Mark Smargon, CEO of Fuse, argues that the biggest problem layer-2 networks have to deal with is the current state of bridging infrastructure.
As 2024 draws near, Hashing It Out is focusing on narratives that are tipped to be at the heart of the cryptocurrency conversation in the new year. In Episode 41, Mark Smargon, CEO of Fuse — a public blockchain ecosystem for Web3 payments — explains how layer-2 networks have become the center of attention in the cryptocurrency space.
Smargon highlights how far layer 2s have come, their role in adoption and the increase in general activity, while forecasting trends in the sector, such as a greater focus on zero-knowledge (ZK) technology.
He breaks down the origins of the idea of layer-2 networks, explaining that it all started with the arduous task of trying to solve the scaling problems of major layer-1 blockchains. He adds that layer-2 networks solve scalability issues that can’t be fixed by simply doubling the network’s capacity. They have become more prevalent in the Web3 space because of the affordable nature of transactions, which makes them difficult for users and developers to ignore.
