I've been diving for a long time, but I still can't help but say: the word "modularization" sounds very grand, but honestly, for end users, it boils down to two things—don't lag too much, and don't be too expensive. In the past, a single chain did everything; if it got congested, you could only wait. Now, by splitting "accounting" and "billing," some chains focus on speed, while others focus on stability. In the end, what you see in your wallet might just be confirmation faster and lower transaction fees, with everything else hidden in the background.

But don’t imagine that just changing the architecture will solve everything; crossing over between layers can actually make it easier to stumble: moving assets between different layers, with more bridges, routing, and ordering steps, increases the chances of issues. Recently, the signals around compliance and taxes have been fluctuating, and the expectations for deposits and withdrawals are quite volatile. The on-chain signs of “sudden collective caution” are obvious… Anyway, what I care more about now is: how many layers has this path I’m using gone through, and who takes the blame if something goes wrong. That’s all for now.