The Road to Ethereum's Scalability: Ensuring ETH Value Accumulation and the Future Development of L1 and L2

The vision of Ethereum has always been the same: to build a global, censorship-resistant, permissionless blockchain. This is a free and open platform for decentralized applications, built on the same principles as great free and open-source software projects like GNU + Linux, Mozilla, Tor, and Wikipedia.

In the past decade, Ethereum has not only innovated in cryptography and economics but has also become a social technological innovation. It showcases a more open and decentralized way of building. As a political philosopher described, the Ethereum ecosystem presents "a world with almost no gatekeepers, a world without legacy systems."

Technological projects and social projects are essentially intertwined. Decentralized technological systems require decentralized social processes to maintain them, and vice versa. After ten years of effort, Ethereum has provided useful services to people on a large scale: from savings and payments to privacy tools, decentralized DNS, social media alternatives, and providing low-risk, high-return DeFi tools for millions of people.

Currently, Ethereum is achieving scalability through Layer 2 networks (L2s). L2s have made significant progress, reaching crucial decentralization milestones, securing billions of dollars in value, expanding Ethereum's transaction capacity by 17 times, and significantly reducing fees. This has driven the rise of various applications, from DeFi platforms to social networks, to novel projects like Worldchain with 10 million users.

The two main challenges faced by L2 are scalability and heterogeneity. The blob space is almost unable to meet current demand, let alone future demand. At the same time, the heterogeneity between different L2s poses issues for developers and users in terms of composability and user experience.

To address these challenges, Ethereum needs:

• Accelerate the expansion of blob space
• Moderately expand the EVM and gas limits of L1
• Improve the security of L2
• Improve interoperability standards between L2s
• Accelerate L2 deposit and withdrawal speed
• Encourage the diversity of L2 while ensuring basic interoperability.
• Ensure that ETH can still accumulate value in a world dominated by L2.

Specifically, we need:

1. Significantly increase the number of blobs per time slot, with the goal of ultimately reaching 100,000 TPS per second.

2. Improve the security of L2 through various means, including the use of multiple proof systems and formal verification, as well as exploring the possibilities of native rollups.

3. Promote interoperability standards between L2s, including chain-specific addresses, standardized cross-chain bridges and messaging, faster deposits and withdrawals, and reading L1 state from L2, etc.

4. Adopt a multifaceted strategy to ensure the economic value of ETH, including solidifying ETH as a primary asset, encouraging L2 support for ETH, partially supporting rollups based on rollups, and viewing blobs as a potential source of revenue.

Ethereum has matured into a powerful technology and social ecosystem, but there is still a lot of work to be done. L2 developers need to contribute to blob expansion, EVM execution expansion, and L2 interoperability. Wallet developers need to implement standards that make the ecosystem more seamless for users. ETH holders and community members need to actively participate in relevant discussions. The future of Ethereum requires the active participation of each and every one of us.