Ethereum Underlying Architecture Optimization and New Public Chain Layout

The founder of Ethereum recently proposed an important suggestion to replace EVM with RISC-V as the long-term execution layer. This proposal aims to enhance efficiency, address the potentially massive computational demands in the future, and break through the performance bottlenecks within the EVM framework. It is worth noting that this change only involves the underlying execution engine and will not affect Ethereum's account model and contract calling methods. For users and developers, the interaction method with smart contracts will remain unchanged.

The core of this proposal lies in addressing the verification difficulties and hardware dependency issues that the Ethereum execution layer may face in long-term development. RISC-V, as a general and efficient computing model, offers new ideas for solving these potential problems with its mature hardware and software ecosystem. However, the practical implementation of this change may take several years.

In the public chain field, Ethena's choice to join the Arbitrum ecosystem has attracted industry attention. Although Arbitrum Orbit and OP Superchain are both L2-based scaling solutions, there are differences in their design philosophies. Orbit offers greater flexibility, allowing developers to create dedicated chains that can be directly anchored to Ethereum or Arbitrum. In contrast, OP Superchain focuses on building a network composed of multiple parallel L2s, emphasizing consistency and standardization with Ethereum.

Unichain's latest liquidity mining program, while offering considerable returns, has raised the skill requirements for participants. This design may reduce the participation of new users, leading to a concentration of primary participants within the experienced miner community.

In the stablecoin space, Ripple's RLUSD has successfully entered mainstream DeFi protocols such as Aave and Curve. This reflects the ongoing prosperity of the stablecoin market, with various participants continually seeking new avenues for development.

Optimism has launched the SuperStacks initiative to prepare for the upcoming Superchain interoperability feature. This initiative encourages users to participate in DeFi activities on the Superchain, and although the officials stated that there would be no airdrop, it is undoubtedly a meaningful social experiment.

In the field of cross-chain communication, GMX has chosen LayerZero as the information transmission bridge for its multi-chain expansion plan, while a16z crypto has made a significant purchase of LayerZero tokens. Meanwhile, Wormhole has also announced its future development plans. This series of actions highlights the importance of cross-chain communication and the intensity of market competition.

The Spark protocol under MakerDAO has deployed funds for the first time into non-U.S. Treasury areas, opting for the Maple platform, which focuses on both on-chain and off-chain unsecured lending. While this decision opens up new investment channels, it may also carry certain risks.

Overall, the DeFi space is undergoing a new round of transformation and experimentation, from optimizing the underlying architecture to the layout of new public chains, as well as innovations in cross-chain communication and stablecoins, all of which reflect the vitality and potential of this industry. However, these innovations also come with challenges and risks, requiring participants to remain cautious and maintain continuous attention.