, because it will never succeed long term imo if they cannot solve this. If the scalability solution ETH proposes is simply use different chains, I'll do that, and they won't be in your ecosystem.
I don't think the local supermarket would be pleased to hear that if they were going to adopt Ethereum for shoppers to pay for their groceries, they would need to approve + switch to layers like Polygon, Arbitrum just to reduce the already high fees on ETH. Even if they did, it's still very expensive and not very fast either.
Perhaps some will tell them to use contraptions like zkSync, StarkNet etc, which are experimental and not ready to be used by 'everyone'. Therefore is not a mature solution to use right now.
Looking at which cryptocurrency is suitable today for lots of users to make fast, cheap and efficient payments for their groceries in the supermarket, it is clearly not Ethereum. There are better alternatives out there that are more useable and best suited for this; even Solana qualifies for this.
After all, everyone needs to eat.