The New Dawn of the "World Computer": A Glimpse into the Future of Ethereum

Recently, controversies surrounding Ethereum have been constant. Some believe that Solana will surpass Ethereum, while others think that the Ethereum ecosystem is in decline. However, is this really the case?

Looking back at 2017, the user experience in the crypto world can be described as simple and direct: transactions were fast, fees were low, operations were easy, and wallets didn't require network switching. Today, Ethereum is redefining this "simple yet powerful" experience, going even further. Just like the "same tracks for carts, same script for writing" during the Qin Dynasty, Ethereum is adopting a modular strategy to reconstruct its underlying architecture: the mainnet focuses on security and settlement, while Layer 2 is responsible for performance and user experience.

Imagine a world where smart contract wallets are increasingly popular, and the transfer fees on Ethereum are as low as one cent. Users enjoy a smooth application experience on the chain, akin to Web2. These scenarios are becoming a reality. Technologies like Rollup, EIP-4844, and account abstraction are building a seamless, flexible, secure, and unified Ethereum ecosystem.

Ethereum Mainnet: The Indestructible Foundation of Trust

Although high-frequency trading is migrating to Layer 2, and certain platforms have seen growth in stablecoin share, the Ethereum mainnet remains the core hub for capital, protocols, and developers.

1. Data proves economic dominance

On-chain data shows that the total locked value of Ethereum is approximately $62 billion, far exceeding other blockchain networks. Its stablecoin market capitalization exceeds $126 billion, making it the largest stablecoin issuance and circulation network in the world. At the same time, the Ethereum ecosystem is a major contributor to the monthly trading volume of hundreds of billions of dollars in decentralized exchanges (DEX).

2. Strategic Shift: Building a Safe Foundation for Trillion-Dollar Assets

Currently, Ethereum is focusing on becoming the most neutral and secure settlement layer for global finance and digital assets. The "Trillion Dollar Security" plan proposed by the Ethereum Foundation aims to build a solid foundation capable of supporting assets the size of the entire UK stock market, paving the way for "everything on-chain."

3. Institutional Entry: Traditional Finance Building the Future on Ethereum

From the digital currency projects of some large banks to the on-chain funds of certain asset management companies, and to blockchain projects of other financial institutions, Wall Street is building the future on Ethereum. With the implementation of regulatory frameworks like MiCA, barriers to the large-scale entry of compliant funds have been cleared.

Layer2: The Growth Engine Fully Erupted

The scaling of Ethereum has transitioned from concept to reality, and a new division of labor is forming in the blockchain world:

1. Cost plummets, trading volume surpasses the mainnet

Currently, the total daily trading volume of mainstream Layer 2 has far exceeded that of the mainnet, with the key being a cost reduction of 10 to even 100 times. This has made "free trading" a possibility rather than just a commercial vision. With some brokers entering the tokenized stock market, Layer 2 will welcome a wave of higher frequency and more diverse trading.

2. Dencun Upgrade: Opening Exclusive Highways for Layer 2

The Dencun upgrade introduces "Blob"—a temporary data space designed specifically for Layer2. It operates independently of the mainnet's expensive permanent storage, drastically reducing the data publishing costs for Layer2 by 100-200 times, which is a key part of the scalability revolution. Subsequent technologies like PeerDAS and ePBS will further expand this data highway.

Account Abstraction: The Final Mile to the Mass Market

If Layer 2 solves the problem of "costly", then account abstraction aims to address the "usability" issue. This is the final hurdle for Web3 to welcome the next billion users.

The goal of account abstraction is to transform wallets into programmable "smart accounts," bringing a revolutionary user experience:

1. Say goodbye to Gas fee worries

In the future, when using DApps, users will no longer need to worry about Gas and buying Ether. Through the Paymaster mechanism, DApps can pay Gas on behalf of users, or users can pay directly using stablecoins. Transactions will become as natural as breathing.

2. End mnemonic anxiety

Users can recover their accounts through social recovery (verified by friends and family) or email recovery (using zk-Email technology), making it simple and secure.

3. Web2-level smooth login and payment

• Passkey: Authorize transactions directly using face or fingerprint recognition, making complex concepts like private keys and signatures completely invisible.
• Session Key: When playing blockchain games or engaging in high-frequency operations, a one-time authorization allows for unlimited play within a specified time, without frequent interruption for signatures.

A Unified Landscape: When "On-chain Islands" Connect to Form a Continent

Having solved the challenges of "expensive" and "difficult," the final challenge of the Ethereum ecosystem is fragmentation. Assets and identities are trapped on different Layer 2 islands, and cross-chain experiences remain complex and slow.

Interoperability technology is the key piece of the puzzle that connects these islands and builds a unified continent.

• Intents: From "how to do" to "what to do"

In the future, users will only need to express their final goals, and the professional "Solvers" in the system will automatically calculate and execute the optimal path, with the entire process completed in the background, completely unaware to the users.

• Shared Sequencer: Enables atomic cross-chain operations

It ensures that a complex cross-chain transaction either succeeds entirely or fails entirely, completely eliminating the risk of asset loss during the cross-chain process, providing a solid foundation for complex cross-chain applications.

• Cross-chain session key: The ultimate combination of account abstraction and interoperability

One authorization allows DApps to automatically perform tasks for users across multiple chains. For example, with one click, idle assets on multiple Layer 2s can be automatically staked into the protocol with the highest yield across the network.

The ultimate experience of the future will be: users initiate an "intention" through a single biometric verification. Then, the Paymaster pays the Gas for the user, the Solver plans the path, and the shared sequencer ensures security, allowing assets to flow seamlessly between multiple Layer 2s, and finally settling on the Ethereum mainnet.

The front end is as smooth as Web2, and the back end is a highly collaborative modular network. This is the vision of "Unified Ethereum."

Welcome to "Unified Ethereum"

The unified Ethereum has begun to become a reality. The mainnet ensures trust, Layer 2 provides performance, account abstraction opens up access, and interoperability technology seamlessly connects all of this.

In this new paradigm, Web3 wallets will play a more important role, not just as simple wallets, but as smart gateways into a unified ecosystem, personal assistants for managing programmable accounts, and reliable guides for obtaining the best experience in a multi-chain world.

We are standing at the starting point of a brand new value internet - it is unified, open, user-friendly, and unprecedented.