Ethereum's Ambition to 'Incorporate' L2: Can Other Public Chains Keep Up?
Nick Tomaino, founder of 1confirmation, recently pointed out: Ethereum, by taking the lead in promoting the L2 architecture, is no longer just a chain but has transformed into a 'network of networks'.
Top L2s such as Base, Arbitrum, OP, Unichain, World Chain, Starknet, and ZK Sync are not only shining on their own but also feeding back into ETH: using ETH to pay transaction fees, burning ETH, and using ETH for asset settlement and value anchoring.
This means that Ethereum not only grants L2 'autonomy' but also shares the security and brand effect of L1, achieving dual scalability in technology and economy.
While other L1 public chains each have their highlights, they have clearly fallen behind in terms of ecosystem aggregation, network effects, and developer migration.
L2 is not bypassing Ethereum; rather, it is enlarging and strengthening the 'ETH universe'.
