The cryptocurrency community is divided over Stripe's decision to launch its own Layer-1 blockchain, with many questioning why the payment company does not develop directly on existing blockchain networks.

Previously, Stripe CEO Patrick Collison stated on Thursday via the X platform that "existing blockchains are not optimized for the rapid growth of stablecoins and broader cryptocurrencies on the Stripe payment platform." He also announced that the company will launch a new Layer-1 network called Tempo.

Joe Petrich, head of engineering at the NFT platform Courtyard, remarked, "No one wants another blockchain."

Petrich stated, "The issues you mentioned have already been addressed for those who insist on using blockchains, so there is no need for a new blockchain to 'fix' these problems."

Layer-1 blockchains focus on security and decentralization, while Layer-2 solutions concentrate on enhancing speed and scalability.

Collison noted that most blockchains cannot meet the transaction scale required by Stripe, with peak demands exceeding 10,000 transactions per second (TPS).

He compared this to Bitcoin (BTC) with about 5 transactions per second, Ethereum (ETH) with about 20 TPS, and emerging networks like Base (an Ethereum Layer-2 network) and Solana (SOL) reaching around 1,000 TPS.

Mert Mumtaz, CEO of Helius Labs and a staunch supporter of Solana, stated that this claim is "ridiculous on multiple levels," adding that "this is even far below Solana's limits."

According to Solana Explorer data, Solana's TPS at launch was 3,186, lending some credibility to Mumtaz's viewpoint.

However, some support this idea. Steve Milton, CEO of Web3 wallet provider Fintopia, stated, "Tempo builds the infrastructure for large-scale on-chain payments, which will change the industry landscape."

Milton said, "This is exactly the infrastructure our type of application needs, providing a faster, lower-cost, and seamless experience." Meanwhile, Max Segal, COO of Privy, remarked, "Tempo is performing well here."

Others questioned why Stripe did not choose to make Tempo a Layer-2 network.

Devansh Mehta from the Ethereum Foundation expressed, "I'm curious why you chose to build your own validator cluster instead of becoming an L2. Ensuring validator decentralization and diversity is better than outsourcing."

Cryptocurrency commentator Leo Lanza raised a similar question: "What is preventing Tempo from being developed as an Ethereum Layer-2?"

Lanza stated, "As an Ethereum Layer-2, Tempo could customize TPS and charge fees in fiat currency while leveraging Ethereum's network effects, security, interoperability, and lower costs."

Collison also mentioned that for real-world financial applications, pricing fees in familiar fiat currency is more valuable, but existing blockchains typically price in native tokens.

He added, "We hope Tempo will make it easier to bring more scenarios on-chain, such as payment acceptance, global payments, remittances, micropayments, tokenized deposits, and smart contract payments."

Related: Analyst: Dogecoin (DOGE) is expected to welcome its first ETF next week.

Original article: “Some cryptocurrency users are not optimistic about Stripe's new blockchain launch”

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