"Native Bitcoin L2" and "sustainable yield"—we've heard these promises too many times, and they all ended in failure. Most of the so-called Bitcoin L2 solutions on the market are just layer-2 solutions with different appearances, relying on centralized cross-chain bridges and single sequencers.

But this raises an interesting question: if existing solutions all have these pain points, how should the next generation of Bitcoin L2 break through? Is the core in solving decentralized verification, sequencing mechanisms, or cross-chain security? How much room is there for innovation in technology stacks and economic models? These are the areas worth exploring in depth.