In the last cycle, Ethereum's strategy was to decentralize and empower L2s, with the goal of achieving low Gas, high TPS, and equivalent performance to Ethereum, while seizing TVL, developers, and active users from the EVM-compatible L1 ecosystem.

This strategy has overall been successful, with Arbitrum and Base aggressively absorbing the ecosystem resources of Avalanche, Polygon, and Fantom, turning the once glorious EVM-compatible L1 into a "fallen phoenix" that is now detested.

However, what caught the Ethereum community off guard was the sudden emergence of a strong competitor - Solana.

Ethereum's core business model is selling block space. Currently, the top 3 consumption demands for block space are stablecoin transfers, capturing liquidity of long-tail assets, Rollup L2 verification, and DA fees.

Solana has maximized its extremely high TPS, fast finality, and parallel transaction processing capabilities to achieve product-market fit in the niche scenario of capturing liquidity for long-tail assets (various meme coins, shitcoins), and has begun to reverse-siphon resources from Ethereum's ecosystem through cross-chain protocols such as wormhole and layerzero. Faced with Solana's strong offensive in this niche scenario, many L2s in the Ethereum ecosystem can only compete with Base, which relies on Coinbase's background.

After successfully capturing market share for capturing liquidity of long-tail assets from Ethereum, Solana has begun to aggressively promote stablecoin payments and PayFi based on Solana, further squeezing Ethereum's demand for block space.

This is why Vitalik recently promoted the addition of Celo to the Ethereum L2 family on Twitter. Ethereum needs stablecoin protocols and PayFi with Ethereum characteristics to compete head-on with Solana.

Meanwhile, Solana has also launched its new primitives Zk Compress and Network Extension, and has initiated competition with Ethereum in the scene of parallel expansion (L2). Faced with the fierce competitive onslaught from the barbarian Solana, Ethereum's response seems a bit sluggish due to its decentralized and loose organizational structure.

However, in the face of environmental pressure, self-organization will find a way out and adapt to the new environment. After Vitalik's graduation, he published the "Making Ethereum Clear and Distinct" manifesto, strengthening centralization and reducing the power of the feudal lords, requiring 138 L2s to align with Ethereum in the following 4 aspects:

• Open source level. The core code must be open source like Ethereum, and the ugly behavior of mutual plagiarism of ZK algorithms and registering ZK as intellectual property must not happen again.
• Adoption of open standards. It must achieve complete interoperability with Ethereum, compatible with existing standards, and the new standards brought by the Pectra upgrade, such as account abstraction, cross-L2 transfers, L1 and L2 light client proofs, and address format standards.
• Decentralization and security. L2s must discard training wheels and transition from stage0 to stage1, making Ethereum a true settlement layer rather than continuing to rely on introducing social consensus (multisig).
• Positive sum game. L2s joining Ethereum must strengthen the network effect of the ecosystem, rather than internally competing for resources. L2s must use ETH as the native Gas token.

Ethereum, which adheres to the open, inclusive, decentralized parallel expansion route, and Solana, which adheres to the higher, faster, and stronger vertical expansion route, will attack and learn from each other in the fierce competition in the block space market, ultimately bringing us the moment of Web3's widespread adoption in the GPT3.5 era.

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