Blockworks Research: Where will Ethereum go next?

Author: Donovan Choy, Blockworks Research; Compilation: 0xxz@作 作 作 作 作

Today, the price of BTC is $ 68,000, and the price of ETH is $ 2,700.The last price point to Bitcoin was in November 2021, when ETH’s price was around $ 4,300.

At that time, the expensive GAS fee of Ethereum was 130 GWEI (today 27 GWEI).This prompted the public at the time to announce the “abandonment” Ethereum and use other L1 chain-remember “FOAN” (Note: Fantom-FTM, Harmony-One, COSMOS -TOM and Near-Near)?

You can easily count all the active Rollup at the time.According to L2Beat’s data, at least 105 ROLLUPs are now processed with about 296 transactions per second.

The TPS of Ethereum L1 is about 13, so it is about 21 times compared to three years ago.From all aspects, this is progress.

This progress is largely due to Rollup, which is surged through Rollup as a service provider (such as the RaaS) provider, which makes it very easy and cheap to create Rollup.

The second main factor is the rise of the availability solutions of Celestia and other alternative data, and the EIP-4844 Dencun upgrade in March 2024.The latter provided a cheaper way for L2S Rollups to publish its batch data to L1 -cost about 10 times.

Everything is performed as planned.However, there is still a long way to go from the ultimate goal of Ethereum. The ultimate goal of Ethereum is to reach about 100K TPS on the “Surge” stage of the roadmap.

In order to achieve this goal, there are still many jobs to do.

First of all, Ethereum needs PEERDAS (PEER data availability sample) to expand the availability of data.Peerdas borrows some important ideas for sharing the peer -to -peer files of BitTorrent. It processs more data by distributing scattered data fragments between the Ethereum verifier nodes without the need to store everything.

Then perform data compressionThe millions of daily signatures of the trading signed by us by the Metamask wallet are more compact, so that the amount of data transmitted by ERC-20 will not exceed 30 bytes (today is 180 bytes).

This can be achieved by using BLS (Boneh-Lynn-SHACHAM) digital signature scheme to be implemented by multiple signatures as one signature that can be verified with multiple public keys at the same time, and the current ECDSA (elliptical curve digital signature algorithm) is currently stillUnable to achieve.

Next is to use PlasmaThis is an expansion solution, where the block is released under the chain, and the Merkle roots of these blocks are placed on the chain -compared with today’s Rollups, this is a huge calculation improvement. In RollUps, complete, completeThe block is submitted on the chain or via Validiums.

This is just aimed at L2.As for L1, execution needs to continue to expand, or by increasing the GAS limit of L1 block, or introducing segmented upgrades, Evm saves GAS.Methods include adjusting the EVM object format (EOF) byte code, or creating parallel computing, data and storage markets (that is, multidimensional GAS pricing).

All of this ensures that L1 will not become a “ghost chain” that is only used for settlement and DA.In the words of Vitalik, Ethereum still “requires strong enough, at least occasionally can truly handle the highly complex and chaotic shutdown of L2”, which is why “the long -term security of the network” is so important.

Finally, there are improvements in user experienceFor example, solving cross -chain interoperability problems, so that use Ethereum does not feel like using 100 different chains.This work is conducting at the level of the agreement. By developing better ERC standards (such as ERC-7683), and letting dozens of other participants work in the fields of “sharing sorting” and “chain abstraction”.

All these roadmap functions must be completed while maintaining decentralization. This requires promoting the active proof system that does not need to trust without trust -and closely pay close attention to the centralization of the MEV layer.

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