Stanford Blockchain Week: Theoretical Practicalization, ZK, Modularity, and Summary of the Current Development Status of the Bitcoin Ecosystem

From August 26 to September 1, Stanford University hosted a week-long series of Blockchain events. In addition to the main academic conference, this year also included the Blockchain Applications Stanford Summit (BASS), the Starknet Summit, and academic seminars focused on themes such as consensus, MEV, and DAO. This article will explore three key trends presented during this week and their impact on the development of the industry.

Trend 1: Optimization of Theories and Practices of Zero-Knowledge Proofs

Zero-Knowledge Proofs (ZKPs) have become one of the focal points of the conference. The academic community showcased breakthroughs in efficient folding schemes such as HyperNova and Protostar, while also discussing the applications of zkSNARKs in batch Merkle proofs and the formal verification of ZK circuits.

The industry has also shown a strong interest in ZKP research. Several startups have showcased new applications of ZKPs in various fields, including verifiable computation, development tools and infrastructure, as well as private transactions.

The ZKP ecosystem is becoming more specialized, with different companies focusing on specific aspects of the ZK process, such as connecting applications to provers, providing ZK proofs for specific domains, or offering enhanced integration tools. This trend towards specialization indicates that the industry is gradually evolving into a modular and complex system, highlighting the increasing maturity of ZKP technology.

Trend 2: Achieving "Plug and Play" Composability through Modularization

Modularity has become a hot topic recently. Different companies focus on specific tasks within the blockchain technology stack, such as sorting, execution, and data availability, rather than having a single blockchain responsible for all functions. The goal of this trend is to create a more composable technology stack that allows developers to flexibly adjust the blockchain architecture according to their needs.

The "plug-and-play" concept is manifested in multiple projects. For example, a certain project aims to unify the execution environment for EVM and WASM code, allowing smart contracts and WASM code to interact seamlessly. Another project is dedicated to creating industry-standard interoperability protocols, as well as exploring the history and future of modular blockchains.

It is worth noting that the companies driving this trend are mostly more mature ones that have already established a leading position in the industry. These companies attract developers to use their technology stack by enhancing composability, thereby consolidating their ecosystem advantage. This is a positive signal for the entire blockchain industry, as it lowers the entry barrier for new developers while allowing more flexible technology stacks to adapt to a wider range of application scenarios.

Trend Three: Refocusing on the Bitcoin Developer Ecosystem

During this event, the industry has renewed its focus on the development prospects of Bitcoin, the oldest Blockchain. Several discussions centered on the innovative future of the Bitcoin ecosystem, particularly the new opportunities that have emerged after the advent of Ordinals.

An interesting perspective is to compare Bitcoin Ordinals art to "digital jewelry". If Bitcoin is "digital gold", then the artworks engraved through Ordinals are akin to "digital jewelry", providing an indirect way for regular users to interact with Bitcoin.

In addition, the cultural and technological changes brought about by new projects like Ordinals seem to have rekindled Ethereum developers' interest in the Bitcoin ecosystem. They are expected to bring their design experience from Ethereum DApps, knowledge of token economics, and implementation expertise into the Bitcoin world, potentially injecting new vitality into this ancient ecosystem.

However, it is still too early to assert whether we are truly in a "Bitcoin renaissance" period. The Bitcoin community has always had a conservative attitude towards cultural and technological changes, and at times it even seems to be exclusionary. Nevertheless, the potential development of the Bitcoin ecosystem is still worth paying attention to, whether in terms of transaction volume or cultural recognition.

Summary

The trends showcased at the Stanford Blockchain Week, such as the progress in ZK, the composability achieved through modular implementations, and the development of the Bitcoin ecosystem, are just a small reflection of the current blockchain research and innovation landscape. From new consensus mechanism research to transaction and MEV modeling techniques, as well as new cryptographic primitives, this event demonstrated the diversity and vitality of the blockchain industry.

Unlike other industry summits or academic conferences, Stanford Blockchain Week successfully integrates industry practices with academic research, forming a vibrant alliance composed of startups, mature protocols, and academia. This alliance is dedicated to advancing the development of the blockchain field and collaboratively building a more decentralized future.