The year 2024 is extraordinary for Ethereum and ETHDenver

In recent years, significant progress has been made in the blockchain and Web3 fields regarding scalability solutions, cross-chain interoperability, DeFi, NFTs, and ERC-404. The Ethereum ecosystem, as the most mature platform, has always garnered attention. The ETHDenver 2023 set a new record with 30,000 attendees, which is impressive. This year's event is expected to attract over 20,000 community members to come together to discuss innovative ideas and shape the future blueprint of blockchain technology.

As a hub of innovation and creativity, ETHDenver has been dedicated to promoting the integration of blockchain technology, culture, and education. In addition to showcasing technological advancements, this event also fosters a sense of community and collaboration among participants. For industry insiders, ETHDenver is an event not to be missed; it is not only content-rich but also inspiring. I look forward to coming to Denver during BUIDLWeek on February 25th to participate in this grand event and eagerly anticipate this year's ETHDenver gathering.

The upcoming innovations are exciting, aimed at enhancing the scalability, privacy, and overall usability of Ethereum. The implementation of rollups and EIP 4884 is expected to bring significant breakthroughs for layer two scalability. At the same time, advancements in DID, DeFi, DAO, and hybrid applications are also worth looking forward to. These areas signify key progress in driving the development of the Ethereum ecosystem, highlighting the importance of privacy, as well as the diversity of Ethereum as a payment method and decentralized application governance platform.

Decentralization, public participation, censorship resistance, and trustworthy neutrality are the core principles of Ethereum. Technologies such as rollups, zero-knowledge proofs, account abstraction, and privacy solutions help reinforce these fundamental values within Ethereum. It is expected that Ethereum technology will see broader applications, including secure and private online interactions, as well as promoting more democratic forms of governance.

Ethereum is a vast ecosystem that supports a wide range of applications. The emphasis on scalability, privacy, and decentralized governance highlights the ongoing commitment to realizing Ethereum's full potential as a decentralized platform for digital interaction and collaboration in the new era.

In 2024, significant evolution and growth are expected in infrastructure and ecosystems. Here are the expectations for these areas:

DeFi

• Regulation and Transparency: 2024 may focus on compliance and regulatory clarity, particularly concerning the impact on HyFi projects. Pure DeFi projects may still remain outside the regulatory boundaries, but U.S. regulators are expected to take action on HyFi.

• Stablecoin Trading Volume: Predictions indicate that on-chain stablecoin trading volume may surpass Visa's transaction volume, signifying a shift in financial transactions towards blockchain-based methods.

• Ethereum and Trading Liquidity: The proportion of liquid-staked ETH is expected to increase, thereby enhancing the liquidity and utility of the Ethereum ecosystem. Additionally, the growth of private trading and the popularity of gasless transactions are expected to rise, with rollups also likely to see significant increases in the number of layer one transactions.

Web3 Games

• Enhanced Blockchain Integration: It is expected that blockchain elements will be used more complexly in game mechanics, and more diverse Web3 game types will be launched. This year may witness more collaboration between the traditional gaming industry and Web3 startups. ERC-404 could revolutionize the ownership, trading, and cross-platform integration of in-game assets. Furthermore, the interoperability promoted by ERC-404 may make game universes more interconnected, allowing assets from one game to be recognized in another, enriching the overall gaming experience.

• Challenges of Mainstream Adoption: Attracting a larger player base remains a challenge, but improving developer tools to integrate Web3 elements and making blockchain components more intuitive could drive wider adoption. ERC-404 fragments NFT ownership, lowering the barrier for players to acquire and trade high-value in-game items, which is expected to lead to a more active and liquid in-game economy.

NFT

• Growth and Diversification: NFTs are expected to be a major driving force behind Web3 adoption in 2024, but successful projects may differ significantly from current trends. The focus may shift towards unique applications and broader digital ecosystem integration.

• Liquidity and Accessibility: ERC-404 enables NFTs to be traded as fungible tokens on decentralized exchanges while retaining their unique identity. This hybrid approach aims to address the core issues facing the NFT market by increasing liquidity and accessibility. By tackling liquidity challenges and enabling fractional ownership, the ERC-404 standard could attract a broader audience to the NFT market, including collectors and investors.

In 2024, the Web3 space is expected to showcase deeper integration, maturation, and adaptation to regulation. We can anticipate interoperability between chains and ecosystems, coupled with developments in the gaming and NFT sectors, which will propel this year towards significant maturity and mainstream breakthroughs.