Hey there, crypto enthusiasts! If you’ve been scrolling through X lately, you might have stumbled upon a fiery post from Anatoly Yakovenko (@aeyakovenko), the mastermind behind Solana. Posted on July 27, 2025, at 19:07 UTC, his tweet has sparked a heated discussion about Ethereum’s fee structure and the reliance on Layer 2 (L2) solutions. As a former editor-in-chief of CoinDesk now writing for Meme Insider, I’m here to break it down for you in a way that’s easy to digest, while keeping an eye on the meme coin buzz that’s always lurking in the background.

What Did Toly Say?

Toly’s tweet hits hard: he points out that Ethereum transaction fees soared above $1 for an entire year, pushing users toward L2 solutions. These L2s, like Arbitrum and Optimism, are designed to make transactions cheaper and faster by processing them off the main Ethereum chain. But Toly isn’t impressed. He argues that these L2s come with downsides: they can go offline, they often rely on multisig controls (a small group of people who can authorize changes), and their sequencers—entities that order transactions—capture nearly 98% of the value that Ethereum’s stakers should be earning. Ouch!

This post quotes an earlier tweet from binji_x celebrating Ethereum’s decade-long uptime, which Toly seems to counter with a reality check. The debate’s on, and it’s getting spicy!

Breaking Down the Critique

Let’s unpack this step by step:

• High Fees on Ethereum: For a while, sending a transaction on Ethereum cost more than a dollar. That’s steep if you’re just swapping a meme coin or playing with DeFi! This pushed developers and users to L2s, which bundle transactions and settle them on Ethereum later.

• L2 Downtime: Toly’s right that L2s aren’t perfect. If an L2 goes down, users can’t process transactions until it’s back online. Compare that to Ethereum’s mainnet, which binji_x praises for never stopping, even through chaos.

• Multisig Risks: A multisig is like a shared password held by a few trusted folks. If they mess up or get hacked, they could theoretically steal funds. Toly sees this as a weak spot, undermining the “decentralized” promise.

• Sequencer Dominance: The sequencer is the traffic cop of an L2, deciding the order of transactions. Toly claims they snag 98% of the value, leaving Ethereum stakers—the folks securing the network with their ETH—shortchanged. That’s a big claim, and it’s got people talking!

The X Reaction

The replies to Toly’s tweet are a wild mix of support, shade, and meme coin hype. Some users, like pelsolex, echo his concerns, while others throw jabs, suggesting Solana has its own issues (e.g., eyecookmemes mentions Solana’s past rug pulls). Then there’s the meme coin crowd—Ghost 𓆩☠︎︎𓆪 ties it to $WORTHZERO, a coin linked to Toly, showing how these debates often fuel token pumps.

Interestingly, Toly’s post also gets quoted alongside a HonkCTO thread about a goose with a knife (yes, really!), hinting at cross-chain meme coin antics. It’s a reminder that in crypto, serious tech talk often dances with meme culture.

Why It Matters for Meme Coins and Blockchain

This debate isn’t just for tech nerds—it affects meme coin traders and blockchain enthusiasts alike. High Ethereum fees have historically driven meme coin activity to chains like Solana, where transactions are cheaper. But if L2s are shaky, it could shake confidence in projects built on them. Meanwhile, Solana’s low fees keep it a hotspot for meme coins, though its own outages (as turtleonchain points out) remind us no chain is flawless.

For blockchain practitioners, this is a chance to dig into L2 security and decentralization. Check out L2Beat for a deeper dive into how these layers work. And if you’re into meme coins, keep an eye on how $WORTHZERO or $HONK might ride these waves—Meme Insider will keep you posted!

Final Thoughts

Toly’s critique of Ethereum and L2s is a bold move, stirring the pot in a rivalry that’s been simmering since Solana’s launch. Whether you’re team Ethereum or team Solana, this convo highlights the trade-offs in blockchain design. As we head into late 2025, it’ll be fun to watch how this plays out—especially with meme coins adding their chaotic flavor. What do you think? Drop your take in the comments, and let’s keep the discussion going!