“The Ethereum chain, because of its fundamentals, security, the level of decentralization and the community and the trust that it has created as a chain over time, it is just beyond the reach of any other chain”, he claimed.
“It may take 10 years from now, but I don’t see a world where multiple layer-1 protocols exist.”
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Nailwal believes that Ethereum will eventually become “the ultimate settlement layer” for the DeFi space. Polygon will play a major role in ensuring the long-term success of Ethereum through its scalability solution. Despite increasing competition from other layer-1 protocols, such as Solana, Nailwal believes it is still too early to talk about an “Ethereum killer.”
According to the Polygon co-founder, Etheruem will eventually prove superior even to Bitcoin because it has a higher number of use cases. Nailwal believes that if Bitcoin doesn’t expand its utility beyond the mere monetary system function, it may not survive in the long term as a layer-1 protocol.