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Blockdaemon Blog
Ethereum News by Blockdaemon- Jan 2023
ETH Newsletter
Jan 12, 2023
By:
Friedrich
Zwanzger
&
100 Days After the Merge & 2023 outlook
The one thing all 2022 blockchain reviews share as the most important milestone for Ethereum is undoubtedly the successful Merge in September.
Christine Kim from Galaxy Digital has researched a great article “100 Days After the Merge”. She shares 10 charts to illustrate the impact of the Merge on Ethereum, covering everything from 0% inflation to validator/APR metrics and MEV statistics. My personal highlight is mentioned right in the introduction: the reduction of the network’s energy consumption by >99%!
The transition to PoS would be incomplete without the ability to withdraw one’s stake. With EIP-4844 (“Proto-Danksharding”) and EVM Object Format (EOF) modifications postponed until a later fork, the implementation of full and partial withdrawals is clearly the most existing feature of the Shanghai hard fork, which is now scheduled for March 2023.
While it is anyone’s guess whether the % of staked $Eth will go up or down once activated, the above-mentioned report gives a good summary on how the accumulated protocol rewards will be distributed (= partial withdrawals) and how the exit of validators (= full withdrawals) will work. We’ll provide detailed info over the coming weeks as well!
The Ethereum ecosystem is so much more than just the Ethereum Mainnet!
It is all the people and projects building the protocol itself, or on top or around it. I recently found this staggering list of 50 EVM-compatible networks on DezentralizedFinance, which visualizes this aspect of sharing the Ethereum Virtual Machine at its core.
The cross-pollination of innovations across these blockchains are one of the main factors when people talk about the strong network effects that Ethereum benefits from.
Well structured as usual, he mentions a few specific categories of existing applications he is less optimistic about and of course elaborates on the use cases that he sees getting stronger, namely:
Money (particularly in the Global South)
DeFi (including decentralized stablecoins)
The identity ecosystem (e.g. ENS, SIWE, PoH, POAPs, SBTs)
DAOs (decentralization for robustness, efficiency and interoperability)
Hybrid applications
Which use case do you feel strongly about? I would be happy to hear your thoughts (or questions) about it - I do reply to every email!
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