From Telecom Standards to Blockchain
In today’s globalized world, whether for travel or business, people expect seamless network access across different regions. Unified technical standards enable mobile phones and networks from different providers to work together effortlessly.
Despite variations in technical standards or frequency bands, they adhere to common protocols, ensuring global compatibility. The blockchain space, too, requires similar standardization efforts to achieve seamless interoperability.
The State of Ethereum: A Fragmented User Experience
In 2020, Ethereum co-founder Vitalik Buterin introduced a Rollup-centric roadmap, sparking rapid growth in layer 2 technology. This advancement has significantly lowered transaction fees and increased processing speed, offering a vital solution to Ethereum’s congestion challenges.
Think of Ethereum’s mainnet as a busy highway, responsible for transaction security and execution. As traffic increases, congestion becomes inevitable. Layer 2s act like overpasses, expanding capacity to ease congestion while securely settling transactions on the mainnet.
However, interoperability between layer 2s remains limited—like overpasses without proper connections, making it difficult for transactions to flow seamlessly. This fragmentation disrupts the user experience and hinders Ethereum’s broader ecosystem growth.
Ethereum Layer 2 Ecosystem Map
New Technologies for Seamless Connectivity
The Ethereum community is driving innovation with solutions like Interop (a cross-chain communication protocol) and the Open Intents Framework, designed to enable seamless interoperability between layer 2s. These technologies allow users to transfer assets across layer 2s within a single wallet and complete transactions in seconds.
As a leading wallet in the Ethereum ecosystem, imToken collaborates closely with the community to enhance user experience through technical innovation. At ETHTaipei, imToken invited around 200 blockchain developers to test its Send via Link feature on imToken Web.
This feature allows users to create an on-chain red packet without knowing the recipient’s address. They simply deposit tokens and share a link via social platforms like LINE, Twitter, or Telegram. When the recipient clicks the link, a smart contract wallet is instantly generated using a passkey, enabling gas-free, mnemonic-free token claims.
Traditionally, entering the Ethereum ecosystem required users to understand mnemonic phrases, creating a high entry barrier. Claiming airdrops or transferring tokens also required ETH for gas fees, posing challenges for users with insufficient balances.
imToken Web removes these barriers with gas abstraction, allowing users to claim tokens without paying transaction fees. This dramatically improves accessibility and usability. Additionally, Send via Link transforms token transfers by leveraging social networks rather than requiring wallet addresses—turning tokens into a form of social currency for red packet gifting, community rewards, and beyond.
Streamlined Cross-Layer 2 Token Transfers with imToken Web
imToken Web greatly simplifies cross-layer 2 token transfers. Users can specify the recipient's network in two ways:
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Address + Prefix: For example, op.imtoken.eth indicates the corresponding address of imtoken.eth on Optimism.
- Manual Selection: After entering imtoken.eth, users can manually select the network for the transfer.
Previously, transferring tokens between layer 2s—such as from Arbitrum to Optimism—required using a cross-chain bridge and ensuring the Arbitrum account had ETH to cover gas fees.
With imToken Web, users can pay gas fees with any token in their account. During the ETHTaipei event, imToken even covered the gas fees, enabling users to initiate transfers without paying. Plus, users can directly select the recipient’s network on the transfer page, streamlining the process.
Next, we’ll continue to build on our technical strengths and innovate on the UI to provide an even smoother user experience.
Why Ethereum?
Despite facing challenges, Ethereum remains one of the most dominant ecosystems in the blockchain space. Currently, the total value locked (TVL) in the cryptocurrency market stands at approximately $286 billion, with Ethereum (including the mainnet and layer 2 networks) accounting for 60% to 70% of this total. This shows that the majority of tokens in the market are still concentrated on Ethereum.
Blockchain TVL Distribution
Ethereum’s stablecoins alone have reached $120 billion, representing nearly 54% of the total stablecoin market ($224 billion), with a consistent upward trend. Whether by asset size or user base, Ethereum continues to lead as the largest ecosystem in the blockchain space. We believe this market dominance will unlock significant opportunities for Ethereum.
Furthermore, as layer 2 network fees continue to decrease, the use of stablecoins on Ethereum is expected to expand. While there is some fragmentation between Ethereum’s DeFi, DApps, layer 2 networks, and wallets, the integration of cross-chain communication protocols (Interop) can seamlessly connect these components. This integration will enhance ecosystem efficiency, improve user experience, and drive broader adoption.
Looking Ahead
The goal of technology is to lower barriers, not create them. Through innovations like imToken’s on-chain red packets, gas-free transfers and gas abstraction, we aim to transform blockchain from a tool for tech enthusiasts into an accessible, inclusive financial infrastructure—much like the internet evolved from a niche technology to a universal tool.
When blockchain technology truly integrates into social, payment, and collaborative activities, inclusive finance will move from an ideal to a reality.