A brief discussion of the development of the cryptocurrency industry from 2017 to 2024:

Phase 1/ In 2017, the#ICOera relied on#ETHsmart contracts. A large number of projects began to discuss implementation in combination with blockchain technology, discussing the energy consumption and transaction speed of#BTCmining. In the bear market, a large number of players criticized miners for mining, withdrawing and selling.

Phase 2/A large number of public chain projects that talked about implementation and tried to solve the speed problem basically died. It was realized that the more secure the blockchain network is and the higher the cost of attack is, the higher the value of the coin is.

Phase 3/Since ETH and BTC are the most stable and valuable, development is done on them, so#NFTand#DEFIappeared, ETH second-layer projects were launched crazily, and various#swapand#defiwere all moved to #ETHL2.

Phase 4/The second-layer projects seized the liquidity of the ETH main network. ETH itself has smart contracts. In addition to increasing the transaction speed, users do not seem to feel any innovation.

Phase 5/BTC has no smart contracts and no asset issuance protocol, so people started thinking about the second layer of BTC, and#ordinals#runes and the currently popular#BTCL2began to appear, trying to solve the transaction speed of BTC and be compatible with EVM.