公鍊大戰：多元聲音的過去

第 1 層和第 2 層是區塊鏈網路的不同層，其中第 1 層是主鏈，是執行交易的自治鏈

In past cycles, whenever Ethereum faced a "performance" dilemma, "Ethereum killers" would emerge. These Layer 1 blockchains aimed to capitalize on Ethereum's limitations, while Ethereum's Layer 2 solutions were positioned in opposition to them.

在過去的周期中，每當以太坊面臨「性能」困境時，「以太坊殺手」就會出現。這些第一層區塊鏈旨在利用以太坊的局限性，而以太坊的第二層解決方案則與之相反。

However, since Ethereum completed the Cancun upgrade this year, the narrative volume around Ethereum Layer 2 has surpassed that of Layer 1, even replacing Layer 1 as the mainstream narrative. On one hand, the competitive landscape of Layer 1 has not changed; from a market capitalization perspective, (excluding BTC) ETH, BNB, and Solana form a three-way stalemate, with ETH dominating. On the other hand, there is a question: why have we seen almost no new Ethereum killers emerge in this cycle?

然而，自從以太坊今年完成坎昆升級以來，圍繞以太坊 Layer 2 的敘事量已經超越 Layer 1，甚至取代 Layer 1 成為主流敘事。一方面，Layer 1的競爭格局並沒有改變；從市值來看，（不含BTC）ETH、BNB、Solana三者相持，ETH佔據主導地位。另一方面，還有一個問題：為什麼我們在這個週期中幾乎沒有看到新的以太坊殺手出現？

Interestingly, Ethereum also seems to be trapped in the Layer 2 dilemma. Data from Token Terminal shows that ETH Layer 1 revenue has plummeted, declining by 99% since March 2024. Meanwhile, in August this year, Multicoin Capital criticized Ethereum Layer 2 on a Bankless program, and subsequently, Ethereum Foundation researchers stated in an AMA that Ethereum is still exploring Layer 1 rather than fully relying on Layer 2.

有趣的是，以太坊似乎也陷入了 Layer 2 困境。 Token Terminal 的數據顯示，ETH Layer 1 收入直線下降，自2024 年3 月以來下降了99%。中表示，以太坊仍在探索 Layer 1，而不是完全依賴 Layer 2。

The issues obscured by the prosperity of Layer 2 are thus beginning to surface.

因此，被 Layer 2 的繁榮所掩蓋的問題開始浮出水面。

Public Chain Wars: A Past of Diverse Voices

公鍊大戰：多元聲音的過去

Layer 1 and Layer 2 are different tiers of blockchain networks, where Layer 1 is the main chain, an autonomous chain where transactions are executed and confirmed directly, providing the necessary infrastructure for the blockchain network and interacting directly with users. Notable public chains like Bitcoin and Ethereum are at this level.

Layer 1 和 Layer 2 是區塊鏈網路的不同層，其中 Layer 1 是主鏈，是直接執行和確認交易的自治鏈，為區塊鏈網路提供必要的基礎設施並直接與用戶互動。比特幣和以太坊等著名公鏈就處於這個水平。

Layer 2 is an off-chain vertical scaling solution that runs on top of Layer 1 blockchains like Ethereum to enhance scalability. Popular projects at this layer include Arbitrum, Optimism, and others.

Layer 2 是一種鏈下垂直擴展解決方案，運行在以太坊等 Layer 1 區塊鏈之上，以增強可擴展性。這一層的熱門項目包括 Arbitrum、Optimism 等。

It can be said that Layer 1 exists before Layer 2. With technological advancements and market awareness updates, in addition to these two tiers, the blockchain ecosystem has also extended to Layer 0 and Layer 3. Layer 0 refers to the underlying infrastructure that can build multiple Layer 1 blockchains, while Layer 3 refers to the application layer based on blockchain, including games, wallets, and other DApps.

可以說，Layer 1先於Layer 2存在。的底層基礎設施多個Layer 1區塊鏈，而Layer 3是指基於區塊鏈的應用層，包括遊戲、錢包和其他DApp。

The public chain wars originated from Layer 1. To break Bitcoin's limitations, many public chains began to flourish. Bitcoin was originally designed as a trustless peer-to-peer electronic cash system and is also a Layer 1, with security and decentralization as its greatest advantages. To maintain these two characteristics, Bitcoin is not suitable for carrying too many applications and developments, thus having poor scalability.

