In the past year, Ethereum has made tremendous new progress, from game-changing Layer 2 upgrades to solidifying its position in mainstream finance.

Written by: Kazu Umemoto, Bankless

Translated by: Bai Shui, Golden Finance

As we gather this Thanksgiving, it’s the perfect time to reflect on what inspires gratitude— for the Bankless community, Ethereum naturally stands out like a star.

In the past year, Ethereum has made tremendous new progress, from game-changing Layer 2 upgrades to solidifying its position in mainstream finance.

However, beyond its technical and economic potential, what truly sets Ethereum apart is the vision driving it forward and the passionate community turning that vision into reality.

With that in mind, let’s take a moment to highlight 5 things to be grateful for in the Ethereum ecosystem in 2024.

1) Blobspace

In March 2024, Ethereum implemented the Dencun upgrade, introducing native danksharding (EIP-4844) and fundamentally transforming its scalability. At the core of this innovation is the "blob," a new type of transaction that allows L2 networks to publish bundled data to Ethereum at a fraction of the previous cost.

Since then, L2 transaction fees have plummeted, with fees on certain networks dropping by 99%. This significant reduction in costs has opened the door for a broader range of users and applications, from DeFi to on-chain gaming. As a result, Ethereum's vision for a truly accessible decentralized future is closer than ever.

2) Pectra Upgrade Preparations

After the Dencun upgrade, the Ethereum community is not resting on its laurels; it has made considerable progress on the next major evolution, Pectra. Pectra is expected to be the most ambitious upgrade in Ethereum's history, set to launch in early 2025, implementing a wide range of Ethereum Improvement Proposals (EIPs) aimed at enhancing scalability, performance, and user experience across the network.

For example, EIP-2537 will improve validator efficiency and reduce gas costs, while EIP-7594 will introduce peer data availability sampling (PeerDAS) to further optimize how L2 processes data. Another component of Pectra is EIP-7702, which introduces a new transaction type allowing regular Ethereum accounts to temporarily transform into smart contract wallets.

This different transformation advances the Surge phase of Ethereum's roadmap, which focuses on scaling the OG smart contract platform to over 100,000 transactions per second, with significant work already underway in recent months. Hats off to all participants!

3) Ethereum ETF

On July 22, 2024, the U.S. Securities and Exchange Commission (SEC) approved the first spot Ethereum ETF, which began trading the following day. These products launched by major players like BlackRock, Fidelity, and Grayscale provide U.S. investors with a regulated and easily accessible way to gain exposure to Ethereum investments without directly holding or managing ETH.

Additionally, these ETFs have also piqued the interest of state governments. Michigan recently disclosed over $10 million in Ethereum ETF holdings, becoming the first state pension fund to invest in these products. This investment is a striking signal that ETH is maturing, with mainstream institutions increasingly viewing it as a viable long-term investment.

4) Ethereum Community

The vibrant Ethereum community is a vital part of its ecosystem, a reality fully showcased at this year's Devcon 7 event in Bangkok, which once again highlighted the depth and diversity of Ethereum contributors. It is this diversity that brings us everything from fully on-chain generative art on Art Blocks to Justin Drake's ambitious new Beam Chain proposal aimed at reshaping Ethereum's consensus layer.

This "big tent" collective of builders and dreamers strives for a better, decentralized future, making Ethereum not just a platform but a movement. That’s the real magic here.

5) Vitalik

Cutting-edge research, a wealth of writings on Ethereum's future, substantial donations to noble causes, and measured, inspiring remarks on social media. It’s hard to imagine anyone embodying excellence and humility like Ethereum founder Vitalik Buterin.

As speculative fervor sweeps through the cryptocurrency space once again, Vitalik serves as a clear beacon, urging the community to focus on Ethereum's potential for meaningful and revolutionary innovation, rather than just the money game. He inspires action, not despair, and continues to guide Ethereum forward as a platform for open collaboration and social transformation. We are incredibly fortunate to have him.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。