A Vision of Ethereum (2025)

What about users?

  1. Normie users: They’ll use some form of centralized aggregator, who will then settle on rollups or on Ethereum directly. Think of it very much like CEXs, except they’ll expand their functionality to integrate DeFi, NFTs, social etc.
  2. Tech-savvy normie users: Tech-savvy users who are comfortable with self-custody will use smart contract social recovery wallets. These wallets will be incredibly advanced, with various aggregation mechanisms behind-the-hood for aggregating smart contracts across multiple rollups. Think of a scenario: User deposits fiat to the smart wallet, and wants to earn interest. All they have to do is deposit it. The smart wallet will a) convert to stablecoin, b) deposit automatically to the best interest earning opportunity. Of course, there can be multiple interest aggregation pools like Yearn. All of this will be abstracted from the user. They’ll just see they are earning interest on their fiat! Likewise, most popular dApps will be integrated in the smart wallet, so you don’t need to hop and skip between frontends and rollups.
  3. Application-specific users: Some applications will be done entirely on the frontend, with the backend invisible to users. Indeed, we see this happening already with Sorare. Their frontend is indistinguishable from a centralized fantasy sports game, while at the backend they are settling on Sorare’s StarkEx-based validium.
  4. Enthusiast users: These users will likely transact directly with rollups. The more cost-sensitive enthusiast will use volitions or validiums.
  5. Financial instructions, governments, whale NFT collectors: Finally, there’ll be a very limited set of parties that will settle directly on Ethereum. Some of these will be aggregating their clients’/citizens’ activities. While others will leverage Ethereum to eliminate their data liability. For example, Libra fell afoul of this. Had they deployed a rollup on Ethereum, instead of creating their own consensus mechanism, it might have worked out. (Of course, rollups did not exist then.)


Ethereum — the base layer




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Rants and musings on blockchain tech. All content here in the public domain, please feel free to share/adapt/republish.

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