Justin Bons, founder of Cyber Capital, a prominent cryptocurrency fund in Europe, has criticized Ethereum's current state, claiming it is struggling while Layer 2 solutions thrive. Bons argues that Ethereum's fee revenue is declining due to network limitations, allowing L2 solutions to flourish. He believes that L2s are benefiting at Ethereum's expense, leading to a parasitic relationship. Bons also criticizes Ethereum's governance model for centralization and warns of potential value collapse. In response, Pengu Aaron suggests L2s must contribute to Ethereum to avoid this scenario. Bons highlights the challenges of decentralized systems, contrasting it with historical conflicts in the United States. He emphasizes the lack of enforcement mechanisms in cryptocurrency. The ongoing debate raises concerns about Ethereum's future and the impact of L2 solutions on its ecosystem. Read more AI-generated news on: https://app.chaingpt.org/news