Ethereum Trends 2025: The more successful the protocol, the higher the ecological risk? In-depth analysis of the post-Pectra era
Ethereum's core protocol grows stronger, but the ecosystem is facing unprecedented complexity Over
the past year, Ethereum has staged a textbook-level engineering marvel. From the Dencun upgrade, which fundamentally addresses the cost of L2, to the Pectra upgrade, which aims to optimize the core staking economy, the digital Leviathan, the digital world's "digital leviathan," executes its public roadmap with precision. However, a peculiar paradox lies before all observers: the certainty and success of the protocol layer do not seem to bring tranquility to the ecological layer, but instead create unprecedented complexity and potential risks. Ethereum's engine room (the main protocol) has never been more powerful and clear, but its vast new continent (L2 and Restaking ecosystem) is filled with the hustle and bustle of opportunity and a fog of chaos. We must ask a new question: when the war of the underlying protocol is basically over, where is the next battlefield for...