The New Dawn of the "World Computer": A Glimpse into the Future Outline of Ethereum

Written by: imToken

You may have heard these statements:

Solana is about to overtake Ethereum

Ethereum transaction fees are high, and the ecosystem is declining.

Ethereum upgrades are too slow and lack narrative, failing to support the coin price...

But, is it really like this?

If you were an OG who entered the space in 2017, you might still remember the crypto experience of that year: fast transactions, low fees, simple operations, and no need to switch chains for wallets; everything was straightforward.

Today, Ethereum is returning to a "simple yet powerful" user experience—taking it even further. Just as in the time of Qin Shi Huang when "cars shared the same tracks and scripts were the same", Ethereum is reshaping its underlying structure with a modular strategy: the mainnet focuses on security and settlement, while Layer 2 carries performance and experience.

Can you imagine:

Are smart contract wallets becoming more popular?

Is the transaction fee on Ethereum less than 1 cent?

Enjoy a Web2-like smooth application experience on the chain?

These are all happening. Technologies such as Rollup, EIP-4844, and account abstraction are building a smooth, flexible, secure, and unified Ethereum.

The Cornerstone of Trust: The Unshakeable Ethereum Mainnet

We have observed that although high-frequency trading is migrating to Layer 2 and TRON is gaining share in stablecoins, the Ethereum mainnet remains the core hub for capital, protocols, and developers.

1. Data as evidence: Economic dominance

On-chain data does not lie. The total locked value of Ethereum is approximately $62 billion, far exceeding other blockchains; its stablecoin market cap exceeds $126 billion, making it the largest stablecoin issuance and circulation network in the world; its ecosystem is a major contributor to the decentralized exchange (DEX) monthly trading volume of hundreds of billions of dollars.

2. Strategic Shift: Moving Towards a Secure Base of Trillion Assets

Currently, Ethereum, as the vision of a "world computer," has unearthed the pioneering scenario of the "world ledger" — focusing on becoming the most neutral and secure settlement layer for global finance and digital assets. The foundation's proposed "trillion-dollar security" plan aims to create a solid foundation capable of supporting assets equivalent to the entire UK stock market, paving the way for "World Onchain."

3. Institutional Entry: Traditional finance is building the future on Ethereum.

From JPM Coin by JPMorgan to on-chain funds by Franklin Templeton, and to BUIDL by BlackRock, Wall Street is building the future on Ethereum. The implementation of regulatory frameworks such as MiCA (Markets in Crypto-Assets Regulation) has also cleared the way for the large-scale entry of compliant funds.

Growth Engine: Layer 2 Fully Explodes

Ethereum's scalability has shifted from concept to reality, and a new division of labor is forming in the blockchain world:

1. Cost plummets, trading volume surpasses the mainnet

Today, the total daily trading volume of mainstream Layer 2 solutions like Base, Arbitrum, and OP has far surpassed that of the mainnet, primarily due to a cost reduction of 10 to 100 times. This has made "free trading" a feasible reality rather than just a business vision. With brokerages like Robinhood entering the market for tokenized stocks, Layer 2 is set to experience a wave of more frequent and diverse trading.

2. Dencun upgrade opens a dedicated highway for Layer 2.

The Dencun upgrade introduces "Blob" - a temporary data space designed specifically for Layer 2. It is independent of the expensive permanent storage of the mainnet, drastically reducing the cost of data publishing for Layer 2 by 100-200 times, which is a key part of the scalability revolution. Subsequent technologies such as PeerDAS and ePBS will further expand this data highway.

The Revolution of Experience: Account Abstraction, the Last Mile to the Mass Market

If Layer 2 solves the problem of "expensive," then account abstraction aims to solve the problem of "difficult to use." This is the final hurdle for Web3 to welcome the next billion users.

The goal of account abstraction is to turn your wallet into a programmable 'smart account', bringing a disruptive experience:

1. Say goodbye to Gas fee troubles.

In the future, when using DApps, you no longer need to worry about Gas and purchasing ETH. Through the Paymaster mechanism, DApps can pay Gas for you, or you can directly use stablecoins like USDT for payment. Transactions will be as natural as breathing.

2. End Mnemonic Anxiety

Forget that nerve-wracking mnemonic phrase! Account recovery through social recovery (verified by friends and family) or email recovery (using zk-Email technology) will become simple and secure.

3. Web2 Level Smooth Login and Payment

Say goodbye to the hassle of signature pop-ups for every operation!

Passkey: Directly authorize transactions using face or fingerprint recognition, completely hiding complex concepts such as private keys and signatures.

Session Key: When playing blockchain games or performing high-frequency operations, one authorization allows for unlimited play within a specified time, without being frequently interrupted by signatures.

A Unified Landscape: When "On-chain Islands" Connect to Form a Continent

Having solved the issues of "expensive" and "difficult," the final challenge for the Ethereum ecosystem is fragmentation. Assets and identities are trapped on different Layer 2 islands, and the cross-chain experience remains complex and slow.

Interoperability technology is the key piece of the puzzle that connects these islands and builds a unified continent.

Intents: From 'how to do' to 'what to do'

In the future, you will no longer need to worry about complicated cross-chain steps. Just express your end goal, such as "I want to exchange 100 USDC on Arbitrum for as much ETH as possible on Base." The professional "Solvers" in the system will automatically calculate and execute the optimal path for you, with the entire process completed in the background, completely unnoticed by you.

Shared Sequencers: Enabling Atomic Cross-Chain Operations

It ensures that a complex cross-chain transaction (such as cross-chain arbitrage or lending) either succeeds entirely or fails entirely, completely eliminating the risk of asset loss during the cross-chain process, providing a solid foundation for complex cross-chain applications.

Cross-Chain Session Keys: The Ultimate Combination of Account Abstraction and Interoperability

One authorization allows DApps to automatically execute tasks for you across multiple chains. Imagine being able to automatically stake your idle assets on multiple Layer 2s into the highest yielding protocols in the entire network with just one click.

The ultimate experience of the future will be: in a Web3 wallet, you initiate an "intent" with a single fingerprint verification. Subsequently, the Paymaster advances the Gas for you, the Solver plans the path, the shared sequencer ensures security, assets flow seamlessly between multiple Layer 2s, and finally settle on the Ethereum mainnet.

The front end is as smooth as Web2, while the back end is a highly collaborative modular network. This is "Unified Ethereum."

Welcome to "Unified Ethereum"

Unified Ethereum is no longer a future concept; it is already at our feet. The mainnet ensures trust, Layer 2 provides performance, account abstraction opens the gateway, and interoperability technology seamlessly connects all of this.

In this new paradigm, Web3 wallets will play a role that is not just that of a wallet; they will serve as smart gateways into a unified ecosystem, personal assistants for managing programmable accounts, and reliable guides for obtaining the best experience in a multi-chain world.

We are standing at the starting point of a brand new value internet—it is unified, open, user-friendly, and unprecedented.