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Coinbase Protocol Expert: When ETH is Seen as Global Economic Currency, L2s Make Perfect Sense

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By Carine W.Apr 01, 2025

Viktor Bunin highlights divergent perspectives on Ethereum's fundamental utility and Layer 2 scalability solutions.

Coinbase protocol expert Viktor Bunin has sparked discussion in the crypto community with a recent tweet analyzing the relationship between Ethereum's perceived purpose and the value proposition of Layer 2 (L2) scaling solutions.

In his tweet posted on March 29, 2025, Bunin (@ViktorBunin) presented two contrasting mental models for understanding Ethereum: "If your mental model of ETH is AWS credits then you're right, L2s make zero sense. However if your mental model of ETH is money that will power the global economy, L2s make perfect sense, because they use ETH as money."

The comparison draws attention to a key ideological divide in the Ethereum ecosystem. Those who view ETH primarily as a computational resource (similar to AWS credits) may question the need for L2 scaling solutions. In contrast, those who conceptualize ETH as future global monetary infrastructure can more readily appreciate the role of L2 networks in extending Ethereum's capabilities.

This perspective comes amid growing adoption of Layer 2 solutions designed to address Ethereum's scalability challenges while inheriting its security guarantees. Bunin's analysis provides a conceptual framework for evaluating these developments based on fundamental views about Ethereum's core value proposition.

The tweet garnered significant attention, accumulating over 72,400 views shortly after posting, indicating substantial interest in discussions around Ethereum's future direction and scaling strategy.

Coinbase ETH

Carine W.

A seeker of truth in crypto, blending writing, peace, and prayer to inspire a global audience.

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