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"Ethereum Chinese Weekly"

——Building an Information Bridge for Chinese Ethereum

Introduction to "Ethereum Chinese Weekly"

Every Monday at 2 PM (UTC+8), the Ethereum Chinese Weekly invites well-known project engineers, KOLs, and others from the Web3 industry to share insights on Ethereum industry topics, interpretations of reports from renowned institutions, analyses of new projects, hot topic reviews, and more.

The "Ethereum Chinese Weekly" (hereinafter referred to as "Weekly") gathers the exciting content from the "Ethereum Chinese Weekly" meetings, capturing the latest news and in-depth analyses, continuously delivering the freshest and most substantial content to you.

The Ethereum Chinese Weekly and the "Weekly" are jointly initiated by Web3BuidlerTech and ETHPanda, with support from communities like LXDAO.

Together with you, we are building an information bridge for Chinese Ethereum.

Ethereum Chinese Weekly Video

The exciting content of this issue can be accessed via the following link, or click the original text:

YouTube:

https://youtu.be/5BybKfmj4Sc

Materials for this issue:

https://www.notion.so/web3buidler/Web3BuidlerTech-702bd1ab80a7422586f1edac1917fa9c

Table of Contents

This issue of the "Weekly" consists of 2 parts, taking approximately 10 minutes to read.

1. Overview of Industry Information from Last Week

• Blockchain News

• Data Trends

1. In-Depth Content Analysis

• Paradigm Launches Proto: The Next Generation of Ethereum Accounts

• Ryan Berckmans' Comments on Max Resnic's Move to Solana

• VanEck's Top Ten Predictions for the Crypto Market in 2025

• Bitwise's Top Ten Cryptocurrency Predictions for 2025

• Case Study on DeFi + AI Agent

Overview of Industry Information from Last Week

(December 9 to December 15)

Blockchain News

1. Christine Kim, Vice President of Research at Galaxy, summarized the 147th Ethereum Core Developers Consensus (ACDC) call. This week, developers are still finalizing the specifications for the launch of Pectra Devnet 5; Mekong (a public Pectra Devnet based on Pectra Devnet 4 specifications) is currently running stably, with no recent reports on network health; EF engineer Barnabas Busa proposed removing the feature that allows validators to change block gas limits; additionally, developers agreed to remove EIP 7742 (which cancels the coupling of Blob counts between CL and EL) and instead double the Blob count in Pectra by changing the genesis configuration of the client.

• Learn more:

  https://www.galaxy.com/insights/research/ethereum-all-core-developers-consensus-call-147/

1. Vitalik Buterin believes that Deep Funding combines the concepts of "value mapping" and "refining human judgment":

• Value Mapping: Instead of directly asking "How much does X contribute to humanity?", it is better to ask "How much of Y's contribution belongs to X?". Abstractly measuring contributions is difficult, but local comparisons are easier to handle, such as "Which is more valuable for C, A or B?".

• Refining Human Judgment: In an open AI market, anyone can provide weight allocation suggestions for all edges of the mapping, which are then reviewed in detail by a human jury on randomly sampled edges. The submissions that are most compatible with jury judgment will determine the final output.

• Vitalik mentioned that the first concept (value mapping) has gradually become a popular paradigm because abstractly measuring contributions is extremely difficult; the second concept (refining human judgment) comes from his information finance concept, where AI provides suggestions and a human jury verifies them, resulting in more reliable value judgments.

• Learn more:

  https://x.com/VitalikButerin/status/1867886974058520820

1. Ethereum Foundation researcher Toni Wahrstätter pointed out in a recent article that expanding the Ethereum block gas limit presents technical challenges and called for patience from the community.

• The Ethereum community is discussing raising the gas limit, a change that could enhance network capacity but also pose risks to stability and security. Wahrstätter emphasized the limitations related to the consensus layer (CL) client specifications, stating that without a significant protocol upgrade, it is impossible to exceed the current 36 million gas threshold.

• Meanwhile, Ethereum developers are preparing for the Pectra 2 network upgrade to address these challenges. This hard fork includes two key proposals aimed at laying the groundwork for higher gas limits.

