GWEI Cloud Summit Week 3 Preview: The Development Path in the Post-Public Chain Era

2021 was a year of explosive growth for public chains, with leading players establishing vast ecosystems around DeFi, NFT, and GameFi tracks. Developers and users have been pouring in continuously. After nearly two years of rapid development, the multi-chain landscape has been established, and acquiring new users has shifted to transferring existing users. The competition among public chains has officially entered the post-public chain era.

With the explosion of on-chain applications, network congestion needs urgent solutions. How will new public chains address their scalability issues?

Web3 is developing rapidly, and the sanctions resulting from the Russia-Ukraine war have once again highlighted the demand for privacy. What solutions do various parties have?

Do Layer 1 chains that missed the last round of user competition still have a chance to narrow the gap with established public chains like Ethereum, BSC, and COSMOS?

How can public chain projects find new growth levers to secure a place in the fierce competition of limited new users and abundant existing users?

On May 11 at 8 PM, the GWEI Cloud Summit Forum III: The Development Path of the Post-Public Chain Era will invite William, the ecosystem product manager of the privacy public chain dark horse Oasis Network, Wilson, the APAC head of the new public chain sensation Avalanche, Tina Liu, the Asia market head of the lightweight blockchain Mina, and Zuriel, CEO of Photon Storage, to discuss new opportunities in the post-public chain era.

Live Time: May 11, 20:00 UTC+8 (Next Wednesday at 8 PM)

Live Link: https://www.gweisummit.com/

The "Post-Public Chain Era" theme week will run from May 9 to May 13, and participants in the live broadcast will receive Hydro badges, which is the third NFT badge issued by this GWEI Cloud Summit.

Hydro, in ancient Greek ὕδωρ, represents water.

"Whatever form it takes, it can change; that is the power of water." Hydro, like water, flows endlessly, spreading to every corner of the Indo-European language family, nourishing the branches and leaves of modern languages, becoming the cradle of what we see and feel. Flowing water does not compete to be the first; it competes to be continuous. When rivers and lakes have not yet converged, even small streams can give rise to flourishing civilizations.

#Play with GWEI Cloud Summit:

Participate in the forum video live broadcast check-in to receive the weekly theme badge of the GWEI Cloud Summit. Collect 6 badges + a key to synthesize the ultimate NFT badge.

Participate in our interactive tasks initiated on social media (Twitter: https://twitter.com/8BTC_OFFICIAL) for a chance to win a key.

Next week's key task:

#GWEI Cloud Summit ------ Open Mic with Eleven Landlord

Ask questions to crypto blogger Eleven Landlord and participate in the Eleven Landlord open mic Twitter space interaction to obtain the key Mint whitelist! Please scan the code for more details------

Review of Ethereum Week Related Content:

On Wednesday (April 27) at 8 PM, independent researcher/former ChainNews research director Pan Zhixiong, Chainlink China head Philip, and original Yulilong initiator Yao Xiang will gather online to discuss the Panel 2 topic "New Era: Understanding ETH's Present and Future," bringing us exciting insights. Let's take a look back!

When discussing where the opportunities lie for other public chains,

Pan Zhixiong stated:

EIP-4844 is said to be implemented by the end of the year, but I think that is definitely impossible. The engineering workload and verification time will take a very long time, so there is still a lot of time for other public chains. In the past year or two, many Layer 1 chains have forked Ethereum to create EVM chains. The reason they can capture the value overflow from Ethereum is that Ethereum's gas fees are too high. However, as Layer 2 or Ethereum Layer 1 becomes cheaper, users will still flow back to Ethereum. In terms of competition, if other chains only want to compete on performance differences and aim to encroach on Ethereum's market, I think it will become increasingly difficult at this point in time.

However, as the entire industry progresses, there are many things that Ethereum has not accomplished. It has many new technologies that cannot be presented, including zero-knowledge proofs, MPC, etc. As Ethereum's burden grows heavier, other chains can expand their functionalities to add these features and then collaborate with Ethereum for mutual complementarity. I believe there are still many opportunities.

Yao Xiang stated:

The core competitiveness of Ethereum lies not in performance or efficiency, but in that, first, it can provide a relatively secure and stable settlement layer, and second, the community has a very strong research capability and decent engineering delivery capability. For other public chains, if you only copy the code and achieve better performance through certain trade-offs, its significance is quite limited.

What I am more concerned about is whether you provide some new technological perspectives, whether you have new technological routes, whether you truly solve some long-term problems, and whether it contributes to future development, rather than just acquiring more users in the market. It must have its own rhythm. In the upcoming new protocols, I believe cryptography will play a greater role; I think this story is just beginning.

Philip stated:

For me, the core competitiveness of Ethereum is its community's research capability. Of course, we may also see some so-called competitors emerging, but if I compare all public chains to computer hardware, we can look back at the paths taken by Intel in the 70s and 80s. In that era, Motorola, IBM, and even Apple ultimately could not compete with Intel. Why did Intel win in the end? It was because of its x86 architecture, its compatibility, and its entire ecosystem's expansion capability. Even Intel itself could not replace its x86 architecture. Why? Because the stickiness of the entire ecosystem's development is there, and that is the position Ethereum holds today.

For more GWEI Cloud Summit activities, please follow our Telegram: https://t.me/news_8btc to stay updated. The content of the GWEI conference will be presented across various media platforms, including the conference official website, DeFi Dao, Chain Node Forum, and Babbitt!

PS. The GWEI online summit is hosted by DeFi Dao, focusing on the Web3 landscape, gathering the world's most influential project teams, senior scholars, academic institutions, and government and enterprise executives, covering cutting-edge Web3 topics such as DeFi, NFT, Layer 2, and public chains, discussing new trends in the Web3 era! Conference official website: https://www.gweisummit.com/