Standard Chartered: Ethereum is in a "mid-life crisis," performing poorly in technological upgrades to attract audiences

ChainCatcher news, according to the Financial Times in the UK, Standard Chartered's head of digital asset research, Geoff Kendrick, stated that Ethereum is in a "mid-life crisis," performing poorly in a series of technological upgrades aimed at attracting a broader audience.

Ethereum developers have been trying to improve network speed and efficiency by offloading transaction processing to third parties, which has redirected fees to these third-party networks known as Layer 2, rather than to Ethereum developers. Kendrick believes this decision "freely forfeits value," adding that "Ethereum has essentially commoditized itself."