The Ethereum community recently engaged in extensive discussions regarding the current issues facing Ethereum. Foobar, the founder of Delegate, stated that Ethereum seems to have lost some security and that it will address some of these issues before 2026. However, in order to maintain the leading position of the Ethereum Virtual Machine (EVM), a parallel upgrade focusing on Externally Owned Accounts (EOA) must be implemented.
Lido strategic advisor Hasu, a liquidity staking solution for Ethereum, tweeted on the 24th, pointing out that Rollups currently account for 20% of Ethereum’s total revenue and are rapidly growing. This proves that Ethereum itself cannot easily provide the demand for “opaque modifications.” One of the biggest strategic mistakes Ethereum may make is attempting to compete as an execution layer instead of focusing on the unique security it can provide.
In response to this view, Foobar, the founder of Delegate, stated that relayers are intermediaries between block builders and block proposers, allowing validators to provide their block space to block builders. According to mevwatch.info data, currently, 37% of Ethereum blocks are built by MEV-Boost relayers regulated by the Office of Foreign Assets Control (OFAC), which has raised concerns about being subject to regulatory scrutiny by the U.S. government.
Hasu fully agrees with Foobar’s view and points out that according to the Ethereum roadmap, a lot of work will be done to address these issues from 2024 to 2026. For him, this indicates that securing Ethereum is extremely challenging, and apart from introducing centralization, no other chain has done better in these aspects.
Foobar then responded, expressing confidence that Ethereum will address some of the issues before 2026. However, it is no longer 2013, and when people are deeply studying PBS execution tickets and L1 is unusable, it cannot be expected that the world will passively observe changes within three years. In order to maintain the leading position of the EVM, a parallel and focused upgrade on Externally Owned Accounts (EOA) must be implemented.
Foobar further explained that the difficulty and cost of Rollups are not the main bottlenecks but rather the complexity of the surrounding EVM infrastructure, which requires parallel coordination. For example, to support EIP-3074, the main bottleneck is the wallet. If MetaMask wants to join, L1 needs to take a leadership role in this aspect.
EIP-3074 is a highly anticipated improvement proposal in the Ethereum community, allowing delegation of control over Externally Owned Accounts (EOA) to smart contracts, enabling all EOAs to have the functionality of a smart contract wallet.