Layer 2 解决方案的爆炸式增长：以太坊的历史性飞跃，但以太坊真的受到威胁吗？

加密货币格局正在迅速发展，而以太坊作为这个宇宙的支柱，也不能幸免于剧变。第 2 层 (L2) 解决方案正在经历爆炸性增长，总锁定价值 (TVL) 达到 515 亿美元。

As the crypto landscape undergoes rapid transformations, Layer 2 (L2) solutions are experiencing explosive growth, reaching a total value locked (TVL) of $51.5 billion. These innovations are fundamentally altering the Ethereum ecosystem, posing both opportunities and challenges for Ether (ETH).

随着加密货币格局经历快速变革，第 2 层 (L2) 解决方案正在经历爆炸性增长，锁定总价值 (TVL) 达到 515 亿美元。这些创新从根本上改变了以太坊生态系统，为以太坊（ETH）带来了机遇和挑战。

L2 solutions, such as Arbitrum and Base, are designed to enhance Ethereum's scalability by enabling transactions to be processed on secondary chains, reducing fees and wait times on the main crypto network. This has led to a 205% increase in TVL within a year, rising from $16.6 billion in November 2023 to over $51 billion today.

L2 解决方案（例如 Arbitrum 和 Base）旨在通过使交易能够在二级链上处理、减少主加密网络上的费用和等待时间来增强以太坊的可扩展性。这导致 TVL 在一年内增长了 205%，从 2023 年 11 月的 166 亿美元增至如今的超过 510 亿美元。

Arbitrum holds a dominant 35% share of the total L2 TVL, amounting to $18.3 billion. Base follows with an impressive 22% share, largely attributed to record-breaking transactions per second (TPS) and a surge in interest around memecoins. These figures highlight the enthusiasm among investors for L2 solutions, which are widely regarded as essential for the future of Ethereum.

Arbitrum 占据 L2 TVL 总额 35% 的主导份额，达 183 亿美元。 Base 紧随其后，占据了令人印象深刻的 22% 份额，这主要归功于破纪录的每秒交易量 (TPS) 以及人们对 memecoin 的兴趣激增。这些数字突显了投资者对 L2 解决方案的热情，人们普遍认为 L2 解决方案对以太坊的未来至关重要。

However, this rise is not without its consequences. Recent upgrades, such as Dencun, have stabilized transaction fees on L2, making these solutions even more attractive. But this optimization could potentially divert a portion of the revenues from the main network, posing a strategic question: to what extent can L2 solutions coexist with Ether crypto without impacting its value?

然而，这种崛起并非没有后果。最近的升级（例如 Dencun）稳定了 L2 上的交易费用，使这些解决方案更具吸引力。但这种优化可能会从主网络转移部分收入，从而提出一个战略问题：L2 解决方案可以在多大程度上与以太加密共存而不影响其价值？

Some experts view L2 solutions as potential "cannibals" within the Ethereum ecosystem. By concentrating activities on secondary chains, these solutions could potentially weaken the main network and, by extension, compromise the valuation of ETH crypto.

一些专家将 L2 解决方案视为以太坊生态系统中潜在的“食人者”。通过将活动集中在二级链上，这些解决方案可能会削弱主网络，进而损害 ETH 加密货币的估值。

Currently, Ether remains the central engine of Ethereum, being used for transactions and fees on the main network. However, as L2 solutions continue to gain traction, ETH crypto could lose some of its appeal, especially in terms of demand. This scenario presents a strategic dilemma for developers, who must decide whether to prioritize large-scale adoption of L2 solutions at the expense of Ether's price.

目前，以太币仍然是以太坊的核心引擎，用于主网络上的交易和费用。然而，随着 L2 解决方案继续受到关注，ETH 加密货币可能会失去一些吸引力，特别是在需求方面。这种情况给开发人员带来了战略困境，他们必须决定是否以牺牲以太币价格为代价来优先大规模采用 L2 解决方案。

Recent data reveals a fragile balance, as the TVL of L2 skyrockets while the price of Ether remains stagnant, failing to keep up with this dynamic. This divergence raises a crucial question: could the popularity of L2 solutions lead to a sustainable decoupling between Ethereum and its native token?

最近的数据显示出一种脆弱的平衡，L2 的 TVL 飙升，而 ETH 的价格却停滞不前，未能跟上这种动态。这种分歧提出了一个关键问题：L2 解决方案的流行能否导致以太坊与其原生代币之间可持续的脱钩？