[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"article-5-reasons-many-ethereum-l2s-are-losing-purpose-zh":3,"article-related-5-reasons-many-ethereum-l2s-are-losing-purpose-zh":34,"series-blockchain-cb4ff8b8-badb-4aab-9fe2-5bb3c82d86e0":87},{"id":4,"slug":5,"title":6,"content":7,"summary":8,"source":9,"source_url":10,"author":11,"image_url":12,"cover_image":12,"category":13,"language":14,"translated_content":11,"related_article_id":15,"keywords":16,"key_takeaways":26,"views":30,"created_at":31,"published_at":32,"topic_cluster_id":33},"cb4ff8b8-badb-4aab-9fe2-5bb3c82d86e0","5-reasons-many-ethereum-l2s-are-losing-purpose-zh","5 個 Ethereum L2 失去用途的原因","\u003Cp data-speakable=\"summary\">\u003Ca href=\"\u002Ftag\u002Fethereum\">Ethereum\u003C\u002Fa> L2 正在往少數有真實需求的網路集中，許多通用型鏈開始失去存在理由。\u003C\u002Fp>\u003Cp>讀完這 5 點，你可以判斷一條 Ethereum L2 是在解決真問題，還是在重複做同樣的事。Base 和 Arbitrum 已拿走大部分 \u003Ca href=\"\u002Ftag\u002Fdefi\">DeFi\u003C\u002Fa> 資金，這代表市場正在快速縮到少數贏家。\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>項目\u003C\u002Fth>\u003Cth>規格 A\u003C\u002Fth>\u003Cth>規格 B\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Ca href=\"https:\u002F\u002Fwww.coinbase.com\u002Fbase\">Base\u003C\u002Fa>\u003C\u002Ftd>\u003Ctd>DeFi TVL 集中度\u003C\u002Ftd>\u003Ctd>與 Arbitrum 合計佔 80%+\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Ca href=\"https:\u002F\u002Farbitrum.foundation\u002F\">Arbitrum\u003C\u002Fa>\u003C\u002Ftd>\u003Ctd>DeFi TVL 集中度\u003C\u002Ftd>\u003Ctd>與 Base 合計佔 80%+ \u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Linea\u003C\u002Ftd>\u003Ctd>橋接存款變化\u003C\u002Ftd>\u003Ctd>2025 年 11 月 $976M → 2026 年 5 月 $367M\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>World Chain\u003C\u002Ftd>\u003Ctd>橋接存款變化\u003C\u002Ftd>\u003Ctd>小型鏈中出現下滑\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Starknet\u003C\u002Ftd>\u003Ctd>橋接存款變化\u003C\u002Ftd>\u003Ctd>小型鏈中出現下滑\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mantle\u003C\u002Ftd>\u003Ctd>橋接存款變化\u003C\u002Ftd>\u003Ctd>小型鏈中出現下滑\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch2>1. 通用型 L2 最容易失去差異化\u003C\u002Fh2>\u003Cp>文章的核心不是 L2 會消失，而是很多「\u003Ca href=\"\u002Fnews\u002Fwhy-cloudflare-voidzero-deal-wins-vite-zh\">什麼\u003C\u002Fa>都能做」的鏈，已經很難說服市場它們非存在不可。Espresso Systems 的 Ben Fisch 指出，現在是通用型 \u003Ca href=\"\u002Ftag\u002Flayer-2\">layer 2\u003C\u002Fa> 的整併期，不是整個 layer 2 類別的衰退期。\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780744671230-jzek.png\" alt=\"5 個 Ethereum L2 失去用途的原因\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>因為最容易的部分是把鏈做出來，最難的是讓使用者和開發者願意在另一條幾乎相同的鏈上重做一次選擇。\u003C\u002Fp>\u003Cul>\u003Cli>通用智能合約部署已經到處都有\u003C\u002Fli>\u003Cli>使用者不想把活動切到相似度很高的多條鏈\u003C\u002Fli>\u003Cli>只寫「又一條 Ethereum 鏈」很難形成產品理由\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>2. 流動性正在往少數贏家集中\u003C\u002Fh2>\u003Cp>數據顯示，市場已經明顯向頭部集中。DefiLlama 的統計指出，Base 與 Arbitrum 合計佔了超過 80% 的 layer-2 DeFi TVL，這讓長尾小鏈只能爭奪更小的資金池。\u003C\u002Fp>\u003Cp>這不只是品牌問題。流動性越少，交易、借貸與跨鏈橋接就越不吸引人，使用量也會跟著下降，最後形成只對大生態有利的正循環。\u003C\u002Fp>\u003Cul>\u003Cli>Base 與 Arbitrum 主導大部分 DeFi 活動\u003C\u002Fli>\u003Cli>小型鏈更依賴存款是否能留住\u003C\u002Fli>\u003Cli>集中化會讓新鏈更難活下來\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>3. 便宜不等於有需求\u003C\u002Fh2>\u003Cp>Ethereum 的 Dencun 升級確實讓 rollup 更便宜，因為資料上鏈成本下降了。Messari 的研究指出，對不少 OP Stack 鏈來說，資料可用性成本現在只佔營運成本的一小部分，代表發鏈的經濟門檻確實降低了。