Chainfeeds Summary:
At Devcon SEA, Ethereum Foundation researcher Josh Stark led us through a review of this year's Ethereum ecosystem. The Chinese version was compiled and published by Foresight News.
Source:
https://foresightnews.pro/article/detail/71399
Author:
Josh Stark
Viewpoint:
Josh Stark: Ethereum is changing the world because it solves problems for people. Developers around the world are using Ethereum to build what users want. But Ethereum is not just one thing - it is a platform that serves a multitude of use cases. One of those use cases is stablecoins. Stablecoins give everyone the freedom to transact: to send money home to family or to save. I think they are still underappreciated - stablecoins fundamentally enhance the freedom of people globally. Ethereum is also the birthplace of DeFi. These applications leverage Ethereum's unique properties to build non-discriminatory, uncensorable financial products and give people better control over their own money. DeFi was invented on Ethereum, and the Ethereum ecosystem remains its home. Today, around 60% of the value in DeFi applications is stored on Ethereum or Ethereum L2s. New things like the social networks Farcaster, Lens, and Zora use Ethereum to let users control their own identity and even share in the platform's growth. Decentralized identity systems like ENS and AnonAadhaar give users options that centralized or traditional IDs do not. Real-world infrastructure like Glow uses the Ethereum ecosystem to incentivize hundreds of solar power plants. When we look across the application layer of Ethereum, what do we see? Ethereum has the oldest, most mature use cases: money, stablecoins, DeFi; and Ethereum is where new things are being born, and Ethereum has the best developer ecosystem. Looking across our ecosystem, seeing the confidence and excitement in every domain of use cases, I can fairly say that Ethereum's ambition is to grow in every dimension. Behind each application is the technology layer, which includes Ethereum L1 and L2 networks. Over the past few years, the Ethereum ecosystem has made massive investments in improving this underlying infrastructure. Ethereum is the only blockchain with enough real-world demand to push it to the limits, and that requires true scalability without compromise - a difficult but necessary path. Most of the investment has been around L2s or Rollups. I won't go into the details here, but I want to provide a very simple mental model that anyone can understand. The idea behind L2s is simple: the core is Ethereum L1 - the native smart contract platform and the world's most secure blockchain. But the "surface area" available for developers and users on L1 is limited, which means it may be relatively expensive. The outer layer is Ethereum L2s, which are networks built "on top" of L1, and they expand its surface area. L2s provide more space for developers and users, thereby reducing costs, but because they can connect to Ethereum in specific ways, they are very secure. To understand the state of Ethereum today, we must talk about ourselves! The Ethereum community has become so large and broad that it's hard to grasp. One incredible feature of the Ethereum community is its true internationalization. There are multiple user and enthusiast communities in every region of the world, as well as developers contributing to applications, L2s, and research. Nothing could be better than this. But our community has another quality that is not so obvious. I don't have fancy charts to prove this, but perhaps you've noticed it. Over the past few years, our community has not only grown larger, but also deeper - it has matured.
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