An Authoritative Record of Ethereum Market Research

Ethereum Market Research Center

Original research and sharp opinions on Ethereum's protocol, economics, and systems. Read by the people building and using it.

Decentralization

Apr 21 Reports
stakefish — The State of Ethereum in 2026 stakefish's mid-year reading of Ethereum captures a network in institutional transition: 37M ETH staked, 900,000+ validators, a 71-day entry queue…
stakefish3 min
Nov 10 Opinion
Ethereum Is Not a Blockchain: It’s a New System with Internet-Like Properties There’s a common shorthand that reduces Ethereum to a “blockchain.” It’s not wrong, but it’s incomplete — a category error…
William Mougayar4 min
Oct 29 Featured
The Institutional Layer of Ethereum: Obol Thesis Ethereum now serves as the financial backbone of the Internet. Over $230 billion in tokenized assets, stablecoins, and DeFi collateral…
Obol1 min
Oct 09 Featured
Institutions Embrace Distributed Validators as Ethereum Marks 10th Birthday In Q3 2025, Obol achieved a series of pivotal milestones that underscore its growing influence in Ethereum’s staking ecosystem. Chief…
Obol1 min
Oct 09 Reports
Ethereum’s Fusaka Upgrade: Scaling Smartly Without Sacrificing Decentralization Ethereum’s roadmap has always been defined by a delicate balancing act: scaling for global use while remaining decentralized enough for…
EMRC5 min
Sep 26 Featured
Q&A with Danny Ryan on The Race To Rewire Wall Street with Ethereum The Forbes piece written in a Q&A style argues Wall Street’s legacy financial systems are inefficient, with slow settlement and…
Forbes1 min
Jul 07 Opinion
Trust Is the Final Blockchain Frontier Speed, features, and promises can be copied—trust cannot. It’s earned, not declared. Ethereum is proof that time matters. In the…
William Mougayar4 min
Jul 05 Opinion
Decentralization is Not an Aesthetic A Call to Action for Ethereum Builders to Uphold Credible Neutrality, Privacy, and Resilience Decentralization is not an aesthetic. It’s…
Vitalik Buterin5 min
Jun 10 Featured
The Ethereum Foundation’s Trillion Dollar Security Project The Trillion Dollar Security (1TS) initiative represents a broad, collaborative push to enhance Ethereum’s overall security. This document marks the…
Ethereum Foundation2 min
Jun 06 Opinion
Stop Comparing Solana to Ethereum There are fundamental differences that separate Ethereum’s long game from Solana’s shortcut strategy While Ethereum and Solana may both claim…
William Mougayar5 min
Jun 03 Opinion
The Hardness That Defines Ethereum Ethereum’s distinctive property is hardness. We usually talk about Ethereum’s core properties as things like “decentralized trust”, censorship resistance, digital…
Josh Stark3 min
May 30 Reports
Understanding FOCIL – EMRC FOCIL (Fork-Choice Enforced Inclusion Lists) is a proposed Ethereum upgrade (EIP-7805) that enhances censorship resistance by requiring validators to enforce…
EMRC1 min
May 29 Opinion
In Defense of Chain Neutrality As “net neutrality” defined the ethos of an open internet, “chain neutrality” must now define the integrity of blockchains. It…
William Mougayar1 min
May 24 Opinion
Can You Be Half a Gangster? Solana’s Identity Crisis in a World of Extremes This is the main question facing Solana today. Can a blockchain straddle…
Grant Hummer4 min