The evolution of the crypto execution stack is anticipated to accelerate, particularly with the Ethereum platform serving as a foundational element for new Layer 1 (L1) and Layer 2 (L2) networks. Experts are emphasizing the importance of L2 solutions in scaling Ethereum to potentially support one billion users. A notable shift is observed in the industry, with the concept of 'private sidechains' losing traction in favor of interoperable L2s that work closely with Ethereum's L1. This shift suggests that decentralized economic applications utilizing proprietary tokens may struggle against those that leverage Ethereum's native currency, ETH. The competitive landscape is expanding, with new L1 networks like Solana, Sui, Near, and Avalanche entering the fray, leading to increased competition among L1s, L2s, and centralized exchanges. Additionally, immediate user experience improvements are critical for platforms like Coinbase, which cannot afford to wait for ETH's price stabilization, highlighting the urgency for startups to develop censorship-resistant applications using ETH as a payment currency.