Stanford Blockchain Week Insights: ZK, Modularity, and the Development of the Bitcoin Ecosystem

From August 26 to September 1, Stanford hosted a series of blockchain-related conferences and events. In addition to the main academic conference, there were also the Blockchain Applications Stanford Summit, the Starknet Summit, and academic seminars focusing on themes such as consensus, MEV, and DAO. This article will explore three key trends that emerged during this week and their impact on industry development.

Trend 1: Optimization of Zero-Knowledge Proof Theory and Practice

Zero-Knowledge Proofs (ZKPs) have become one of the focal points of the conference. The academic community discussed breakthroughs in efficient folding solutions such as HyperNova and Protostar, as well as the application of zkSNARKs in batch Merkle proofs and ZK circuit formal verification.

Not only is the academic community highly interested in ZKP research, but several startups have also demonstrated new applications of zero-knowledge proofs in various fields. For example, some companies use ZKPs in verifiable computation, some propose new development tools and infrastructure use cases, and others showcase applications for private transactions.

The ZKP ecosystem is gradually becoming specialized, with different companies focusing on specific parts of the ZK process. This specialization indicates that the industry is developing towards modularization and complexity, highlighting the increasing maturity of ZKP technology. A positive interaction has formed between academic breakthroughs and practical applications, opening up new use cases for the technology.

Trend 2: Achieving "Plug-and-Play" Composability through Modularity

Modularity has become a hot topic, with different companies focusing on specific tasks within the blockchain technology stack, such as sorting, execution, and data availability. This modular approach aims to create a more composable technology stack, allowing developers to flexibly adjust the blockchain architecture according to their needs.

A certain project aims to unify the execution environment of EVM and WASM code, allowing smart contracts and WASM code to interact seamlessly. This enables the creation of WASM "libraries" from which EVM contracts can call functions, thereby achieving a more composable development experience. Other interesting developments include attempts to create industry-defined interoperability standards, as well as discussions about the history and future of modular Blockchain.

It is worth noting that the driving force behind this trend is largely made up of larger and more established companies that are already in a leading position in the industry. These companies are trying to attract developers to use their tech stacks by enhancing composability. This is a positive signal for the entire Blockchain industry, as the "plug-and-play" approach lowers the entry barrier for new developers while also allowing for more customized tech stacks to accommodate a wider range of use cases.

Trend Three: Bitcoin Developer Ecosystem Regains Attention

During the conference, there was a focus on the development and future of the Bitcoin ecosystem. In addition to presentations on Bitcoin staking protocols, there were several panel discussions covering the innovative future of the Bitcoin ecosystem, especially the developments following Ordinals.

An interesting viewpoint suggests that if Bitcoin is "digital gold", then the artworks inscribed on it through Ordinals are equivalent to "digital jewelry". This analogy implies that Bitcoin may have broader application prospects. Moreover, the cultural and technological changes brought by new projects like Ordinals seem to reignite Ethereum developers' interest in the Bitcoin ecosystem, who may bring their design, token economics, and implementation experience from Ethereum DApps into Bitcoin.

However, it is still too early to assert whether we are truly in a "Bitcoin revival". It is well known that the Bitcoin community's attitude towards cultural and technological changes is generally conservative. Nevertheless, the potential development of the Bitcoin ecosystem is still worth paying attention to, whether in terms of trading volume or cultural recognition.

Conclusion

The innovations showcased during Stanford Blockchain Week go far beyond the three trends mentioned above. From new consensus mechanism research to transaction and MEV modeling techniques, as well as new cryptographic primitives, the industry has demonstrated diversity and vitality. Stanford Blockchain Week successfully combined industry and academic research, creating an alliance composed of startups, established protocols, and academia, all committed to advancing the development of the Blockchain field and building a better decentralized future.