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What is the future of Ethereum?
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The only remaining barriers of Ethereum are the funds deposited in the Ethereum mainnet and the closed-loop DEFI ecosystem. These DEFI protocols, from lending, trading, stablecoins, on-chain leverage, etc., have formed a seamless and organically combined DEFI ecosystem. When seeking liquidity for all assets entering the chain, Ethereum's DEFI is an unavoidable link.
Many people say that RWA may be an opportunity for Ethereum, and I agree with that. However, the road to RWA is long and arduous, and whether Ethereum can continue to create more and newer on-chain gameplay is still one of the most effective breakthroughs.
What if Ethereum's only remaining DEFI advantage is also taken away by new public chains such as Solana? What if Ethereum fails to improve its performance? What if Ethereum's ecological innovation is still half a beat behind the market? What if Ethereum's developers gradually leave? So, in a situation where wolves are waiting for tigers, what will happen to Ethereum, which is expensive, slow and lacks innovation? As a former Ethereum Maximalist, I still hope that Ethereum can continue to innovate, and I hope that Vitalik can continue to lead the Ethereum developer community and continuously launch more innovative applications and development paradigms, because only continuous innovation is the only barrier of Ethereum.
Ethereum represents the second possibility of blockchain technology, which is the biggest innovation after Bitcoin. The rise of Ethereum originated from ICO, which is the use of smart contracts to issue coins for financing. This is the earliest application scenario of ETH. DEFI, GameFi, SocialFi, NFT, etc. in 2020-2021 have pushed the application scenarios of Ethereum's smart contracts to a peak. At the same time, the price of ETH has also reached its peak.
In 2022-2023, Ethereum's focus will be on POS and expanding the underlying research and development direction of Layer2. The Ethereum ecosystem lacks decent application innovation or model innovation for the market and community. The Ethereum ecosystem has never seen any paradigm innovation that can surpass DEFI. Instead, competing chains such as Solana have come up with new tricks. This is the core reason why Ethereum and Ethereum ecosystem-related tokens are so depressed and weak in this cycle. When we ask about the future of Ethereum, we are actually asking about the future of the Crypto application market. The prosperity of Ethereum reflects the development of Crypto to a certain extent. After all, our industry cannot only have Bitcoin and Meme.
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