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As long as macro range lows will be held #ETH still remains within a macro 5 year long accumulation & should see a major adoption
However loss of it would be even more critical, than anything before
Time for bulls to prove its worth
For people that don't understand why this @zksync breakthrough is a huge deal:
Right now for Ethereum (or any L1), every single validator in the network needs to execute every single transaction in each block that comes in to verify its validity. This means there's a lot of duplicate work spent on the same exact computation.
With ZK proofs, you can instead have a a single block proposer create a proof that the next block is valid. Each validator in the network then only needs to verify the proof rather than re-execute every single transaction in the block. Verifying a zk proof is MUCH more efficient than re-running the block against the current state of the chain.
This enables Ethereum to then have much higher gas limits per block because validators are now much more efficient in verifying blocks. The same hardware can now verify much larger blocks with the same amount of computational power.
With the latest @zksync changes, they are now able to prove an entire Ethereum block with consumer grade hardware. Previously, creating a zk proof for an Ethereum block would take large amounts of computation and time - now it's a mere fraction of what was possible previously.
insanely BULLISH for ethereum scaling roadmap.
JUST IN: ZKSync's airbender team demonstrates two 5090 GPUs can generate a proof for every ethereum L1 block.
it means:
- block gas limits can increase safely
- L2s get cheaper
- blob usage goes up
- ETH burn intensifies
- settlement approaches real-time
- ZK proving becomes consumer-grade hardware
i break down further what this means for ethereum below:
> normally proving a block is computationally very expensive.
> now, 2 gaming GPUs → full L1 proofs (absurd efficiency)
If ZK proofs can be produced quickly for bigger blocks, then ethereum can safely increase block gas limits.
more gas per block → more transactions → more throughput → cheaper L2 fees → more blob use → more ETH burned.
if proving gets cheap enough, more people can run provers and L2s can settle faster.
ethereum is no longer expensive or slow. this makes ethereum provably and structurally scalable.
ETH.
To me, these two are pretty much the same cycle psychology wise
You had:
1) Initial mini bull season followed by
2) Long drawn out & exhausting semi bear with hopeful recovery for a comeback
3) All just before the black swan (Covid/Tariffs) to kill all dreams
4) Full V-shape recovery not followed by the broader market, followed by
5) The current low-volume re-accumulation where everyone lost hope
It is also twice as long time wise as it was in the past, which makes it even worse for people but I don't have any reason to think we are at any different stage
The only way is to not lose the focus. Life will always test you out the fullest the moment you start to get closer to your breakthrough. Universe is testing your conviction. The test before success. And most of people around will only make it tougher, planting the seed of doubts into you. The life is asking you, do you really want it? And then it comes
So if you feel pressed, challenged, even broken. It is not the end. It's the beginning of something greater
USDT usage on Ethereum is at an all-time high, with key metrics up ~400% from Sep '23 lows.
Monthly transfer volume in September was $580.9 billion & transfer count 12.5 million.
At a ~$500 billion valuation, @tether is the most valuable business building on @ethereum.