jakiro
Author: fangjun, Developer DAO Source: @fjun99
Ethereum seems to be still actively building, and the new upgrade plan includes a lot of innovation (but there is no such exciting as blink). Ethereum also has many powerful Layer 2 second-tiers.However, it is indeed already watching Ethereum’s Gas at 1 Gwei.What exactly is wrong with Ethereum?
What’s wrong with Ethereum?
Ethereum is not a problem as a whole. It is the most powerful smart contract platform, the most decentralized, and the most prosperous ecosystem, whether it is EVM applications or the second-layer chain.There is no problem with the technology route. Vitalik’s updated roadmap on the last day of 2023 is still effective, guiding the development of Ethereum in the next three to five years.
Vitalik has also published a lot of articles this year, each of which is very important.
Is the problem with Ethereum lacking Meme?
I don’t think so.Solana’s celebrity Meme heat made it a bit like Las Vegas.Ethereum has always been like Wall Street, and it is not a reasonable choice to transform Wall Street buildings into Las Vegas.At most, it is to build an Atlantic City near the distance.
What is the problem with Ethereum?
First of all, we have been solving technical problems, but what exactly do these technical problems do?
For example, in Vitalik’s discussion today, the final settlement speed is of course important.
Ethereum is now too much like the famous Xerox Institute PARC, and Jobs “stole” a lot of things from here.The vision should be to create products that are available, like Apple and Microsoft.
The problem with Ethereum is, as Twitter user Emmanuel AwosikaI’ve been talking about it latelyLack of marketing.In my opinion, it’s not lack of marketing, it’sLack of basic vision and positioning.There are no answers to the following questions:Vision: What is Ethereum?What products does Ethereum offer?What will Ethereum be next?Ethereum is now similar to Bell Labs.Do you know what its name is now?——Nokia Bell Laboratory.
Will the rise of ETH and the passage of ETFs solve the problem of Ethereum?
Won’t.Ethereum had a major “speculation” in the last round, which was through a large number of NFTs at that time.Isn’t it a bit ridiculous now? Why so many people suddenly appeared at that time?Of course, there were also excellent non-NFTs at that time, such as Vault 4626 and AA 4337.
Source: https://github.com/ethereum/EIPs/tree/master/EIPS
Ethereum L2 can be said to be in a very unhealthy state at present.Of course we can say that flowers are blooming, but look at them from a different perspective.Twitter user Jewish Director Zhao (@zchrhrhrhr)The analogy is particularly good (of course only Chinese people understand it):“The God of V is the Emperor Xian of Han in Web3”It is the one who Cao Cao used the emperor to command the princes, and was also known as “Emperor Xiaomin” in history.”
Some people say that Ethereum Gas is low because the transactions are all running up L2, and the transaction volume of L2 is very large.This actually means that I am still there in the Eastern Han Dynasty.Well, it’s not a big deal, even if L2 is right.But at present, as an ecosystem, isn’t its problems “fragmented”?The high fragmentation of assets was already very serious when the previous round of L2 was not too much.
Isn’t the high degree of fragmentation of assets the core issue of Ethereum as an ecosystem?But can this problem be solved by Polygon AggLayer, OP Superchain, cross-chain bridge/various interoperability services?It is obviously not solved, but this problem never seems to be carefully considered by the Ethereum Foundation.Of course, Vitalik did discuss it.
A few days ago, I saw a particularly funny person. The founder of ZK Rollup said, don’t be sad about Blast, come to us for tasks and help us get on TVL.The subtext is, this time I will definitely not say that you are “electronic beggars”.But, don’t you find this funny after watching it?Ethereum L2’s TVL is all like this, what’s the use?Check out the current cross-chain bridge usage of ZK Sync.
Then Twitter users encrypted the message(@thecryptoskanda)This article is great, especially the distinction between “mass adoption” vs “mass admission”.My opinion is this thread as mentioned earlier. Ethereum’s dream is Wall Street, New York, and there is an Atlantic City next to it, but it is unrealistic to directly transform the Wall Street building.
In the Ethereum narrative, what is still attractive now is what Rubin said:Global Settlement LayerGlobal Settlement LayerThis is also why its Gas is worried when it comes to 1 Gwei. If settlement disappears, can it still be the global settlement layer?
If Ethereum is the global settlement layer, then what is Bitcoin Chain?The narrative of BTC is simpler. What payments were there before, etc., but now it is the store of value.In the upcoming report of “Modular Blockchain”, I would like to say that the power of Ethereum L2 and BTC L2 is different, one is gasoline and the other is electricity.The driving force of Ethereum L2 is application, and the driving force of BTC L2 is the asset BTC.
Just now, “We are not saying Ethereum is dead, we are saying Ethereum, you should work hard quickly :)”From the perspective of infrastructure infra, no chain currently has a complete Ethereum architecture.
What is Solana’s narrative?Mert just made an interesting point:A global, uncensored broadcast where you broadcast information from somewhere in the world and it will be spread to other places as quickly as possibleThis seems to be a duplicate Web2.0, but it makes sense.The spread of Web3.0 will be trustworthy.(No permission required will be another feature)
NathanInteresting point of view:“Ethereum is an open source technology community, while EVM L2 is a consumer product, just like Android and various mobile phone brands with Android as the system.”It’s an interesting angle.But I don’t agree that Ethereum is just a technology community.Ethereum itself is a product, and the second layer is just a distributor.——Distributer of block space.
Is the Ethereum roadmap centered on Rollup still valid?In October 2020, Vatalik issued a statement to confirm this roadmap, and it has been developed based on this roadmap.I think this roadmap is still valid, but there are several problems to be solved:
1. The liquidity fragmentation issue discussed above
2. Do Rollup must be lasting?Altlayer’s temporary Rollup is good
I agree with these two questions:
1) Lack of large-scale applications – There are no new applications in this round
2) Unreasonable capital structure – VCs are heavily betting on infrastructure.
The problem with the Ethereum ecosystem itself is that although it has developed a lot of infrastructure, it is hardly prepared for the application cycle.According to the basic/application rotation cycle, the application cycle will come back soon. How to deal with Ethereum?
Recently, Ethereum’s USDT transfer can be lower than Tron.Tron is very controversial, but in terms of the transfer scenario, it was a really good job.I remember it should be in Messari’s annual report at the end of last year, Messari CEOBig Quatqua Tron’s stablecoin transfer this.Tron’s agreement revenue is a billion a year.
