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1. One chain, Ethereum L1, always has limited capacity.
2. Therefore, real global scalability is achieved by integrating multiple vertical chains or L2 solutions.
3. Vitalik's L2-centric strategy outlined in 2020 has shifted from development to reality (currently around 10 million monthly active users on L2).
4. From a developer's perspective, deploying L2 equals deploying L1 smart contracts.
5. Result: a surge in L2, intensifying competition among them.
6. The most successful L2 sees itself as a startup rather than a "scalability-improving technical solution."
7. As startups, they seek (i) growth, and improvements in (ii) monetization and (iii) cost savings.
8. These three goals lead to the "categorization pricing of the L2 stack," with new teams providing services to L2 at prices about 100-1000 times cheaper than Ethereum L1 (which also accelerates Ethereum L1 development).
9. From a business perspective, L2 has two types: general-purpose and application-specific. Similarly, from a technical perspective, L2 has two types: optimistic and ZK.
10. In both cases, L2 architectures are just an "extension" of the core team's initial product vision.
11. Two visions: 1. General-purpose L2: "Building a hub for new assets on the internet." 2. Application-specific L2: "Building the best user experience for XYZ use case."
12. Like many other markets, the above categories often exhibit power laws, where some successful L2 solutions capture the majority of users' attention and wallet share.
Perhaps 12 months later, we will have unique insights into Ethereum L3 and L4.A |
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Post time 28-2-2024 10:48:28