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At the beginning of the new year, Ethereum founder Vitalik Buterin released a detailed annual review, providing an in-depth look at the key breakthroughs in blockchain technology over the past year, while also honestly acknowledging the challenges ahead.

From a technical perspective, there have been quite a few gains. The Gas limit has been increased, the number of Blobs is growing, and the stability of node software continues to improve. Notably, zkEVM and PeerDAS are two areas to watch—they have not only achieved performance breakthroughs but also reached new levels of usability. This is not just a simple version update but a structural evolution of the entire blockchain architecture.

But Vitalik also does not shy away from issues. He clearly states that the future focus is not on chasing every market hype. Tokens like dollar-pegged stablecoins, political Meme coins, or deliberate hype around ETH deflation are not the directions to follow. What truly matters is returning to the original dream: building a free, open, censorship-resistant "global computing network."

He used an interesting analogy: truly good decentralized applications are like a dog silently guarding. Unassuming, not seeking attention, but reliable, loyal, and always there. Even if developers leave, the system can continue to operate stably—that’s the real meaning of "exit testing."

To achieve these goals, breakthroughs are needed in two dimensions simultaneously: scalability and true decentralization. It’s not a choice between one or the other but a requirement to satisfy both. The good news is that Ethereum developers now have powerful enough tools. As long as development continues, this path will eventually be paved.