• The first is EIP-7623, which reduces the worst-case block size by mitigating DoS risks and achieving safer capacity increases; the second is EIP-7691, which increases the target and maximum number of blobs per block, providing empirical data on network performance under higher storage and propagation demands.

• Learn more:

  https://ethresear.ch/t/on-increasing-the-block-gas-limit-technical-considerations-path-forward/21225

1. Starknet posted on the X platform stating, "Just a reminder, Starknet has quantum-resistant proof mechanisms in place."

• Learn more:

  https://x.com/Starknet_ZH/status/1866665893654303177

1. Shea Ketsdever, a researcher at Ethereum infrastructure service Flashbots, stated on social media that Flashbots will no longer operate centralized block builders on Ethereum. Flashbots has migrated its builders, order flow, and refunds to the decentralized Ethereum block building network BuilderNet.

• Learn more:

  https://x.com/SheaKetsdever/status/1866124213628936418

1. Uniswap Labs announced on the X platform that it has launched a new feature in its Chrome browser extension wallet, allowing users to exchange cryptocurrencies and perform cross-chain operations directly in the browser by pressing the shortcut cmd + shift + U.

• Learn more:

  https://x.com/Uniswap/status/1866165764148830576

1. Circle announced on the X platform that it plans to launch a new version of CCTP (Cross-Chain Transfer Protocol) V2 on the Ethereum mainnet, Base, and Avalanche in early 2025, with plans to roll it out on more chains afterward. The new version will feature faster transfer speeds and low-latency settlements (in seconds).

• Learn more:

  https://x.com/circle/status/1866121331239969152

1. EigenLayer released its second EigenLayer Improvement Proposal (ELIP-002) on social media: the Slashing mechanism.

• This ELIP proposal introduces a slashing mechanism for the EigenLayer protocol to enhance cryptoeconomic commitments and provide tools for AVS (Active Validation Services) to innovate and reward high-quality service operators. The proposed slashing mechanism integrates two new concepts introduced by Eigen Labs: Unique Stake and Operator Sets, allowing AVS to penalize operators for unfulfilled commitments (such as computational errors or liveness issues).

• Unique Stake ensures that each AVS has exclusive punishable stakes, reducing systemic risk. Operator Sets allow AVS to segment tasks and operators for better accountability and reward distribution.

• Learn more:

  https://x.com/circle/status/1866121331239969152

1. Arthur Hayes, co-founder of BitMEX, stated on social media that "the number of new developers on the Aptos chain will exceed that of Sui and Base in 2024."

• Learn more:

  https://x.com/CryptoHayes/status/1867476566525030612

1. Google CEO Sundar Pichai announced the launch of the next-generation quantum computing chip, Willow, which features 105 qubits and low error rates. It is reported that Willow can perform calculations that would take modern supercomputers 10 quintillion years to complete in just 5 minutes. Cryptocurrency venture capital expert Adam Cochran stated that this breakthrough reduces the time for the crypto industry to address quantum computing risks to less than 10 years.

Data Trends

1. L2BEAT Data (as of December 19, 2024):

• Learn more:

  https://l2beat.com/scaling/tvl

1. The top three chains with the most USDT holding addresses are: TRON with 49.88 million USDT holders; Ethereum with 5.99 million USDT holders; and Polygon with 4.6 million USDT holders.

2. Tether's second insight report shows that as of early Q4 2024, there are 109 million on-chain wallets holding USDT, more than double the number of Bitcoin holders, and close to Ethereum's 128 million wallets. Additionally, there are 86 million accounts holding USDT on centralized systems.

• The report indicates that in the first three quarters of 2024, centralized exchanges received a total of 4.5 billion web visits, with 46% of the traffic coming from emerging markets, where a large number of users only buy, hold, and send USDT within exchanges.

• Data shows that the number of USDT on-chain wallets is four times that of all other stablecoins combined. As of November 1, approximately 54 million on-chain wallets hold more than 1 cent of USDT, which is four times the 13.8 million wallets holding all other stablecoins combined. This study covers 97.5% of the stablecoin supply across 25 stablecoins on 10 blockchains.

