Ethereum

My post from 1.5 years about "assessing demand drivers for ETH" had the line "Needless to say, we’ll need to wait for EIP-4844 to assess this."

Now that EIP-4844 is out for half a year, it's indeed time to do so. As such, I'd downgrade the significance of "L2 fee burns" from 2/10 to 1/10. While it's very likely demand for blobspace is gradually going up, supply is up even more with PeerDAS imminent, plus full sharding & Nielsen's Law making blob count up only. Cross-L2 interoperability has also been much less required than anticipated, as most users are happy to stick to their chosen L2, or bridge between only occasionally

So, why was I (mildly) wrong? I did not fully understand the concept of strict global consensus then, which I only wrote about in depth later in 2023. With a better grasp of the true demand landscape for blobspace, the 1/10 is obvious

Also, this is great for Ethereum/ETH in the same way as building public roads

My post from 1.5 years about "assessing demand drivers for ETH" had the line "Needless to say, we’ll need to wait for EIP-4844 to assess this."

Now that EIP-4844 is out for half a year, it's indeed time to do so. As such, I'd downgrade the significance of "L2 fee burns" from 2/10 to 1/10. While it's very likely demand for blobspace is gradually going up, supply is up even more with PeerDAS imminent, plus full sharding & Nielsen's Law making blob count up only. Cross-L2 interoperability has also been much less required than anticipated, as most users are happy to stick to their chosen L2, or bridge between only occasionally

So, why was I (mildly) wrong? I did not fully understand the concept of strict global consensus then, which I only wrote about in depth later in 2023. With a better grasp of the true demand landscape for blobspace, the 1/10 is obvious

Also, this is great for Ethereum/ETH in the same way as building public roads

https://polynya.mirror.xyz/GPC26Y_rlwCyPpj_N3HeW_izY1-pIVwKW5bjuPNrGeQ

How do you evaluate the other drivers after your post last year? Do stable coins, for example, threaten Economic collateral and Unit-of-account (3&4)?