\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780744671731-gox3.png\" alt=\"5 個 Ethereum L2 失去用途的原因\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>但問題沒有被解決，只是從「能不能做」變成「做了之後有沒有人用」。Alice Hou 提到，若沒有足夠的區塊空間需求、使用者活動或開發者採用，成本下降也不會自動帶來價值。\u003C\u002Fp>\u003Ccode>Dencun 降低 blob 成本\u003Cbr>但：更便宜 ≠ 自然有需求\u003C\u002Fcode>\u003Ch2>4. 應用專用鏈的理由更強\u003C\u002Fh2>\u003Cp>文章認為，L2 最有說服力的方向不是基礎設施本身，而是服務特定業務，例如支付、\u003Ca href=\"\u002Fnews\u002Fmoneygram-stablecoin-stellar-mg-usd-zh\">穩定幣\u003C\u002Fa>與資產代幣化。這類鏈可以提供更低成本、更可控的環境，以及更穩定的效能表現。\u003C\u002Fp>\u003Cp>對已經有真實鏈上活動的公司來說，L2 不是炫技，而是產品設計的一部分。只要有足夠的交易量與用戶需求，專用鏈就比泛用部署更合理。\u003C\u002Fp>\u003Cul>\u003Cli>支付平台需要可預測的交易成本\u003C\u002Fli>\u003Cli>穩定幣發行方重視分發與控制\u003C\u002Fli>\u003Cli>代幣化基金與存款業務適合專用 rails\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>5. 分發能力比技術新意更重要\u003C\u002Fh2>\u003Cp>文章反覆強調，真正決定成敗的不是鏈有多新，而是它能不能帶來分發。Hou 的觀點很直接：只有已經有使用者基礎、而且確實能從\u003Ca href=\"\u002Ftag\u002F區塊鏈\">區塊鏈\u003C\u002Fa>受益的\u003Ca href=\"\u002Fnews\u002F5-adoption-gaps-ai-teams-need-to-close-zh\">團隊\u003C\u002Fa>，才值得自己開一條 L2。\u003Ca href=\"https:\u002F\u002Fwww.coinbase.com\u002Fbase\">Base\u003C\u002Fa> 是最典型的例子，因為它同時有交易所分發與 Ethereum 生態連結。\u003C\u002Fp>\u003Cp>換句話說，重點不是「能不能發鏈」，而是「這家公司本來就有多少金融活動、使用者與生態需求」。這個門檻比想像中高，也正是許多通用型 L2 失去動能的原因。\u003C\u002Fp>\u003Cul>\u003Cli>既有使用者能降低採用成本\u003C\u002Fli>\u003Cli>真實業務量可以支撐專用鏈\u003C\u002Fli>\u003Cli>與交易所或平台綁定的 L2 有分發優勢\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>怎麼挑\u003C\u002Fh2>\u003Cp>如果你在評估 Ethereum L2，優先看的是用途、使用者與需求，而不是宣傳聲量。能長久活下來的，通常是像 Base、Arbitrum 這種已經有明確流量與資金的網路。\u003C\u002Fp>\u003Cp>如果你是建設方，最簡單的原則是：只有當一條 L2 真的能改善產品、承接既有業務時，才值得做。市場現在獎勵的是有目的的鏈，不是多一條看起來很像的鏈。\u003C\u002Fp>","5 個重點看懂 Ethereum L2 為何快速集中到少數贏家，以及哪些條件才值得繼續維持一條 L2。","www.coindesk.com","https:\u002F\u002Fwww.coindesk.com\u002Ftech\u002F2026\u002F06\u002F04\u002Fnot-all-ethereum-layer-2s-are-dying-but-many-general-purpose-chains-no-longer-have-a-reason-to-exist",null,"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780744671230-jzek.png","blockchain","zh","e3f258c9-f1d2-4329-9305-d144d4ab9f33",[17,18,19,20,21,22,23,24,25],"Ethereum L2","layer 2","Base","Arbitrum","DeFi TVL","Dencun","rollup","流動性集中","應用專用鏈",[27,28,29],"通用型 L2 正在失去差異化，市場更偏向有明確用途的鏈。","Base 和 Arbitrum 已經吸走大部分 DeFi TVL，頭部集中很明顯。","便宜的 rollup 成本不等於需求，分發與真實業務才是關鍵。",1,"2026-06-06T11:17:25.330035+00:00","2026-06-06T11:17:25.315+00:00","850521a0-b27e-4908-ad6a-73627a7f33a1",{"tags":35,"relatedLang":46,"relatedPosts":50},[36,38,40,42,44],{"name":20,"slug":37},"arbitrum",{"name":18,"slug":39},"layer-2",{"name":17,"slug":41},"ethereum-l2",{"name":19,"slug":43},"base",{"name":21,"slug":45},"defi-tvl",{"id":15,"slug":47,"title":48,"language":49},"5-reasons-many-ethereum-l2s-are-losing-purpose-en","5 reasons many Ethereum L2s are losing purpose","en",[51,57,63,69,75,81],{"id":52,"slug":53,"title":54,"cover_image":55,"image_url":55,"created_at":56,"category":13},"d6768cdb-e43c-4b70-b015-dca026ebd1de","how-to-buy-linea-assets-on-bitget-wallet-zh","5 分鐘在 Bitget Wallet 買入 Linea 資產","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780746470651-trap.png","2026-06-06T11:47:23.216233+00:00",{"id":58,"slug":59,"title":60,"cover_image":61,"image_url":61,"created_at":62,"category":13},"3faf79cc-bd60-4eab-a7a6-88a87ccec57b","layer-2-picks-turn-ethereum-scaling-into-buys-zh","Layer 2 