Some crypto-goers don’t seem to fancy Stripe’s new blockchain

Stripe CEO Patrick Collison cited Solana’s TPS to justify a new layer 1, which prompted Helius Labs’ CEO to call his claim “wrong on several dimensions.”

The crypto community has been divided over Stripe’s decision to launch its own layer-1 blockchain, with many asking why the payment firm didn’t just build on top of an already existing blockchain network.

It came after Stripe CEO Patrick Collison said in an X post on Thursday that “existing blockchains are not optimized” to handle the growing use of stablecoins, and crypto more broadly, across the Stripe payment platform, while announcing the firm’s new layer-1 network, Tempo.

NFT platform Courtyard’s head of engineering, Joe Petrich, said, “No one wants another chain.”

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