In-Depth Content Analysis

Paradigm Launches Proto: The Next Generation of Ethereum Accounts

Porto is a next-generation account abstraction library aimed at developers, designed to simplify the integration and management of crypto accounts, providing a seamless user experience. It supports EIP-1193 compatible Providers, allowing for seamless integration with WebAuthn accounts and existing wallet processes, while simplifying developers' implementation of account creation, connection, recovery, and other operations through experimental JSON-RPC methods and integration with Wagmi. Porto also offers cross-chain transactions, privacy protection, and no QR code scanning, ensuring a smooth experience for users between applications and wallets. Developers can easily integrate Porto through its modular design, promoting the rapid development of decentralized applications.

Learn more:

https://www.ithaca.xyz/updates/porto

Ryan Berckmans' Comments on Max Resnic's Move to Solana

Ryan Berckmans commented on Max Resnic's move to Solana, stating that Solana is trying to learn from Ethereum to address its shortcomings, rather than the other way around. He emphasized that Ethereum has achieved scalability through a decentralized Layer 1 and a thriving Layer 2 ecosystem, while Solana faces issues of high centralization and cannot achieve true decentralization through capital alone. Additionally, Ryan pointed out that Solana's monolithic architecture is about to be surpassed by Ethereum's Layer 2 solutions, with the limitations of its technology and ecosystem growth becoming increasingly apparent. Ultimately, Ryan described Solana as a "paper tiger," relying on funding support rather than long-term sustainable technology and decentralization strategies, believing that Max's joining is merely a reflection of this status quo.

Learn more:

https://x.com/ryanberckmans/status/1866249092503838950

VanEck's Top Ten Predictions for the Crypto Market in 2025

VanEck has made ten predictions for the crypto market in 2025, covering market development, technological trends, and ecosystem growth. Among them, it is expected that Ethereum's data block space will generate $1 billion in fees, the total trading volume of decentralized finance (DeFi) will reach $4 trillion, the total value locked (TVL) will rise to $200 billion, and the NFT market trading volume is expected to recover to $30 billion. Additionally, on-chain activities of AI Agents will exceed 1 million, and the performance of decentralized application (DApp) tokens will gradually narrow the gap with primary tokens. These predictions showcase the continued growth potential of cryptocurrencies in market scale, technological innovation, and decentralized ecosystems.

Learn more:

https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-10-crypto-predictions-for-2025/

Bitwise's Top Ten Cryptocurrency Predictions for 2025

Bitwise has released its top ten predictions for the crypto market in 2025, focusing on market performance, industry adoption, and technological development: BTC, Ethereum, and Solana will reach all-time highs, Coinbase will enter the S&P 500 and become the world's most valuable brokerage. Additionally, the AI Agent token craze will continue, stablecoin market capitalization will double to $400 billion, and the tokenization value of real-world assets (RWA) will exceed $50 billion.

Learn more:

https://s3.us-east-1.amazonaws.com/static.bitwiseinvestments.com/Research/Bitwise-The-Year-Ahead-10-Crypto-Predictions-for-2025.pdf

DeFi + AI Agent Case Study

Almanak is a decentralized quantitative trading platform that empowers users to earn profits in the DeFi ecosystem by providing efficient strategy-building tools and sharing profitable strategies. The platform's core lies in combining agent-based modeling with blockchain-driven Monte Carlo simulations to create a high-precision financial strategy prediction sandbox, helping users quickly identify and capture profit opportunities. Almanak incentivizes ecosystem participants, especially strategy contributors, through token rewards, driving platform development. As it is expected that 80-90% of blockchain activities in the future may be driven by intelligent agents, Almanak is well-positioned in this trend.

Learn more:

https://x.com/0xPrismatic/article/1866813956482011325

This concludes the content of this issue of the Ethereum Chinese Weekly. Thank you for reading!

Next Monday at 2 PM (UTC + 8), we look forward to sharing the next issue with you! (Joining method at the end)

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