Ethereum's growth narrative is shifting from "scaling" to the spillover and integration of the "application layer." Its development has moved from the infrastructure phase into a period of application explosion and ecosystem reshaping, with a trillion-dollar "second curve" now taking form. Switching Growth Engines: As Layer-2 (L2) scaling solutions mature, Ethereum has largely addressed its performance issues. However, it now faces competition from public chains like Solana and the entry of t...

Ethereum's growth narrative is shifting from "scaling" to the spillover and integration of the "application layer." Its development has moved from the infrastructure phase into a period of application explosion and ecosystem reshaping, with a trillion-dollar "second curve" now taking form. Switching Growth Engines: As Layer-2 (L2) scaling solutions mature, Ethereum has largely addressed its performance issues. However, it now faces competition from public chains like Solana and the entry of t...