Layer 2 解決方案：在喧鬧的市場中將黃金與垃圾分離

Layer 2 Solutions: Assessing Value and Avoiding 'Garbage' Investments Amidst Market Noise

第 2 層解決方案：在市場噪音中評估價值並避免「垃圾」投資

Emin Gün Sirer, the founder and CEO of Ava Labs, has raised concerns over the proliferation of subpar layer 2 (L2) solutions, drawing parallels to the catastrophic collapse of FTX. In a recent interview with Platform X, Sirer cautioned investors against indulging in "garbage" projects that lack substance.

Ava Labs 的創始人兼執行長 Emin Gün Sirer 對低於標準的第 2 層 (L2) 解決方案的擴散表示擔憂，這與 FTX 的災難性崩潰相似。在最近接受 Platform X 採訪時，Sirer 警告投資者不要沉迷於缺乏實質內容的「垃圾」項目。

Ignoring Red Flags Poses Risks

忽視危險訊號會帶來風險

Sirer lamented the crypto community's penchant for ignoring warning signs, particularly in regard to individuals who initially appear successful. He emphasized that the upcoming market cycles are likely to witness an uptick in predatory behavior and rampant noise. The ease with which low-quality L2 solutions can be launched has further exacerbated this concerning trend.

Sirer 對加密貨幣社群忽視警訊的傾向感到遺憾，特別是對於那些最初看似成功的個人。他強調，即將到來的市場週期可能會見證掠奪性行為和猖獗噪音的增加。低品質 L2 解決方案的輕易推出進一步加劇了這一令人擔憂的趨勢。

Gaps Between Marketing Hype and Technical Reality

行銷炒作與科技現實之間的差距

Sirer highlighted specific concerns related to the disconnect between marketing claims and technical capabilities of certain L2 projects. He underscored the prevalence of centralized sequencers within these projects, which lack the proper anti-fraud measures.

Sirer 強調了與某些 L2 項目的營銷主張和技術能力之間脫節相關的具體擔憂。他強調這些項目中普遍存在集中定序儀，缺乏適當的反詐欺措施。

Additionally, Sirer criticized L2 solutions that conduct token sales solely for fundraising purposes without offering genuine utility within their networks, suggesting a lack of intrinsic value or innovation. He also cautioned against token sales conducted prematurely by project founders, as this could signal a lack of confidence in long-term sustainability.

此外，Sirer 批評 L2 解決方案僅出於籌款目的進行代幣銷售，而沒有在其網絡內提供真正的效用，這表明缺乏內在價值或創新。他還警告專案創始人不要過早進行代幣銷售，因為這可能表明對長期可持續性缺乏信心。

Criteria for Identifying Legitimate Projects

識別合法項目的標準

To discern between legitimate and spurious L2 projects, Sirer advised investors to seek out solutions that address fundamental challenges within the crypto ecosystem, such as performance, scalability, and seamless integration with traditional financial systems. He emphasized the significance of L2 platforms that support diverse use cases and offer benefits beyond mere technical enhancements.

為了辨別合法和虛假的 L2 項目，Sirer 建議投資者尋找能夠解決加密生態系統內基本挑戰的解決方案，例如效能、可擴展性以及與傳統金融系統的無縫整合。他強調了 L2 平台的重要性，該平台支援多種用例並提供超越單純技術增強的好處。

Ethical Considerations

道德考慮

Sirer stressed the paramount importance of ethical conduct among developers, as unethical behavior can undermine project integrity. He recommended that investors carefully assess the track record and reputation of project teams before making any investment decisions.

Sirer 強調了開發商道德行為的重要性，因為不道德行為可能會破壞專案的完整性。他建議投資者在做出任何投資決定之前仔細評估專案團隊的業績記錄和聲譽。

Ethereum L2 Ecosystem Shows Promise

以太坊 L2 生態系展現出希望

Despite the concerns raised, the Ethereum L2 ecosystem has demonstrated remarkable growth, with its total value locked (TVL) surpassing $38 billion. In October 2023, L2 transaction activity on Ethereum's main network surpassed that of the main network itself. As of today, L2 networks handle approximately five times more transactions than the main network, as reported by L2beat.

儘管存在擔憂，以太坊 L2 生態系統仍表現出顯著的成長，其鎖定總價值 (TVL) 超過 380 億美元。 2023年10月，以太坊主網上的L2交易活動超過了主網路本身。根據 L2beat 報道，截至目前，L2 網路處理的交易量約為主網路的五倍。

Conclusion

結論

In the rapidly evolving crypto landscape, it is crucial for investors to exercise due diligence and discernment when assessing L2 solutions. By adhering to the criteria outlined by Sirer, investors can mitigate the risk of investing in "garbage" projects and maximize the potential for long-term returns.

在快速發展的加密貨幣領域，投資者在評估 L2 解決方案時進行盡職調查和辨別至關重要。透過遵守 Sirer 概述的標準，投資者可以降低投資「垃圾」專案的風險，並最大限度地發揮長期回報的潛力。