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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
Maybe it's just...
Bankless
The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
You know, the excitement of having, you know, working on an L1, right?
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
I think for a lot of people, you know, there's still this idea that, you know, it's easier to compete against, you know, Ethereum if you're an L1, not an L2.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
But I think that's ultimately maybe just ego.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And as Ethereum improves its finality, as the benefits of all of those network effects that are being created just become so obvious to everyone, I think Ethereum will just pull everyone in.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
I have just a lot of conviction that Ethereum will become the settlement layer of the whole internet.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
not just Web3.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And it'll take a while, but network effects are powerful and it's going to happen.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
Yeah.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
But, you know, on our end, for example, you know, we've been grappling with this finality question for a while.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And so now we're actually working with Espresso to add two-second finality back, you know, using the Espresso.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And so that's using Espresso economic guarantees, which obviously are nothing compared to Ethereum.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
You can touch Ethereum on that front.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
But for smaller transactions, you can have these guarantees.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And then if you really are moving a billion dollars, you can wait for Ethereum finality on Celo as well.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
Yeah, so for us, this is all about onboarding everyone into crypto.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
You know, we're not going to stop until Global Venmo is here and it's on Celo.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And to do that, we need to onboard everyone in the world.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
We can't just onboard, you know, crypto savvy or degens or, you know, people who, you know, are excited about, you know, what crypto is today.
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The Most Underrated Chain: Celo’s Surprising Traction Around the World | Marek Olszewski
And the only way we'll be able to onboard them is through incentives, right?