選股別再看熱鬧","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780745602743-xkgx.png","2026-06-06T11:32:54.43137+00:00",{"id":64,"slug":65,"title":66,"cover_image":67,"image_url":67,"created_at":68,"category":13},"8933a810-8475-4203-b149-7045febcb302","moneygram-stablecoin-stellar-mg-usd-zh","MoneyGram 在 Stellar 推出穩定幣","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780738396602-djcz.png","2026-06-06T09:32:49.06108+00:00",{"id":70,"slug":71,"title":72,"cover_image":73,"image_url":73,"created_at":74,"category":13},"128311fb-0ba4-4117-8406-54115fc52f6f","kyle-samani-web3-dead-defi-depin-zh","Kyle Samani：Web3 已死，DeFi 與 DePIN 還活著","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780719476283-szsa.png","2026-06-06T04:17:28.120095+00:00",{"id":76,"slug":77,"title":78,"cover_image":79,"image_url":79,"created_at":80,"category":13},"e44f426b-30cf-4d6f-8282-e2a0df526c5a","why-web3-is-wrong-about-its-own-future-zh","為什麼 Web3 對自己的未來看錯了","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780718570505-2fvt.png","2026-06-06T04:02:22.130323+00:00",{"id":82,"slug":83,"title":84,"cover_image":85,"image_url":85,"created_at":86,"category":13},"9ffdd70b-5845-464f-b00f-607cd2da1517","5-defi-ideas-vitalik-buterin-says-could-cut-crashes-zh","5 個 Vitalik 的 DeFi 降崩盤構想","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780629473182-l4gq.png","2026-06-05T03:17:24.119097+00:00",[88,93,98,103,108,113,118,123,128,133],{"id":89,"slug":90,"title":91,"created_at":92},"e1b4b518-f86b-410c-8c82-8cfb787ff2ef","moonpay-open-wallet-standard-ai-payments-zh","MoonPay 推 OWS，瞄準 AI 付款","2026-03-28T03:08:33.379969+00:00",{"id":94,"slug":95,"title":96,"created_at":97},"e72bae29-ddbd-437b-aaa4-cd662605394b","next-gen-crypto-simulators-ai-web3-training-zh","新一代加密模擬器更聰明了","2026-04-01T09:36:33.917023+00:00",{"id":99,"slug":100,"title":101,"created_at":102},"b8e39b58-6b9d-4714-92d3-26df18a3e0f4","rtk-cuts-claude-code-token-spend-zh","RTK 讓 Claude Code 少燒 Token","2026-04-01T10:24:29.259497+00:00",{"id":104,"slug":105,"title":106,"created_at":107},"7ff10146-4ca0-4670-a02c-384dde04f610","trm-labs-ai-agents-crypto-investigations-zh","TRM Labs 將 AI agent 帶進加密調查","2026-04-01T10:33:30.166266+00:00",{"id":109,"slug":110,"title":111,"created_at":112},"00668dea-9f0e-4019-b861-03817d5a8877","how-web3-marketing-changed-in-2026-zh","2026 Web3 行銷怎麼變了","2026-04-02T01:36:34.973322+00:00",{"id":114,"slug":115,"title":116,"created_at":117},"e7992274-42ee-40bc-bb05-97250098c56c","ai-agentic-defi-web3-grants-march-2026-zh","AI、Agentic DeFi 與 Web3 補助案","2026-04-02T05:51:36.857954+00:00",{"id":119,"slug":120,"title":121,"created_at":122},"5cef810b-af3d-467a-8b41-627769eca895","why-crypto-is-fixated-on-ai-agents-zh","為何加密圈盯上 AI Agent","2026-04-02T05:54:28.919864+00:00",{"id":124,"slug":125,"title":126,"created_at":127},"d30e6203-d522-41a1-b529-fcf4499cd985","web3-explained-what-it-is-why-it-matters-zh","Web3 是什麼，為何重要","2026-04-02T06:15:32.580114+00:00",{"id":129,"slug":130,"title":131,"created_at":132},"f29e65ae-64df-463b-ba22-afd9dcbd0f8f","trust-wallet-agent-kit-ai-trade-25-chains-zh","Trust Wallet 讓 AI 幫你交易","2026-04-02T06:27:33.183404+00:00",{"id":134,"slug":135,"title":136,"created_at":137},"91022b4c-b53e-4c18-abfe-914a8eca6e28","blockchain-in-ai-real-use-cases-zh","區塊鏈加 AI，真實落地在哪裡","2026-04-02T06:30:44.026286+00:00"]