Ethereum ETF Approval Unlikely to Lead to Approval of Other Crypto ETFs: Exclusive Interview with LightLink CEO
LightLink, a Layer-2 blockchain built on Ethereum, recently announced the integration of its Hummingbird client with Celestia’s Mainnet. This milestone is expected to enhance scalability and reduce transaction fees for LightLink users, as detailed in the platform’s official blog post.
The startup successfully raised $6.2 million in funding during an extended seed round in April due to high demand from both institutional and individual investors. LightLink has formed a strategic partnership with Animoca Brands and reportedly processes around 115,000 daily transactions. Its native token LL was recently introduced through Fjord Foundry’s Liquidity Bootstrapping Pool (LBP).
In an exclusive interview with CryptoNews, Roy Hui, CEO & Co-founder of LightLink, emphasized the importance of gasless Ethereum Layer-2 solutions in driving Web3 adoption. He highlighted how gasless transactions improve user experience by simplifying onboarding processes and reducing complexities.
Hui explained that Layer-2 solutions offer enhanced throughput, faster execution, and lower costs leading to increased support for concurrent users and near-instant interactions. He also emphasized LightLink’s focus on devising strategies to attract more users to the ecosystem.
One of LightLink’s standout features is Gas abstraction, which introduces a unique transaction fee model allowing users to interact with smart contracts without the need to pay fees in ETH or other native tokens.
Regarding Ethereum, Hui described it as a “secure, permanent storage solution” and emphasized its role as the future of computations. He contrasted Ethereum with Bitcoin, stating that while Bitcoin serves as a store of value, Ethereum’s capabilities extend beyond as a global registry and storage solution.
The recent approval of spot Ether Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC) marks a significant milestone. Hui believes that Ethereum’s continuous experimentation across various industries positions it as a key player in shaping the future of gaming, finance, and digital assets.
With Ethereum’s strong fundamentals, market capitalization, and vast ecosystem, Hui envisions it as a long-term infrastructure solution without direct competitors in the crypto space. Ethereum’s approval for ETFs is not expected to pave the way for the approval of other crypto ETFs as each cryptocurrency has its unique characteristics and use cases.