Stanford Blockchain Week: ZK, Modularity and Trends in the Bitcoin Ecosystem Development

During the Stanford Blockchain Week from August 26 to September 1, a series of conferences, summits, and events focused on the latest advancements in Blockchain technology. This article will focus on three key trends and their impact on industry development.

The Theory and Practice Optimization of Zero-Knowledge Proofs

Zero-Knowledge Proofs (ZKPs) have become one of the core topics of this conference. The academic community focused on breakthroughs in efficient folding schemes such as HyperNova and Protostar, as well as the application of zkSNARKs in batch Merkle proofs and ZK circuit formal verification.

At the same time, several startups showcased the innovative applications of ZKPs in various fields:

• Verifiable Computation: Nexus Labs and Modulus Labs
• Development tools and infrastructure: Ironmill and Succinct
• Private Trading: Nocturne and Hinkal

The ZKP ecosystem is showing a trend of specialization, with different companies focusing on specific aspects of the ZK process, such as connecting applications to provers and providing ZK proofs for specific verticals. This specialization reflects the increasing maturity of ZKP technology, while academic breakthroughs continuously open up new application scenarios for the technology, forming a positive interaction between theory and practice.

Modularity promotes "plug-and-play" composability

Modularity has become a hot topic recently, with different companies focusing on specific tasks within the blockchain technology stack (such as sorting, execution, data availability, etc.). The goal of this trend is to create a more composable technology stack, achieving a "plug-and-play" design space that allows developers to flexibly adjust the blockchain stack according to their needs.

Some developments worth noting include:

• Arbitrum's Stylus project: Aims to unify the execution environment of EVM and WASM code.
• Chainlink's CCIP: Aims to create industry-defining interoperability standards.
• Celestia: Exploring the History and Future of Modular Blockchain

It is worth noting that the main drivers of this trend are some more established companies, such as Arbitrum, Chainlink, and Celestia. This reflects their attempts to consolidate their ecosystem's leading advantage by enhancing composability and attracting more developers. For the entire blockchain industry, this "plug-and-play" approach helps lower the barriers to entry for new developers, while also allowing the tech stack to adapt to a wider range of application scenarios.

Refocusing the Bitcoin Developer Ecosystem

During the conference, there was a focus on the development and future of the Bitcoin ecosystem. Relevant discussions covered both technical and cultural aspects, including:

• Babylon Bitcoin Staking Protocol
• Contributions of projects like Ordinals and Taproot Wizards to innovation in the Bitcoin ecosystem
• Discussion on the Value of Bitcoin Ordinals Art

Erin Redwing, the COO of Ordinals, made an interesting point: if Bitcoin is "digital gold," then the artworks inscribed on it through Ordinals are equivalent to "digital jewelry." This analogy may provide ordinary users with a new way to interact with Bitcoin.

In addition, the emergence of new projects like Ordinals seems to have rekindled the interest of Ethereum developers in the Bitcoin ecosystem. They are attempting to introduce the design concepts, token economics, and implementation experience of Ethereum DApps into the Bitcoin ecosystem, which is expected to bring new vitality to this ancient system.

However, the Bitcoin community has always been conservative towards cultural and technological changes, and sometimes even shows hostility. Therefore, it is still too early to assert whether we are truly in a "Bitcoin Renaissance" period. Nevertheless, the potential development of the Bitcoin ecosystem is still worth close attention, especially from the perspective of transaction volume and cultural recognition.

Conclusion

The Stanford Blockchain Week showcased the diversity and vitality of the blockchain industry. From new consensus mechanism research to transaction and MEV modeling techniques, as well as new cryptographic primitives, these innovations could lay the groundwork for the future development of blockchain. This event successfully combined industry practices with academic research, bringing together the strengths of startups, mature protocols, and academia to collectively advance the field of blockchain, committed to building a more decentralized future.