In a Thursday speech, U.S. Securities and Exchange Commission (SEC) chairman Paul S. Atkins announced “Project Crypto,” an initiative to modernize the country’s securities rules and regulations to move financial markets on-chain.
“Under my leadership, the SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant,” he said at an America First Policy Institute event in Washington D.C. His plan includes measures to reshore crypto businesses that have left the country and to ensure that “archaic rules and regulations do not smother innovation and entrepreneurship in America.”
As of this writing, Ethereum is handling 21.1 transactions per second. Bitcoin is handling 4.9 transactions per second. So purely in layer-1 transactions per second Ethereum’s got 4.3 times the capacity of Bitcoin.
Some of those Ethereum transactions are for running layer-2s, as you mention that greatly expands Ethereum’s capacity. Ethereum is specifically designed to be able to handle layer-2s well, it has features that were added to make them easier to scale. Bitcoin, on the other hand, was never designed for layer-2s and what it does have are hacked-together bodges like Lightning that are going nowhere.
What “job” does Bitcoin do that Ethereum can’t? And before you say “digital gold”, there are literal gold-backed stabletokens on Ethereum if that’s what suits your fancy.
A lot of bitcoin transactions are opening lightning channels so second layer is working there too
The comment you’re responding to linked to a page giving statistics about the Lightning network. The number of channels peaked in 2022 and has been going down ever since then.
Number of channels is decreasing, but the money in each channel increased. In BTC terms the money decreased, but in real terms the money increased.
Real terms being 2022 dollar value