Overview of the main points of the EthCC5 conference: the completion of Ethereum is only 55%

PANews

特邀专栏作者

2022-07-27 19:30 (UTC+8)

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A quick review of the important content of this EthCC5 conference.

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A quick review of the important content of this EthCC5 conference.

Author: Donovan Choy

Original compilation: PANews

Author: Donovan Choy

Original compilation: PANews

Last week, the Ethereum community conference EthCC5 was held in Paris, France. Many big names in the encryption field, including Ethereum co-founder Vitalik Buterin, attended the conference and delivered speeches. Now let us quickly review the important points of this conference. content.

But before we get to the point, we would like to give a thumbs up to the conference organizers, who thoughtfully prepared free macarons, POAP (Proof of Attendance Protocol), and oversized fans to cope with the high temperature.

There is also a "gift package" with the EthCC5 Logo.

First, infrastructure is undoubtedly the most important

1. The completion of Ethereum is only 55%

On the last day of the conference, Vitalik Buterin, the co-founder of Ethereum, gave a speech on the progress of Ethereum merger and the future roadmap of Ethereum. He said that Ethereum is currently in a stage of improving capabilities through rapid protocol changes, but will eventually stop making rapid changes to the protocol to prevent fluctuations in the market and overall construction, and use systems such as L2 to add value to the Ethereum ecosystem. More features. In other words, L1 will be used for safety and reliability, and L2 for fast iterative operations. Here, he mentioned the "Functionality escape velocity theory": Once L1 is strong enough, the rest can be left to L2. Developers need to rest, and new features need time to mitigate risk.When talking about how far Ethereum is from its goal, Vitalik Buterin said: "The difference between Bitcoin and Ethereum is that Bitcoin users think that Bitcoin is 80% complete, while Ethereum users think that Ethereum is 80% complete. The completion rate of Ethereum is only 40%... I would say that after the merger, Ethereum will reach 55% of this indicator. So we are getting closer and closer to the goal, and it is a long time to achieve this And on the journey of the great vision, the race is already halfway through."

The transcript of Vitalik Buterin's speech is clickablehereCheck

here

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2. Zk-Rollups are coming

I have to admit that DeFi has put a lot of effort into zk-rollup technology.

At this conference, the Polygon team announced the joint launch of zkEVM with zkSync and Scroll, a scaling solution that combines zk-rollups with EVM compatibility, which is definitely a huge breakthrough that cannot be underestimated.

Due to the complexity of Zk-rollups technology, until now it has been difficult for developers to build projects on top of it. However, with the introduction of zkEVM, developers can more easily create smart contracts using this emerging technology.

3. DeFi user experience needs to be improved

While Ethereum Layer-2 is busy improving transaction speed, many other DeFi builders are working on improving user experience in a multi-chain world.

Daniel Yanev, co-founder of the one-stop DeFi platform rhino.fi, believes that DeFi user experience is very important in a multi-chain world. Because DeFi has been innovating rapidly, it is very complicated to use. "Users are not stupid, their experience is very simple. Oops”, how to simplify operations and optimize user experience is what they are currently doing.

Now, in addition to rhino.fi's commitment to optimizing the decentralized financial experience, the DeFi aggregation platform deBridge also launched a cross-chain composability function at the ETHCC5 conference. In addition, Mounir Benchemled, founder of another DeFi aggregation platform Paraswap, was also present at the conference How they improve the DeFi user experience.

Next, let's take a look at the state of DeFi

1. The value of VeToken is highlighted

It can be said that Curve has inspired a new paradigm of "meta-governance" veTokenomics. By allowing users to lock veTokens to increase income and governance rights, governance tokens become more valuable. However, it should be noted that this model is based on sacrificing liquidity. costly.

The DeFi revenue optimization platform Stake DAO is an important participant in Curve War. Last week, they announced that liquidity lockers will be able to use their veTokens to obtain revenue, SDT incentives and governance voting rights without restrictions, thereby enhancing the value of veTokenomics. At present, this function has been launched and supports four tokens: CRV, FXS, ANGLE and BAL.

2. Cosmos DeFi has attracted much attention

Sunny Aggarwal's speech transcript is clickablehereCheck