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The latest sharing from Ethereum Foundation members is here!
Is Ethereum 2.0 going to work? OKX Web3 product manager Owen and Ethereum Foundation's Justin Drake had a sharing. It's very interesting, and I've extracted a few points.
(Saving the tweet for future reference 🥰)
1. Although the overall trading volume of ETH and L2 has not shown a rapid growth trend, assets are shifting towards L2. The Cancun upgrade has clearly attracted small-scale traders.
2. The Ethereum Foundation's "non-interference" philosophy, actively reducing its role in the ecosystem, with its main responsibilities limited to hosting Devcon or Devconnect, maintaining the Geth client, and providing millions of dollars in annual funding for projects, telephone coordination, research, and roadmap customization.
3. DeFi is expected to grow 10-fold in the next five years, with stablecoins potentially reaching $1 trillion, a significant portion of which will be decentralized stablecoins.
4⃣Ethereum 2.0 still faces many obstacles in attracting new users and developers to adopt it on a larger scale. For example, for ordinary users, the GAS cost is relatively high, the learning cost is high, the competition for new platforms and new technologies is extremely fierce, and there are regulatory and compliance challenges.
5⃣The shift from POW to POS consensus mechanism promotes Ethereum to be more decentralized. Its goal is to be a "world computer", and all improvements and upgrades must move towards this goal.
6⃣The fragmentation of Layer2 liquidity and the split of UI caused by competition are becoming increasingly obvious, but competition will eventually push liquidity to the top Layer2. Web3 wallets and chain abstractions such as OKX are looking for solutions for liquidity splits.
7⃣Future development direction of Ethereum scalability: Layer2 will develop further and complement the main chain; the main chain will continue to be optimized, and after the cancun upgrade, it will be cheaper to upload the main chain data.
8⃣ Staking projects such as Lido occupy too high a proportion of the staking network, which greatly reduces the degree of decentralization.
@okxchinese @drakefjustin
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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