0xresearcher

When both types of costs decrease simultaneously, self-owned EVM chains/rollups transition from a few top custom options to more standardized solutions that can be replicated in the scaling phase.

This sounds like a further technological upgrade, but essentially it is an inevitable choice after the application enters the deep waters of growth. When product validation is complete, transaction behavior stabilizes, and the user base expands, the application begins to be dissatisfied with "renting someone else's underlying infrastructure" and hopes to take control of key experiences and key revenue segments.

Looking back at this wave of prosperity in RaaS, it has solved the problem of "difficulty in issuing chains," but it has also brought the issue of "difficulty in using chains" to the forefront: asset versions, dispersed liquidity, and lengthy cross-chain processes ultimately consume growth.

Ethereum's situation today is quite similar; the rapid expansion of the Rollup system has made it possible for mainstream applications to go on-chain. However, at the same time, the more fragmented chain layout, the higher costs of development and maintenance, and the disjointed cross-chain experience are quickly eroding the benefits brought by scalability.

The on-chain world often starts with code, but true influence ultimately lies in the real world. When Web3 projects begin to think about how to make their symbols appear on the streets, in people's daily conversations, and in the childhood memories of the next generation, the industry has truly found its way to the masses. Technology builds possibilities, while culture determines how far those possibilities can go.

The most important investment principle is: do not concentrate all assets in a single wrapped Bitcoin scheme. Just as diversifying native crypto assets can reduce portfolio risk, a decentralized strategy should also be adopted in the wrapped Bitcoin space.

In the same week that ZEC surged, Vitalik released a "Trustless Manifesto," while a Cloudflare outage caused 90% of Web3 projects worldwide to go down.

Trillions of dollars in traditional assets have long remained in centralized systems or cold wallets, resulting in low liquidity and weak programmability. Tokenization can not only release liquidity but also introduce smart contracts and DeFi mechanisms into the traditional asset market. However, the development of RWA has been constrained by institutional, legal, and technological barriers from potential to implementation.

The report presents an inspiring concept: the IP Layer, or "the new foundational layer of intellectual property." Its core idea is to make IP a digital-native asset that can be registered, tracked, and circulated on the blockchain, inherently possessing rights confirmation and transfer functions like Bitcoin or Ethereum. This idea made me realize that we are approaching a reconstruction of institutional forms. In the past, intellectual property relied on external systems and institutions for confirmation, while in the future, it may be directly