Scaling the EVM requires an L1, not an L2

Opinion by: Jay Jog, co-founder of Sei Labs 

When CryptoKitties crashed the Ethereum network in 2017, the industry learned a hard lesson about blockchain scalability. Today, with over $100 billion locked in decentralized finance (DeFi) and millions of non-fungible tokens (NFTs) being traded, that lesson is more relevant than ever. The Ethereum Virtual Machine (EVM) — the engine that powers this activity — is reaching its limits.

So far, the crypto community’s answer has been layer 2 solutions ...