Devs introduce Ethereum R1 layer-2 scaling solution
A group of independent developers has launched Ethereum R1, a layer-2 scaling solution for the Ethereum network, which operates without a native token. The project is funded solely through donations, lacking venture capital, pre-mined tokens, or governance tokens. The developers emphasize that general-purpose layer-2s should be commodities, promoting decentralization and censorship resistance. Concerns have arisen within the Ethereum community regarding the direction of existing layer-2 solutions, which some perceive as diverging from the base layer's interests. Following Ethereum's Dencun upgrade in March 2024, transaction fees on the base layer fell to a five-year low due to decreased demand, leading to a 99% revenue drop by September. Critics argue this incentivizes layer-2 growth at the base layer's expense, while proponents assert that multiple layer-2 networks enhance user choice compared to monolithic blockchains.
