Chainfeeds Summary:
Devcon has been going on for three days, and crypto researcher qzhodl has written an article sharing his observations from the venue, the main content of the activities he participated in, and his views on Ethereum.
Source:
https://x.com/qzhodl/status/1857050109684457802
Author:
qzhodl
Viewpoint:
qzhodl: The opening ceremony opened in a lively atmosphere, emphasizing long-termism, but also acknowledging the current challenge of Layer 2 fragmentation; Justin Drake announced the idea of a major upgrade to the consensus layer, the venue was packed, and many people couldn't even get in to hear the talk, everyone was full of expectation that it would bring a new narrative to Ethereum, but after listening, the concern was that the technology is complex and the implementation time will be very long; Vitalik appeared on the Unify Ethereum Panel, and discussed with OP, Base and ARB how to achieve compatibility between different Layer 2s, and everyone agreed that although they are competitors, they need to have a unified user experience across different Layer 2s; the Q&A session was quite challenging, with a few high-voted questions rushing to the front, such as how to view the challenge of Solana, and Wen ATH? Liam Horne talked about how stablecoin adoption is the application direction of the product-market fit of a few blockchains now. USDT + TRON + Binance have developed the fastest with the flywheel effect of the three parties, and the USDC + Base Layer 2 + Coinbase in the Ethereum ecosystem are catching up with a similar flywheel. But there was no discussion of how this flywheel can be applied to decentralized stablecoins; Flashbots co-founder phildaian proposed that in his view, Ethereum is still not decentralized enough, and hopes to promote more radical geo-economic decentralization, even at the expense of user experience. But OP's Karl passionately argued on stage that the priority is to ensure a smooth user experience, for which some security can be sacrificed; Ethereum's progress in the Layer 2 strategy is good, with Layer 2 TPS already more than 10 times that of Layer 1, and user transaction fees have dropped to almost the same level as Solana, which is also a great achievement of the Ethereum community and team. Ethereum developers have a strong altruism, and their idealism has also attracted many very talented developers to participate, even the staunchest supporter of Solana, Multicoin's kyle, admits that the talent density of the Ethereum community is far superior to Solana, which is also what he envies most about Ethereum. At the same time, we have to admit that Ethereum is facing huge bottlenecks in exploring more applications and onboarding more users, as the core demand of the vast majority of existing Web3 users is financial demand, or to make money, rather than consumption. No matter how good the infrastructure is, without user adoption, it cannot stand. Whether Ethereum can explore applications that are in line with its values, that is, "computer instead of casino", is really the key to determining its fate. What the result will be, none of us have the answer.
Source
