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

Evan Van Ness, the founder of the Ethereum News Weekly, recently stated in an interview that he believes the L1 project Pearl, based on useful proof of work, has the potential to surpass Bitcoin. Van Ness mentioned that Pearl mines through matrix multiplication, using the same computation as AI model training and inference, and can perform this in parallel with inference at almost zero additional cost.

Van Ness also pointed out that Bitcoin has issues with premature solidification and security budget, while Pearl transforms originally useless mining into useful computation, creating a flywheel effect that reduces inference costs.