Bitwise CIO Matt Hougan Challenges the 'Commodity Blockspace' Thesis

Google Cloud Confirms Layer One Blockchain Software Is In Private Testnet Phase

Google Cloud has confirmed that its L1 blockchain project, called Google Cloud Universal Ledger (GCUL), is currently in the private testnet phase. Rich Widmann, who leads Web3 strategy at Google, said GCUL is the result of years of research and development in distributed ledger technology. Wildmann confirmed that GCUL incorporates Python-based smart contracts. He added that the L1 blockchain technology is being built as a neutral solution that w…

Bitwise CIO Matt Hougan Challenges the 'Commodity Blockspace' Thesis

Ethereum controls roughly 60% of real-world asset ( RWA) tokenization today, but Bitwise CIO Matt Hougan questions whether layer one (L1) blockspace is truly the commodity many investors assume it to be. Bitwise CIO: We Don’t Yet Know What Happens When Crypto Scales to Trillions In a recent post on X, Matt Hougan challenged the […]

Are Layer 1 Blockchains Really Commoditized? Bitwise CIO Matt Hougan Weighs In

The idea that Layer 1 (L1) blockspace has become a commodity may be overstated, according to Bitwise Chief Investment Officer Matt Hougan. In a recent commentary, Hougan challenged the growing narrative within the crypto industry that blockchain infrastructure is interchangeable and driven solely by low fees and high throughput. If L1 blockspace were truly commoditized, Hougan argues, institutional capital and developer activity would be evenly …