Today it’s raining and the roads are congested, and I forgot to take a sip of the coffee that was sitting on the table—so it already went cold… I also casually checked the blockchain, and then suddenly I thought about “modularity.” Honestly, it doesn’t really feel “revolutionary” for end users. You open your wallet, click confirm, wait for the block to be produced—the experience is still the same. At most, the same operation is routed through a cheaper/faster path.

But it really has quietly changed a few annoying things: before, when there was a traffic jam, everything would get jammed too; now execution, settlement, and data are separated, so if one layer goes haywire, it won’t take the whole network down at the same time. And cross-chain/multi-chain is going to happen more often. On the surface, users may only see “why do I have to keep switching networks/changing RPC,” and I—being the kind of person with OCD—really wants to replace all the default RPCs… a signature failure drives me more than losing money.

Recently, everyone has been comparing RWA, U.S. bond yields, and on-chain yield products side by side. In a way, it’s also similar to the “packaging feel” that modularity creates: the underlying assembly is complicated, but the front end gives you a button that looks pretty much the same. Anyway, these days when I pick products, I make sure I understand where settlement happens and who’s on the hook for asset custody—don’t just rush in because it “looks like a government bond.” That’s it for now.