Ava Labs Chief Business Officer: General L1 chains dominate the Web3 field and hinder innovation, application chains can provide solutions

Odaily News John Nahas, Chief Business Officer of Ava Labs, said that the Web3 industry has not yet fully entered the mainstream. He believes that general-purpose L1 blockchains (whose main focus is marketing tokens) dominate the field and lack sufficient innovation. Nahas believes that this is hindering the industry from reaching its full potential. Nahas claimed that specially built blockchains, or application chains, provide a solution, and the large-scale adoption of Web3 depends on the deployment and success of these specialized blockchains. In addition to solving specific problems, the success of general-purpose and specialized blockchains depends largely on the teams behind them. Regarding regulation, Nahas acknowledged that some people believe that it has a negative impact on Web3. However, he pointed out that clear regulations provide certainty for the market, developers, and companies operating in the field, so it is not entirely a bad thing for the industry. (Bitcoin.com)