John Nahas, the Chief Business Officer of Ava Labs, stated that the dominance of general-purpose Layer 1 (L1) chains in the Web3 space hinders innovation, and application-specific chains can provide a solution. He believes that general L1 blockchains lack innovation, which obstructs the development of the Web3 industry. Nahas asserts that purpose-built blockchains or application chains are the solution, and the success of Web3 depends on the deployment and success of these specialized blockchains. He also pointed out that clear regulations provide certainty for the Web3 industry.

Odaily Planet Daily reports that John Nahas, Chief Business Officer of Ava Labs, stated that the Web3 industry has not fully entered the mainstream yet. He believes that general-purpose L1 blockchains, which primarily focus on marketing tokens, dominate the space and lack sufficient innovation. Nahas argues that this hinders the industry from reaching its full potential.

Nahas suggests that purpose-built blockchains or application-specific chains offer a solution, and the mass adoption of Web3 depends on the deployment and success of these specialized blockchains. Beyond addressing specific issues, the success of both general and specialized blockchains largely depends on the teams behind them.

Regarding regulation, Nahas acknowledged that some believe 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 space, so this is not entirely a bad thing for the industry.

Ava Labs Chief Business Officer: General-purpose L1 chains hinder innovation in the Web3 space, while application-specific chains can provide solutions.