L2 and Ethereum thrive together, requiring innovation and collaboration to drive the development of the crypto ecosystem forward.

Author: @BanklessHQ

Translation: Blockchain in Plain Language

Currently, the market sentiment is low, and critics quickly point out that Ethereum (ETH) has underperformed compared to Solana (SOL), attributing this mainly to the user loss caused by the dominance of L2 (Layer 2) technology.

This viewpoint has sparked a crucial discussion: Is L2 equivalent to Ethereum?

@arjunnchand has conducted an in-depth analysis on this…

1. Symbiosis or Division?

L2 has always been an important part of Ethereum's roadmap, with Rollup at its core. From the beginning, they were envisioned as extensions of Ethereum (both technically and culturally), aimed at expanding its capabilities and attracting a wider user base.

Fundamentally, L2 is closely connected to Ethereum. They share Ethereum's DNA—relying on ETH as currency, benefiting from Ethereum's security, and using it for data storage and settlement. It's like a startup utilizing the infrastructure and brand awareness of its parent company, mutually beneficial.

The symbiotic relationship between L2 and Ethereum cannot be ignored. L2 thrives on Ethereum's infrastructure and security, while Ethereum benefits from increased activity and ETH demand, making it a better store of value.

By providing lower fees and faster transaction speeds, L2 makes it easier for developers to build various types of applications. Look at the explosive growth of memecoins on Base, or the rise of SocialFi platforms like Farcaster, creating new markets for users.

Furthermore, L2 is becoming a vital hub for DeFi activities, with ETH assets playing a core role in this ecosystem. Look at the data: @arbitrum, @Optimism, @base—these chains are primarily related to ETH assets.

2. User Grab?

However, a major argument against Ethereum's Rollup-centric expansion approach is that L2 may not continue to rely on Ethereum. Right now, L2 and Ethereum seem like a happy family. But what if L2s build their own empires, completely independent of Ethereum? No longer relying on Ethereum's security, not using ETH as fuel, and not even needing Ethereum's block space.

This concern about "L2 moving towards independence" is valid. Technically, L2 can build an independent ecosystem with its own validators, owning an entire modular blockchain stack. So, does this mean there will be a chaotic split between L2 and Ethereum in the future? Not necessarily.

Creating a new ecosystem or launching another L1 blockchain is a complex and resource-intensive task. Establishing a validator set is a significant undertaking, and building a new L1 is likely to encounter the same scaling challenges that Ethereum currently faces. If L2 intends to go this route, they may do so from the outset.

3. Covert Strategy?

On the contrary, developers of L2 are playing a different game. Their primary focus is on scaling transaction volume, attracting developers, incentivizing them to build applications for different use cases, and guiding new users into the crypto space, while Ethereum is responsible for security and decentralization issues.

But this does not mean that the formation of the L2 ecosystem is without foreseeable issues. It's a strange paradox: on one hand, the proliferation of L2 proves the success of the Rollup-centric roadmap; on the other hand, it may also be the root of division.

We all agree that there may be a slight oversaturation of L2. Too many imitators, insufficient differentiation. It's like a thousand startups vying for the same market, promising the same things. This is unhealthy.

What we need are significant L2s. Those that offer unique features and stand out. Security, application diversity, market entry strategies—these areas require genuine innovation.

Let's not forget the bigger picture. As Ethereum extends through these L2s, we need to ensure that it still remains Ethereum. We need to avoid the trap of division and allow everyone to govern themselves.

L2 needs seamless connections, and teams are rolling out technical stacks to develop a unified chain network, sharing resources, and providing users with a smoother and faster experience—such as @SuperchainEco, @0xPolygon's AggLayer, @zksync's Elastic Chain, and Arbitrum's Orbit Chains, all of which are promising initiatives in this direction.

But we must be wary of "echo chambers"; these chains should not become isolated universes. A healthy L2 ecosystem is about collaboration between chains, not isolation. We need bridges, not moats.

We need cooperation, communication, education, incentives, and the construction of shared infrastructure and standards to facilitate seamless connections between L2s. Only then can we truly win together.

4. Conclusion

It can be argued that L2 is not Ethereum, and it can even be argued that L2 is not an extension of Ethereum, but what cannot be denied is that L2 does enhance the utility of Ethereum and ETH.

The "L2 vs. Ethereum" debate is a false dichotomy; this is not a zero-sum game. Ultimately, Ethereum and L2 are mutually developing. Let's build a future of mutual prosperity for Ethereum and L2, driving the crypto ecosystem forward together.

Original article link: https://www.hellobtc.com/kp/du/09/5408.html

Source: https://x.com/BanklessHQ/status/1833921343890346353

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