Ethereum's New Vision: More Focused, More Pragmatic

In recent years, Ethereum has faced numerous challenges. Continuous criticism has prompted adjustments in the leadership of the foundation, leading to efforts to improve transparency and participation, while placing greater emphasis on value capture at the Layer 1 level. Recently, Tomasz K. Stańczak, the co-executive director of the Ethereum Foundation, has actively participated in various activities and discussions, signaling a new direction for future development.

Core Objectives

The main goals of Ethereum include:

1. Return to the spirit of crypto, protecting privacy and the trustless nature. Not only attract new users but also ensure they can understand and practice these values.

2. Maintain the position of the most secure and resilient blockchain infrastructure. This involves how to enhance security, communicate security to users, and ensure that institutions and users fully leverage this advantage.

3. Ensure that technological development always upholds the core spirit and values of Ethereum, without taking shortcuts or compromising.

The foundation plans to take a more proactive approach to develop new funding policies aimed at exploring efficient and sustainable DeFi protocols and conducting strategic fund allocation.

Future Vision

The vision of Ethereum is to treat various fields and industries as modular components, making them open-source and removing intermediaries. This will ensure a smooth transition from Web2 to Web3, eliminating friction between institutions. For example, health agencies in different countries can open and contribute health data repositories, ensuring security and verifiability through interactions on the Ethereum blockchain.

The ultimate goal is to allow users to trade all global assets on-chain.

Facing Challenges

To achieve this vision, Ethereum needs to address several key challenges:

1. Enhance on-chain privacy and identity recognition.
2. Build Ethereum as a trusted layer for AI execution to address the challenges posed by AI.
3. Maintain credible neutrality, globalization, and design privacy and security.

These efforts will create a diverse environment, establishing a social structure where different participants can collaborate, ultimately making Ethereum a resilient network.

Synergy between Layer 1 and Layer 2

The Ethereum Foundation emphasizes that there is no opposition between L1 and L2. On the contrary, Ethereum will more actively guide how to ensure that these L2s reach the second phase, protecting users through Ethereum as the underlying base layer.

Technological Innovation

We have seen the emergence of real-time blockchains, such as MegaETH, and other fast networks. This raises questions about interoperability and integration, specifically how to ensure they connect with the Ethereum mainnet and how to build high-speed blockchains that inherit Ethereum's security parameters.

All Ethereum client teams agree to raise the Gas limit for each block, aiming to reach 100 million Gas in the near future. Internal restructuring will focus on achieving common goals: scaling L1, expanding Blob, improving user experience, and enhancing interoperability.

This new development direction is promising, and I believe Ethereum will continue to maintain its leading position in the blockchain field.