Author: Francesco
Compiled by: Block Unicorn
Introduction
Ethereum has been at a crossroads for the past few years.
Increasing criticism has led to changes in the foundation's leadership, with expectations for broader review to enhance transparency and participation, and to focus more on value capture at the L1 level.
In the past, it was rare to see executive directors speaking in multiple panel discussions at Ethereum conferences. This week, I was pleased to see Tomasz K. Stańczak (Co-Executive Director of the Ethereum Foundation) participating in as many events and panel discussions as possible.
This is truly refreshing, and I hope this signals the direction of future developments.
So... what is the future vision of Ethereum?
How do we ensure this vision is executed well?
This article provides an overview of the vision for Ethereum.
Goals
To have a structured vision, one must start with objectives.
For Ethereum, the main objectives are as follows:
1. Return to the spirit of crypto, how to protect privacy and trustless features.
It's not just about attracting new users, but ensuring they can leverage these values and spirit to build upon.
Build, indeed, but with purpose and values.
2. Ensure that Ethereum remains the most secure and resilient blockchain infrastructure.
This echoes Vitalik's post about 'trillion-dollar security'.
This is part of a broader discussion about security:
How to enhance Ethereum's security?
How to effectively communicate this to users?
How to ensure that both institutions and users can fully leverage this?
Most importantly:
How do we ensure that all technological developments continue to uphold the core spirit and values of Ethereum? There are no shortcuts and no compromises.
Recently, many have criticized Ethereum and felt somewhat distanced from developers.
However, this situation seems to be about to change.
In fact, we can expect the Ethereum Foundation to take a slightly more proactive approach and formulate new funding policies. Thomas stated that this will be used to explore efficient and sustainable DeFi protocols and strategically allocate funding, shifting from a passive mode to guided management.
This is just one of a series of challenges that will profoundly impact Ethereum's long-term future, including:
Regulatory clarity
AI adoption
Privacy issues
One key aspect and recent major trend is the increase in institutional adoption rates.
The future vision of Ethereum is to treat various fields and industries as modular components, making them open-source and removing intermediaries.
In turn, these modules will ensure a smooth transition from Web2 to Web3, eliminating friction between institutions.
Imagine health agencies from different countries being able to open and contribute to health data repositories. All of this is secured through interactions on the Ethereum chain, ensuring the safety and verifiability of these solutions.
The ultimate goal? To allow users to trade all global assets on-chain.
Challenges
However, to achieve this goal, Ethereum needs to address some major challenges and confusions faced by users.
Therefore, future focus will be on addressing some major challenges related to on-chain privacy and identity, and tackling the threats of artificial intelligence by making Ethereum a trusted layer for AI execution.
Trustworthy neutrality.
Globalization.
Privacy and security by design.
All of this will create a diverse environment, establishing a social structure that allows different participants to collaborate, with the ultimate goal of making Ethereum a robust network.
To truly resist centralization, it is essential to ensure participation from around the world, incorporating diverse voices and approaches to build a truly global network.
This will enable Ethereum to listen to important issues and empower diversity.
Hearing news about the tension between L1 and L2 is also refreshing, as the Ethereum Foundation clearly stated that there is no opposition between them.
Conversely, Ethereum will more actively guide how to ensure these L2s reach the second phase, protecting users through Ethereum as the underlying base layer.
Last but not least, we have seen the emergence of real-time blockchains like MegaETH, as well as other fast networks like Monad and Hyperliquid.
This has also raised questions about interoperability and integration:
How to ensure they connect with the Ethereum mainnet?
How to build a blockchain with a 25-millisecond block time that inherits Ethereum's security parameters?
Therefore, new tools need to be introduced to verify at which levels new challenges can be identified and ensure that clients can integrate with these networks.
This opens up a new creative space for client development.
All Ethereum client teams agree that each block consumes 45 million or even 60 million Gas, with the goal of reaching 100 million Gas by the end of this year or the first quarter of next year.
Internal restructuring will help achieve this goal, with modular teams dedicated to common objectives:
Scaling L1
Scaling Blob
Improving user experience
Enhancing interoperability
You heard it right: scaling L1 (previously overlooked area) is one of these goals.
I am personally optimistic about Ethereum, welcoming this awakening and hoping to see its further progress.
