We have an opportunity to cement Ethereum as the economic hub of the internet. This opportunity is not guaranteed or permanent, there are many other networks that would be happy to beat us in achieving that outcome. Institutional capital is coming for ETH, but onchain activity has been ranging between 1-1.5 million transactions per day since 2021.

We need to focus on converting the institutions to being onchain users. The best way to do that is by making transactions cheaper and faster. Censorship is not currently a problem, any continued discussion of FOCIL (EIP-7805) is a waste of time.

Spending time implementing something that doesn’t solve immediate problem for our new users gives up momentum to other networks that are relentlessly focusing on users.

This is why I support enshrined payload-block separation (ePBS or EIP-7732) or 6 second slots (EIP-7782). My final preference will depend on how the ePBS free option problem shakes out. Either way, it is time to focus on faster and cheaper transactions. We can bring back the censorship resistance discussion when we know it is solving a problem for our users.

For all the cypherpunks thinking about censorship resistance, consider refocusing your efforts on zero-knowledge wormholes (EIP-7503). This gives Ethereum and ETH a true value proposition over other networks and crypto assets. Right now, most crypto assets compete with each other based on their user experience (transaction latency), their monetary policy (issuance rate) and their purchasing power (price action). Privacy coins exist but do not have adoption to the point where privacy is a true differentiator between crypto assets. A privacy enabled form of ETH has far more utility than ZEC or XMR because Ethereum has liquidity, DeFi and stablecoins. Privacy enabled ETH extends its utility to all assets on the platform by enabling a user to move between positions without letting copy traders or centralized exchanges know. Why would smart money give away its alpha on another chain when it could utilize privacy on Ethereum? If we want to make ETH the most useful crypto asset, we need to prioritize EIP-7503.