Key Points
- Ethereum Foundation has initiated Etherealize, aimed at attracting institutions to the ecosystem.
- Etherealize will function as a marketing and product support team for Ethereum.
The Ethereum Foundation has introduced a new branch, Etherealize, to invite institutions into the ecosystem. Etherealize underlines Ethereum’s attempts to expand its user base and persuade more institutions to join the network.
Etherealize’s Role and Benefits
Etherealize is set to serve as a marketing and product support team for Ethereum. The objective is to bridge the gap between traditional institutions and the rapidly evolving world of decentralized finance (DeFi), blockchain applications, and Web3 technologies.
Etherealize’s mission is to make Ethereum more accessible and attractive to businesses and large organizations. It will assist these organizations in understanding and adopting Ethereum-based solutions, ensuring a smooth and advantageous transition.
Etherealize will also promote Ethereum, enhancing its visibility among institutions. Interestingly, Etherealize aligns with Ethereum’s ambition of becoming a global foundation for a decentralized internet.
As the network evolves with updates and solutions for better scalability, Etherealize will play a crucial role in enabling more people to use Ethereum. It will specifically target areas typically dominated by centralized technologies.
Future Developments and Ethereum’s Position
In addition to Etherealize, Ethereum developers have scheduled March 2025 as the target date for the much-anticipated Pectra upgrade. Initially expected in late 2024, the Pectra upgrade faced delays as developers broadened its scope to include several Ethereum Improvement Proposals (EIPs).
These upgrades aim to address technical and user-facing aspects of the network, reinforcing Ethereum’s position as the leading blockchain for DeFi. In preparation, Mekong, a temporary testnet, was launched in November 2024 to test the critical upgrades.
Key improvements will simplify wallet experiences for users. It will also enable account abstraction, increase validator stake limits from 32 to 2,048 ETH, and refine deposit and exit mechanisms. According to the update, Etherealize will also participate in core development efforts within the ecosystem.
Expansion of Ethereum Ecosystem
The wider Ethereum ecosystem is flourishing, supported by its L2 ecosystem. Some days ago, Ethereum co-founder Vitalik Buterin endorsed Soneium, a new Layer-2 blockchain built as a promising solution for users and businesses.
Meanwhile, Sony BSL’s bold entry into the Ethereum Layer-2 space comes amid ongoing competition among major players. The platform distinguishes itself by incorporating USDC as the main exchange token through a collaboration with Circle.
This strategic move enhances its reliability and bridges the gap between conventional and DeFi ecosystems. Similarly, Sony BSL envisioned further Web2 and Web3 technology integration to offer users a unified and seamless experience.
In December, Kraken launched Ink, an Ethereum scaling solution, intensifying the competition for market dominance. At the same time, Base Network, backed by Coinbase and Arbitrum, maintains leadership in transaction volume and Total Value Locked (TVL).
As part of its progression, Base developers aim to innovate further by tokenizing COIN on their protocol this year. Such advancement underscores the Ethereum ecosystem’s evolution as every new initiative redefines its structure. Soneium, however, stands out for its business-friendly design and transparency.
Buterin’s comments on the blockchain’s capabilities show its potential to balance control and user autonomy.
