#机构采用 Seeing this report from Coinbase, I believe the direction of crypto infrastructure this year is already very clear — the era of dedicated chains has truly arrived.

Previously, everyone wanted to build on general-purpose chains like Ethereum and Solana, but now institutions are starting to get serious, building their own dedicated blockchains. Circle’s Arc, Stripe’s Tempo, Canton Network — these are all customized solutions tailored to institutional needs. The core logic is simple: large institutions don’t want to hand over their core business to platforms controlled by competitors; data sovereignty and strategic control are too important.

For us retail folks, what does this trend mean? The opportunities for new projects are indeed increasing. These dedicated chains need to exchange data during their initial launch to cold start, and institutions also need users to fill the ecosystem. In the short term, we will see more airdrops and incentives targeting these infrastructure projects.

However, be careful not to get dazzled by the new chains. The key is to focus on projects backed by big institutions, with sufficient funding and clear application scenarios. Blindly chasing risks is too dangerous. My advice is to keep an eye on these institutional platform developments; once interaction activities start, early entry costs are lowest, and the returns are most direct.

This cycle of institutional chain rise, if we can grasp the rhythm, can actually lower our costs of involvement.