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.

Ecosystem

Feb 03 Reports
Ethereum Scaling: An Evolving and Strengthening L1–L2 Relationship Ethereum isn’t moving away from L2s—it’s entering a stronger phase where L1 scaling and L2 innovation advance together. As Ethereum…
Vitalik Buterin4 min
Dec 11 Reports
The Internet's Blueprint for Ethereum: A Trillion-Dollar Public Goods Valuation Framework This report argues that Ethereum is fundamentally mispriced because markets value it as a for-profit company rather than as a…
William Mougayar2 min
Dec 09 Featured
Unpacking the State of Ethereum in South Korea This report provides a comprehensive analysis of Ethereum’s development, usage patterns, and regulatory environment in South Korea as of 2025.…
Obol2 min
Dec 04 Featured
The Future of Financial Infrastructure: Ethereum’s Layer 2 Landscape The report offers a broad assessment of the upgradeability and management practices across current Layer-2 (L2) blockchain systems. As the…
Etherealize, Nethermind, L2Beat1 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
Aug 26 Featured
Kaiko Blockchain Ecosystem Ranking Q2 2025 Report Kaiko’s Blockchain Ecosystem Ranking evaluates 15 major networks through a proprietary framework that blends both quantitative metrics and qualitative assessments.…
Kaiko1 min
Aug 25 Opinion
Ethereum as the Amazon of Blockchain When Amazon was founded in the mid-1990s, few could imagine that an online bookstore would evolve into one of the…
William Mougayar7 min
Jun 30 Opinion
Monetary Sovereignty and Ethereum: Why ETH Must Be the Currency of Its Realm In the architecture of any sovereign system—whether a nation-state or a decentralized protocol—monetary control is foundational. Just as a country…
Joe Lubin5 min
Jun 10 Reports
The Ethereum Way: What Are Ethereum’s Core Values? – EMRC Ethereum is more than a blockchain protocol, it is a living ecosystem governed by a distinct set of values. These…
EMRC4 min