The Milk Road Show Why Ethereum & Solana Are Not Built for Mass Adoption
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Mar 21, 2025 Adeniyi, co-founder of Mysten Labs and the Sui blockchain, dives into the intricate world of crypto and mass adoption hurdles. He critiques Ethereum and Solana, suggesting their architectures might hinder broader use. The discussion also touches on the evolution of blockchain, the role of decentralized trading platforms, and how gaming could drive Web3 adoption. Adeniyi emphasizes the need for genuine user engagement over mere wallet counts and shares insights on innovative tech like the Move programming language to enhance security and onboarding.
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The Libra Story
- Facebook's Libra aimed to create a global, low-cost payment system like email.
- Regulatory hurdles and trust concerns ultimately prevented Libra's launch.
Measuring True Adoption
- True crypto adoption will come from daily active usage, not just speculative holding.
- Focus on utility, not just market cap or wallet addresses, to gauge real impact.
L1 Landscape and Future
- There are too many crypto L1s and not enough practical applications being built.
- Most L1s will likely fail due to a lack of differentiated functionality.