Ethereum, Bitcoin & Solana: Decentralization, Demand & Leadership Shifts Unveiled

Ethereum Rollup Scroll Achieves Decentralization Milestone

Scroll, an Ethereum Layer 2 scaling solution utilizing zero-knowledge proofs, has announced it has reached “Stage 1” decentralization. According to Scroll, this makes it the first Ethereum Layer 2 of its kind to allow users to exit independently, without relying on a central operator. The recent Euclid upgrade, approved by user vote, ensures that even if the primary operator fails or attempts to censor transactions, users can still process their transactions on Ethereum. This upgrade introduces a user-controlled exit window and enforces strict limits on the powers of the Security Council.

The Security Council consists of 12 members, with at least nine required to agree on any action. Importantly, only two council members may be from Scroll, and at least seven must be independent. All system changes must be voted on and are subject to a three-day waiting period before implementation, giving users time to exit if they disagree with the changes. Scroll has also introduced OpenVM, a tool developed with Axiom, which breaks down large transactions into smaller, more manageable proofs, improving reliability and system efficiency. Despite launching later than competitors like zkSync Era and Polygon zkEVM, Scroll is now preparing for “Stage 2,” where the system would operate entirely on code, removing any central authority, including the Security Council.

Coin	Price
BTC	$95,086.00
ETH	$1,810.05
SOL	$147.77

Scroll is the first Ethereum Layer 2 using zero-knowledge proofs to reach “Stage 1” decentralization.
The Euclid upgrade introduces a 12-person Security Council with strict rules and a user-controlled exit window.
OpenVM, developed with Axiom, enhances system efficiency by breaking down large transactions.

Source: Decrypt

“While Scroll has always had a fully functional zk proof system, users previously had to trust the centralized sequencer to avoid censorship or downtime. That’s no longer the case.” — Scroll team

Infobox: Scroll’s decentralization milestone increases user safety and system resilience, setting a new standard for Ethereum Layer 2 solutions.

BlackRock CIO: Bitcoin Outpaces Ethereum in Institutional Demand

Samara Cohen, Chief Investment Officer of ETF and Index Investments at BlackRock, has clarified the firm’s stance on Bitcoin and Ethereum. In an interview, Cohen stated that Bitcoin stands “decisively ahead” of Ethereum in terms of client demand and portfolio integration. BlackRock’s iShares Bitcoin Trust (IBIT) has become the most successful ETP launch in history, with about half of its holders being self-directed investors. For three-quarters of these, IBIT was their first ETP purchase, motivated by a desire to hold Bitcoin in an ETP wrapper.

While BlackRock has also launched Ethereum-based ETPs, Cohen described institutional demand for Ethereum as “a distant second.” She highlighted the complexity of Ethereum’s investment thesis, noting that while the utility of the Ethereum blockchain is recognized, it is unclear how this translates into value for the native token. Cohen also pointed out the lack of standardized data and metrics in the crypto sector, making it difficult for institutions to apply traditional portfolio models. BlackRock recommends a 1–2% Bitcoin allocation for investors, warning that exceeding 2% could exponentially increase portfolio volatility. At the time of reporting, Bitcoin traded at $95,120.

BlackRock’s iShares Bitcoin Trust (IBIT) is the most successful ETP launch in history.
Institutional demand for Ethereum remains significantly lower than for Bitcoin.
BlackRock recommends a 1–2% Bitcoin allocation for portfolio diversification.

Source: Bitcoinist.com

“Ethereum is still a distant second.” — Samara Cohen, BlackRock CIO

Infobox: BlackRock’s analysis underscores Bitcoin’s dominance in institutional portfolios, with Ethereum facing challenges in standardization and value accrual.

Solana, Bitcoin, and Ethereum: A Comparative Analysis

According to Institutional Investor, Solana has emerged as a formidable player in the crypto market, offering high-speed, low-cost transactions and supporting a variety of decentralized applications. Over the past three months, SOL (Solana’s native token) has exhibited realized volatility of around 80%, making it nearly twice as volatile as Bitcoin and about one-third more volatile than Ether. Despite this volatility, SOL prices have outperformed both Bitcoin and Ether for most of the past year and a half, although all three experienced sharp declines in late February and early March.

The one-year rolling correlation of SOL with both Ether and Bitcoin is approximately +0.7, indicating a strong positive relationship, though slightly less than the correlation between Bitcoin and Ether themselves. All three cryptocurrencies are also positively correlated with the Nasdaq-100, with correlations around +0.4. In terms of technical differences, Bitcoin requires 112 trillion calculations to mint a new coin and supports about seven transactions per second. Ether, using proof of stake, can handle up to 30,000 transactions per second. Solana, which uses both proof of history and proof of stake, is more than twice as fast as Ether and nearly 10,000 times faster than Bitcoin. Bitcoin has a hard cap of 21 million coins, Ether is limited to 18 million coins per year, and Solana’s supply is currently growing at about 4.5% per year, with a long-term target of 1.5% annual growth.

Cryptocurrency	Transaction Speed	Supply Limit	Recent Volatility
Bitcoin	7 TPS	21 million	Lower
Ethereum	30,000 TPS	18 million/year	Medium
Solana	~60,000 TPS	4.5% annual growth (target 1.5%)	80% (last 3 months)

SOL has outperformed BTC and ETH in price performance over the past 18 months.
Solana’s volatility is significantly higher than its competitors.
Solana’s transaction speed and supply model differ markedly from Bitcoin and Ethereum.

Source: Institutional Investor

Infobox: Solana’s high speed and volatility set it apart, while its correlation with major cryptocurrencies and tech stocks remains strong.

Ethereum Foundation Announces New Leadership Structure

The Ethereum Foundation has appointed Hsiao-Wei Wang and Tomasz Stańczak as co-executive directors, signaling a strategic shift towards increased operational focus and adaptability. This leadership change comes as Ethereum prepares for long-term expansion amid rapid technological advancements and growing institutional interest. The Foundation’s new dual leadership model aims to share responsibilities and enhance flexibility in managing a distributed platform that serves millions of developers, users, and businesses worldwide.

Hsiao-Wei Wang brings over seven years of experience at the Foundation, having played a key role in the creation of the Ethereum beacon chain and in community engagement, particularly in Asia. Tomasz Stańczak, founder of the Ethereum execution client Nethermind, has a background in corporate leadership and software engineering, and his appointment reflects a move towards greater integration of client teams into the Foundation’s leadership. Former Executive Director Aya Miyaguchi has transitioned to the role of President, likely focusing on institutional relationships and high-level partnerships. The leadership restructuring is intended to provide operational efficiency, balance, and transparency as Ethereum enters a new phase of development.

Hsiao-Wei Wang and Tomasz Stańczak are the new co-executive directors of the Ethereum Foundation.
The dual leadership model is designed to improve flexibility and strategic direction.
Aya Miyaguchi becomes President, focusing on institutional partnerships.

Source: FinanceFeeds

Infobox: The Ethereum Foundation’s leadership overhaul aims to strengthen governance and prepare for the next decade of growth and innovation.

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