ChainThink report, March 6: Ethereum founder Vitalik stated that, in my view, it would be beneficial for the Ethereum community to adopt a bolder and more open mindset—especially regarding the application layer and how we perceive our role in the world. We must not compromise on core properties: censorship resistance, openness, privacy, and security (CROPS). Particularly at the application layer and Ethereum’s interfaces with the outside world, we should be more willing to thoroughly re-examine various concepts and step outside our comfort zone.

Last year, we began treating privacy as a primary concern, placing it on equal footing with other forms of security. This implies a fundamental transformation of the Ethereum application stack, as the stack has historically not been built around privacy. Excellent—let’s build a radically different Ethereum application stack.

This year’s example is rethinking the role of L2s from the ground up, and identifying which types of L2s truly generate maximum synergy and value-add with Ethereum. This also includes cultural factors. For me and others, this is precisely a core component of the “milady” philosophy: write down your ingrained notions of what is “respectable,” crumple them into a ball, and burn them. This psychological cleansing brings intellectual renewal, fueling greater creativity and expanding our horizons.

For years, our algorithm on Ethereum has been: we have an existing ecosystem; what’s next to make it better? Now, our algorithm should be: we have an exceptionally strong L1 layer, and it will only grow stronger; we possess an ever-expanding toolkit, including tools developed both inside and outside the ecosystem; based on our current knowledge, what is most valuable? If you were writing the application section of the 2014 Ethereum whitepaper today, starting from first principles in DeFi, decentralized social, identity, and other domains, what would you write? At minimum, set aside all path dependencies—assume Ethereum’s chain is currently unused, and you are the first person proposing or building the initial applications. What would emerge? Even if you’re currently building existing applications, do this exercise. This is the true key to revitalizing Ethereum.