Original author: Jerry, founder of ThePrimediaDAO

Original author: Jerry, founder of ThePrimediaDAO

V God is talking about the life and death of Ethereum. In "The Three Transitions", Vitalik mentioned the three transformations of the Ethereum ecology - L2, wallet and privacy, using three parallelisms, and mentioning life and death three times. In V God’s statement, these three transformations are crucial, and Ethereum will fail if any one is missing.

But if you look carefully, these three are specific and executable transformation plans, and they are not as life-or-death as the many difficult moments experienced in the history of Ethereum. Since 2017, the sharding of V God has been overwhelmed again and again. Huge controversies, disagreements and even attacks in the process of POW transformation to POS - V God has unintentionally but inevitably shattered the outstanding miners in the Ethereum ecosystem. The food bowl of the group...

In some difficult life-and-death moments, V God painted a big pie, saying that 1024 shards would directly increase the performance by 1000 times; in some difficult life-and-death moments, V God talked about dreams, imagined DeSoc, and looked for Web3 soul……

Now, God V can talk about life and death. This is God V's most confident moment. V God has the confidence to promote key and specific transformation plans and build his Ethereum decentralized non-monetary application ecology. Yes, this is the landing direction of his consistent geek spirit.

In the first half of 2021, in the high spirits of the bull market, Dogecoin drove a bunch of altcoins from Zootopia, and Bored Ape drove a bunch of avatars, pictures, and even a twitter NFT hype and speculation. At that time, BTC surpassed 50,000, more than 60,000, Ethereum is also standing at a historical high. Even though God V is very clear that currency attributes and speculation have given the Ethereum ecosystem a lot of funds and the power of followers and developers who have gathered funds, God V is still deeply melancholy. He said that the currency circle should go to the bubble, otherwise it will be destroyed. The possibility of ecological construction of Ethereum's non-monetary applications.

A prophecy. Starting from the second half of 2021, the market will enter an inflection point and gradually de-bubble. In 2022, the confidence in the currency circle was on the verge of collapse several times, and major events that could destroy the minds of the currency circle occurred one after another. It was also during this period that Ethereum completed its POS transformation, and V God also launched DeSoc’s Imagination, but the market entered a continuous bear market atmosphere.

However, it was also in this year that a group of hard-working crypto ecosystem builders have brought us from the zero-sum hype and speculative game in the currency circle to the blockchain/Web3 industrial ecological construction. Perhaps because of the existence of this force, the currency circle was on the verge of collapse several times, but it did not collapse after all. This round of bull-bear transition did not collapse like the previous round. For more information about this part, please refer to "On the Value Logic of "Bear Market Bottom" from the "Beginning of Civilization"".

The time has entered 2023, when the market's expectations for Hong Kong have not yet been fulfilled, and the strong supervision of the United States has destroyed the confidence of the currency circle, Vitalik talked about the life and death of Ethereum with confidence. As a decentralized community field, V God is already familiar with the power of using words to spread in the community to "command" the ecological power.

This confidence comes from the progress of the ecological construction of Ethereum during this round of bull and bear. V God's loyal followers even began to imagine the future of the encryption world-protocol. Ethereum is indeed on the verge of building Vitalik’s decentralized non-currency application ecosystem, such as the achievements of Layer 2 and expansion, the help of DeFi protocol in the capital allocation of early Web3 projects, such as the progress of basic elements of Web3 such as NFT and DID, Practice and drill of Web3 social, game and DAO...

The life and death theory of Ethereum can be regarded as the horn blowing before V God’s war. We extract the most pre-war agitational opening from "The Three Transitions", as follows——

When Ethereum transforms from a young experimental technology to a mature technology stack that can truly bring an open, global and permissionless experience to ordinary users, the stack needs to go through three major technological transformations, roughly Simultaneously:

1. L2 scaling shift - all migrated to rollups

2. Wallet security shift - everyone migrates to smart contract wallets

3. Privacy Shift - Ensure privacy-preserving money transfers and ensure that all other tools being developed (social recovery, identity, reputation) are privacy-preserving

This is the triangle of ecosystem transformation. You can only choose 3 of 3.

Without the first, Ethereum would fail because each transaction would cost $3.75 ($82.48 if we had another bull run), and every mass market product would eventually forget the chain, and Take a centralized solution for everything.

Without the second, Ethereum would fail as users would be reluctant to store their funds (and non-financial assets) and all would move to centralized exchanges.

Without a third, Ethereum would fail, as all transactions (and POAPs, etc.) would be public for anyone to see, which would be an exorbitant sacrifice of privacy for many users, and everyone would move to have at least some hidden data centralized solution.

If it goes well, we are expected to enter the era of applications in this cycle, starting with the decentralized non-monetary application ecology of Vitalik. Of course, the encryption world will not enter the era of one protocol, and the application ecology will not be the end of the development of the encryption world.

On the basis of Ethereum's non-monetary application ecology, we will also face the topic of the scalability of digital society/metaverse construction, which is close to V God's DeSoc, but it may be more ambitious-especially when we are faced with AI computing in the first half of this year. The possibility of the threat brought by artificial intelligence, the possibility of constructing the underlying data logic relationship and then constructing the digital social order relying on the blockchain/Web3 application world, may be the best solution to the AI ​​threat theory. For a discussion on this topic, see "Why Talking about the "AI Threat Theory" Is Unfounded".

As mentioned earlier, whether it is the construction of a digital society/metaverse or the correct solution to the AI ​​threat theory, it must rely on the progress of Ethereum’s non-monetary application ecological construction, starting from V God’s pre-war horn.