Stanford Blockchain Week Observations: Theoretical Practice, ZK, Modularity, and Development Overview of the Bitcoin Ecosystem

From the end of August to early September, Stanford University hosted a week-long series of Blockchain events. In addition to the main academic conference, there were several thematic events, including the Blockchain Applications Stanford Summit and the Starknet Summit, as well as academic seminars focusing on topics such as consensus mechanisms, MEV, and DAOs. This article will explore three key trends presented during this week and their impact on industry development.

Trend 1: Progress of Zero-Knowledge Proofs in Theory and Practice

Zero-knowledge proofs (ZKPs) have become one of the focal points of this conference. The conference focused on optimizing existing ZKP solutions, including breakthroughs in efficient folding solutions such as HyperNova and Protostar. Additionally, there were academic talks on applying zkSNARKs to more efficient batch Merkle proofs and ZK circuit formal verification.

Not only is the academic community highly interested in ZKP research, but several startups have also showcased new applications of ZKPs in various fields. For example, some companies are using ZKPs for verifiable computing, others are proposing new use cases in developing tools and infrastructure, and some are demonstrating applications for private transactions.

The ZKP ecosystem is gradually becoming more specialized, with different companies focusing on specific parts of the ZK process. This trend towards specialization indicates that the industry is moving towards modularization and complexity, highlighting the increasing maturity of ZKP technology. Meanwhile, ongoing breakthroughs in academia are opening up new application scenarios for the technology, creating a positive interaction between ZKP theory and practice.

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

Recently, modularity has become a hot topic and growth trend. Different companies focus on specific tasks within the blockchain technology stack, such as ordering, execution, data availability, etc., rather than having a single massive blockchain responsible for all functions. The goal of modularity is to create a more composable technology stack that realizes a "plug-and-play" design philosophy, allowing developers to flexibly adjust the blockchain architecture according to their needs.

This "plug-and-play" concept is reflected in multiple projects. For example, a certain project aims to unify the execution environments of EVM and WASM code, allowing smart contracts and WASM code to interact seamlessly. Other noteworthy developments include innovations in cross-chain communication protocols and discussions on the history and future of modular Blockchain.

It is worth noting that the projects driving this trend are mostly mature large companies that have established a leading position in the industry. These projects attract developers to use their tech stack by enhancing composability, thereby consolidating their ecosystem advantages. For the entire Blockchain industry, this is a positive signal, as the "plug-and-play" approach lowers the entry barrier for new developers while also allowing for more customizable tech stacks to accommodate a wider range of application scenarios.

Trend Three: Refocusing on the Bitcoin Developer Ecosystem

Another interesting trend of this Blockchain Week is the renewed focus on the development of the Bitcoin ecosystem. Discussions specifically dedicated to the Bitcoin ecosystem were arranged during the conference, exploring it from both technical and cultural perspectives. Multiple panels discussed the innovative prospects of the Bitcoin ecosystem, especially in light of the developments following the emergence of Ordinals.

A striking perspective is to compare Bitcoin Ordinals art to "digital jewelry". If Bitcoin is viewed as "digital gold", then the artworks inscribed through Ordinals are equivalent to "digital jewelry". This analogy suggests that ordinary people may interact with gold more indirectly through artworks and jewelry, and the same reasoning applies to Bitcoin.

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 bringing the design, token economics, and implementation experience of Ethereum DApps to Bitcoin, with the hope of injecting new vitality into Bitcoin's ancient ecosystem.

However, it is still too early to assert whether we are truly in a "Bitcoin Renaissance" period. As we all know, the Bitcoin community tends to be relatively conservative regarding cultural and technological changes. Nevertheless, the potential development of the Bitcoin ecosystem is still worth paying attention to, whether from the perspective of transaction volume or cultural recognition.

Conclusion

The above three trends regarding the progress of ZK, the composability of modular implementation, and the development of the Bitcoin ecosystem are just a part of the numerous research and innovations currently underway at Stanford University. From new research on consensus mechanisms that lay the foundation for future L1 or L2, to transaction and MEV modeling techniques that may enhance analytical tools, to new cryptographic primitives, Stanford Blockchain Week showcased the diversity and vitality of this industry.

Unlike other industry summits or academic conferences, this event cleverly combines industry and research, creating a vibrant alliance composed of startups, established protocols, and academia. This alliance is committed to advancing the Blockchain field and jointly building a more decentralized future.