The Evolution of Ethereum and the Internet

This is how the internet evolved:

First we had low online bandwidth

Then we had high bandwidth but few sites

Now we have high bandwidth and many sites

This is how Ethereum is evolving:

First we had few chains and few dapps

Then we had many dapps but little blockspace

Soon we have many dapps and plenty of blockspace

See the similarity!?

In 2017, the blockchain world experienced an influx of decentralized applications (dapps) built on platforms like Ethereum. However, limited blockspace and congestion issues on existing blockchain networks arose.

As the demand for dapps grew, the scalability limitations of Ethereum and other chains became evident. With only a few chains available, the competition for blockspace intensified, causing congestion and higher transaction costs. It was clear that a solution was needed.

Enter zk-rollups, zk stacks, Layer 2 solutions, and zkevm—the next wave of scalable chains. These technologies enabled the creation of multiple chains, each offering ample blockspace to accommodate a greater number of transactions.

With an abundance of blockspace, blockchain networks are no longer constrained, and congestion issues are significantly reduced. However, there seems to be a gap between the increased blockspace availability and the number of highly adopted dapps.

This phase in the evolution of Ethereum and the internet reminds me of how the internet itself developed. Initially, we had limited bandwidth and only a handful of websites. The infrastructure couldn't support a vast array of online services.

As technology advanced, bandwidth increased, leading to higher capacity and faster connections. This shift laid the foundation for the proliferation of websites and online services. We're witnessing a similar pattern in the blockchain space.

Despite the abundant blockspace, the blockchain ecosystem is yet to see an explosion of highly adopted dapps. This isn't unusual, as it took time for the internet to mature and for innovative services to emerge. Patience is key in this cycle of growth.

In the next bull run, we're likely to witness a transformative phase. The availability of plentiful blockspace across numerous chains will coincide with the rise of compelling and highly adopted dapps. The blockchain space will thrive in this synergy.

Just as the internet evolved from limited bandwidth and few websites to high-speed connections and a vast number of online services, the blockchain world will follow a similar trajectory. We're on the cusp of an exciting era of dapps and chains.

Don't be a tourist.

The cycles of growth are a natural part of technological progress. Embrace the forthcoming advancements in blockspace availability and anticipate the emergence of groundbreaking dapps. The future of Ethereum is bright like never before!