yuga.eth
@yuga
I think there are 3 dimensions to understanding Ethereum’s struggles: regulatory, technical, and cultural. I believe the most critical to solve are the cultural issues. 1. Regulatory - Ambiguous status of ETH as commodity vs. security. With the new political landscape, this is no longer an issue, and builders should feel comfortable using Ethereum as the base layer from a legal perspective . ✅ 2. Technical - fragmentation from rollup centric roadmap; infinite state bloat, etc etc. I’m actually not too worried about this. Teams like @base have some of the smartest people in the world working on interop, scalability, and related issues. To the extent there are existential technical problems, they are actually an outgrowth of the underlying cultural ones. ➡️
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yuga.eth
@yuga
3. Cultural - Much has been said about the EF, Vitalik, the lack of marketing for Ethereum, etc. - but I want to pinpoint the exact issues as I see them. First, I think Ethereum prioritizes research & development for its own sake too much, rather than as a means for helping users. This means that protocol engineers need to focus their work not just on the latest ZK tooling or gas optimizations, but on tooling that will make the benefits of these available to users *immediately*. It also means communicating these advances in plain language, without jargon, to make both app builders and end users excited about these changes.
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yuga.eth
@yuga
Second, Ethereum places the builder above the user; it should be the opposite. There is a lot of great optimism and support for builders on e.g. the OP Stack, but not enough discernment about what type of building will lead to happy users. Grant issuers should be more opinionated about their rewarding process to optimize for more and happier end users, rather than simply creating a “builder-first” culture. Last, Ethereum needs to lean into financial use cases. DeFi is the most important sector of Ethereum, full stop, and I think 90%+ of apps should be focused on this use case. Building the future of the global financial system is a tall order in and of itself, and it will not succeed if the efforts are dispersed across too many initiatives. I fell in love with Ethereum because of its culture of decentralization. While I think this is also why Ethereum will win, the community needs to be realistic of the limits of a decentralized culture, and sharpen its focus to deliver financial value to end users.
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agusti
@bleu.eth
builders starve without users
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