Ethereum News Weekly founder: L1 project Pearl is expected to surpass Bitcoin

November 9 - Evan Van Ness, founder of the Ethereum news weekly, recently said in an interview that he believes Pearl, an L1 project based on useful proof of work, is expected to surpass Bitcoin.

Van Ness stated that Pearl mines through matrix multiplication, the same computation used in AI model training and inference, and can be performed in parallel with inference at almost zero additional overhead. Bitcoin suffers from premature ossification and security budget issues, while Pearl turns originally "useless" mining into useful computation, creating a flywheel effect that reduces inference costs.