Ethereum has no dreams, and Vitalik refuses to become a lifelong benevolent dictator;

Solana has no bottom line and is the only active conspiracy group left in the blockchain world;

input: Ethereum has no dreams, and Vitalik refuses to become a lifelong benevolent dictator;

Solana has no bottom line and is the only active conspiracy group left in the blockchain world;

BNB Chain has no future. Apart from the ultimate marketing, the only thing left is Binance traffic diversion.

Why study public chains?

When you are connected to all retail investors in the cryptocurrency industry, you will inevitably become the infrastructure of this industry. So far, only BTC/ETH as a public chain and Binance and Coinbase as exchanges have achieved this. One is decentralized and the other is centralized. Can they develop a business that can connect with everyone?

In 2025, there will no longer be L1, non-EVM and public chains with market influence. L2, Move VM and Sonic/Bear Chain are just building a stadium around tokens. The struggle between Solana and Base is more like a battle between business consortiums, and has little to do with the dispute over technical standards and routes.

Based on this, I summarize three main themes of this article, which is also a summary of the public chain from a historical perspective. Just like the new Edge chooses to be compatible with Chromium and start again, an era of rapid development has ended.

You always have to go through this before you become a Bitcoin

Say goodbye to Bitcoin’s successor and welcome the rebirth of Base?

The Ethereum system was conceived for an era of anarchism and personal free will, an era of decentralization, an era of fighting back against the fiat currency system and the world computer, and it is dedicated to this era.

After a year of ridicule, Vitalik chose to promote Aya to the position of chairman of the Ethereum Foundation (EF). After all, Vitalik himself said that he could decide everything about EF.

But there is no need to have more expectations for Vitalik. Vitalik is an extremely nostalgic person. Aya is the "wasting mother" he met when he was sleeping on the floor at Kraken. The hero's humble days are the softest part of his heart.

I don’t want to list all kinds of data and charts to prove the problems with Ethereum, because there is actually no problem with Ethereum itself and the EF and EVM ecosystems. BNB Chain and Base will not switch to SVM for the time being.

Referring to the history of browser development, the most "halal", orthodox and free FireFox did not continue the glory of Netscape, but was incorporated into the combination of Google's open source Chromium and Google search commercialization. 90% of Firefox's revenue comes from setting Google as the default search engine, making it the de facto "official opposition" of Google.

The same is true for today's ETH/EVM system. Every dApp, every L2, every Dev, every VC, and every KOL that makes up the EVM circle has evolved through the process of natural selection on a unique historical trajectory and in a unique ecological environment.

ETH, L2 and EVM are closely linked, forming the public chain system with the most "network effect" at present. The continuous positive feedback mechanism inherent in the network effect will double the ecological connection, which is also the fundamental reason why everyone curses but cannot leave.

Temporary rest will not bring eternal peace. Trident IE will also be replaced by Chromium Edge. The bottom layer of Ethereum is precisely Vitalik’s personal problems, and the collapse of the governance system has led to the current predicament.

Vitalik's parents are both from the Soviet Union. Vitalik himself is extremely opposed to centralized, autocratic and authoritarian systems. The seeds of the DAO system are buried here. However, as mentioned earlier, he also said that he can decide everything about the Ethereum Foundation. The rollback after the DAO incident has proved that if there is no decentralization, there will be absolute centralization.

Referring to Satoshi Nakamoto's departure after his mission was completed, without revealing his achievements and fame, Vitalik is clearly in a chaotic neutral state, that is, he does not want to lead everything in EF legitimately, but he also wants to retain the final decision-making power over EF. Unfortunately, this is the worst governance system.

Since Machiavelli's "The Prince" and Max Weber's summary of bureaucracy plus Taylor's summary, companies are the most efficient organizational model in human society. The Silicon Valley's technology right, such as Musk, Peter Thiel and others, believe that companies should take over the country rather than bureaucrats managing society. DOGE is a direct product of this.

But for organizations that are not so "capital efficiency" oriented, such as technical geek groups, how to govern and collaborate unpaid programmers across the world becomes a social need for foundations or DAOs. The Linux and RISC-V Foundations are both role models, but it is not enough. There will always be conflicts in the community, and people's hearts are not always the same