The market has severely underestimated the difficulty of building underlying security and network effects, which is why the notion of L2 decoupling from L1 has emerged, and why various FUD about ETH and L2 has appeared. For the leading L2s of Ethereum, the benefits are already substantial, and they will not easily start from scratch. If they really do so, the result would be: first, they would hand over the existing market to others; second, the cost of building their own security would be higher than utilizing Ethereum's existing security, and it would be difficult to achieve the same level of security; third, they still do not have enough application scale to make themselves indispensable. Instead, it is the second and third-tier L2s that may have this demand, but their market capitalization is not sufficient to support their relatively large security needs, and if they really do it, it will only become increasingly difficult, so they will likely give up, unless it is a last-ditch effort. The era of building one's own L1 has already passed. The real problem is not whether it is L1 or L2, but finding a narrative that can excite the market, or having real-scale user adoption. In other words, L2 will not and dare not decouple from L1 at the moment, L1 and L2 are in a symbiotic relationship, not a feudal or other relationship. Finally, if Ethereum's L2 extends its tentacles to other L2s (such as Bitcoin), this can be understood.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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