Ethereum: The Emerging Blockchain Giant

Ethereum, as an important representative of the blockchain industry, has recently performed poorly, with its price lagging behind competitors such as Bitcoin and Solana. However, it is undergoing a series of important reforms, including a renewed focus on Layer 1 scaling and organizational restructuring, which has garnered market attention. This article summarizes industry experts' views on Ethereum's current challenges, reform directions, and future prospects.

Major Issues Facing Ethereum

1. The Layer 2 roadmap is inconsistent with the core values of Ethereum, and the profits from Layer 2 projects have not been reinvested into Ethereum itself.

2. The progress of the project is slow, with each upgrade taking 1-2 years, making it difficult to keep up with the innovation pace of competitors.

3. Excessive pursuit of decentralization sacrifices efficiency, and the current policy environment has reduced the demand for decentralization.

4. Low研发效率, there is a disconnect between the research team and the development team.

5. There are fewer new business models and innovations on the chain, and the activity level is not as high as in the previous bull market.

Ethereum's reform trends

1. Refocus on Layer 1 scaling, aiming to improve performance by 10 times within 1 year and 100 times within 4 years.

2. Seek a more pragmatic balance between decentralization and efficiency, and relax equipment requirements.

3. Restructure the organization and lay off employees, focusing on core business.

4. Introduce new executive directors to strengthen engineering and research capabilities.

5. Actively optimize client performance, such as Geth and Nethermind have achieved a 3-5 times performance improvement.

Experts' Views on the Outlook of Ethereum

Most experts hold a "cautiously optimistic" attitude towards Ethereum:

• Advantages: large developer ecosystem, leading position in the DeFi field, brand influence.

• Hidden concern: whether the decision-making level can truly accept change and maintain the momentum for innovation.

• Looking forward to seeing:

1. Vitalik is more candid in acknowledging past mistakes and making positive changes.
2. Ethereum has become more aggressive, not overly pursuing caution.
3. The Ethereum team listens better to the community's voice and strengthens interaction with various stakeholders.

Overall, Ethereum remains the core force in the blockchain industry, but it needs to find a balance between staying true to its original intentions and keeping up with the times in order to maintain its leading position in future competition.