公鏈之戰起源於Layer 1。比特幣最初被設計為一種無需信任的點對點電子現金系統，也是 Layer 1，安全性和去中心化是其最大的優勢。為了維持這兩個特性，比特幣不適合承載太多的應用和開發，因而擴展性較差。

Security, decentralization, and scalability are important components of the "blockchain trilemma" theory, proposed by Ethereum founder Vitalik Buterin, which states that a blockchain network cannot simultaneously achieve security, decentralization, and scalability.

安全性、去中心化和可擴展性是以太坊創始人Vitalik Buterin 提出的「區塊鏈三難困境」理論的重要組成部分，該理論指出區塊鏈網路無法同時實現安全性、去中心化和可擴展性。

Ethereum was officially launched in 2015. Shortly thereafter, several other public chains emerged, such as Cardano and Polkadot. Among them, Ethereum became the first widely recognized public chain with a Turing-complete programming language, filling the scalability gap of Bitcoin.

以太坊於2015年正式上線。其中，以太坊成為第一個廣受認可的具有圖靈完備程式語言的公鏈，填補了比特幣的可擴展性缺口。

However, from a historical perspective, this scalability is limited. Whenever Ethereum's adoption rate rises, the network becomes congested, and to avoid the risk of "centralization creep" in the protocol, Ethereum developers are reluctant to increase throughput limits. Thus, in this scenario, Ethereum also falls into the "impossible triangle" dilemma. The most intuitive feeling is that whenever this moment arrives, using Ethereum becomes very expensive, or the speed slows down. For application creators and users, this is a disaster, but it gives competitors a chance to survive.

然而，從歷史的角度來看，這種可擴展性是有限的。每當以太坊的採用率上升時，網路就會變得擁堵，為了避免協議中「中心化蔓延」的風險，以太坊開發人員不願意提高吞吐量限制。因此，在這種情況下，以太坊也陷入了「不可能三角」的困境。最直觀的感受是，每當這一刻到來時，使用以太坊就會變得非常昂貴，或是速度變慢。對於應用程式創建者和用戶來說，這是一場災難，但卻給了競爭對手生存的機會。

According to incomplete statistics, in 2018, the number of newly added public chains worldwide exceeded 100, marking the beginning of the "thousand chains" era. Among them, blockchains like EOS, TRON, Tezos, and Cardano completed fundraising activities of over $400 million, $200 million, $227 million, and $117 million respectively, becoming prominent projects in the market.

據不完全統計，2018年全球新增公鏈數量超過100條，標誌著「千鏈」時代的開始。其中，EOS、TRON、Tezos、Cardano等區塊鏈分別完成了超過4億美元、2億美元、2.27億美元和1.17億美元的融資活動，成為市場上的突出項目。

These public chains were once somewhat labeled as "Ethereum killers" by the market, and now some have been categorized into new types, with some classified as Layer 0 and others as Layer 2.

這些公鏈一度被市場貼上「以太坊殺手」的標籤，現在有些公鏈被劃分為新的類型，有的被歸類為 Layer 0，有的被歸類為 Layer 2。

From 2020 to 2021, competition among public chains intensified, as not only did the number continue to grow, but existing public chains also engaged in a battle for market share, which can be seen from the data on developer activity:

從2020年到2021年，公鏈之間的競爭加劇，不僅數量不斷增長，現有公鏈也展開了市場份額爭奪戰，從開發者活躍度數據可以看出：

By the end of 2021, as the market entered severe fluctuations and leveraged funds were cleared, some public chains gradually fell behind, forming the current landscape.

到了2021年底，隨著市場進入劇烈波動、槓桿資金出清，一些公鏈逐漸落後，形成了現在的格局。

According to Token Terminal data, from a market capitalization perspective, there are only four public chains with a weight of over 1%, namely BTC, ETH, BNB, and Solana, which account for approximately 70.2

Token Terminal數據顯示，從市值來看，權重超過1%的公鏈僅有BTC、ETH、BNB、Solana 4條，佔比約70.2%