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Recently, I've seen people say that Ethereum is the next Solana, but most of them either don't understand the current situation or are deliberately stirring the pot.
Yes, after the Fusaka upgrade and the BPO1/2 hard fork, the block capacity of Ethereum L1 has indeed increased quite a bit. But the key issue is— the theoretical TPS still far from satisfying the appetite of high-frequency trading. This is a ceiling that's hard to bypass.
Once on-chain activity continues to accumulate and block utilization approaches or even reaches 100%, congestion will occur. At that point, users will have no choice but to compete with each other to raise gas prices, returning to the old routine. The EIP-1559 mechanism actually has limited effect here—it changes the fee burning mechanism but cannot address the fundamental network capacity bottleneck.
In the short term, it seems comfortable, but long-term problems can only be truly solved through layer 2 solutions, which is the industry consensus.