Some crypto-goers don’t seem to fancy Stripe’s new blockchain

The crypto assemblage has been divided implicit Stripe’s determination to motorboat its ain layer-1 blockchain, with galore asking wherefore the outgo steadfast didn’t conscionable physique connected apical of an already existing blockchain network.

It came aft Stripe CEO Patrick Collison said successful an X station connected Thursday that “existing blockchains are not optimized” to grip the increasing usage of stablecoins, and crypto much broadly, crossed the Stripe outgo platform, portion announcing the firm’s caller layer-1 network, Tempo.

NFT level Courtyard’s caput of engineering, Joe Petrich, said, “No 1 wants different chain.”

“The problems you notation are already solved for radical who are dormant acceptable connected utilizing blockchains, truthful there’s nary request for yet different concatenation ‘fixing’ these issues,” Petrich said.

Stripe CEO is incorrect astir Solana’s TPS, execs say 

Layer-1 blockchains prioritize information and decentralization, portion layer-2 solutions are designed to maximize velocity and scalability.

Collison argued that astir blockchains can’t grip the standard of transactions that Stripe requires, which is much than 10,000 transactions per 2nd (TPS) astatine its peak. 

Source: Jason Zhao

He compared that with Bitcoin (BTC) processing astir 5 TPS, Ethereum astir 20 TPS, and newer networks similar Base and Solana (SOL) scope astir 1,000 TPS. 

Helius Labs CEO and Solana maxi Mert Mumtaz said it was “hilariously incorrect connected respective dimensions” and “that’s not adjacent adjacent to Solana's limit.”

Mumtaz whitethorn person a point, arsenic Solana Explorer information shows 3,186 TPS astatine the clip of publication.

Not each were against the idea, however. Web3 wallet supplier Fintopia CEO Steve Milton said, “Tempo gathering the rails for high-scale onchain payments is simply a game-changer.”

Source: avious

“It’s precisely the infrastructure apps similar ours request to supply an adjacent faster, cheaper, and seamless experience,” Milton said. Meanwhile, Privy main operations serviceman Max Segal said, “Tempo looking bully here.”

Others questioned wherefore Stripe didn’t opt for Tempo to go a layer-2 network. 

Ethereum L2 could inactive supply the benefits, says commentator

“Curious to cognize wherefore you decided to physique your ain validator acceptable alternatively of becoming an L2. Ensuring your validators are decentralized and divers is amended to outsourced,” Ethereum Foundation’s Devansh Mehta said.

Crypto commentator Leo Lanza asked a akin question: “What prevents Tempo from being built retired arsenic an Ethereum L2?”

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“As an Ethereum furniture 2, Tempo could physique customized TPS and fees paid successful fiat portion inactive taking vantage of Ethereum's web effects, security, interoperability, and little costs,” Lanza said.

Collison besides argued that it’s much invaluable for real-world fiscal applications for fees to beryllium denominated successful a fiat currency that makes consciousness to the user, but existing blockchains denominate their fees successful blockchain-specific tokens.

“We anticipation that Tempo makes it easier for things similar outgo acceptance, planetary payouts, remittances, microtransactions, tokenized deposits, agentic payments, and more, to determination onchain,” helium added.

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