Original Title: Hot Topics at EthCC 2025
Original Author: David C, Bankless
Original Translation: Shaw, Jinse Finance
Last week, the annual Ethereum Community Conference (EthCC) attracted thousands of attendees in Cannes, with the scorching Mediterranean weather doing little to dampen the enthusiasm of participants for the packed agenda.
While broader discussions surrounding Ethereum, the Ethereum Foundation, and the Ethereum Community Fund deserve separate analysis, the most striking signals from the conference came from the surrounding ecosystem—topics such as tokenized markets, mobile experiences, and privacy infrastructure were frequently mentioned in conversations at the event.
Privacy: Institutional Premise
Hearing so much discussion about privacy this week was refreshing; people are interested not only from a technical perspective (given the plethora of acronyms like TEE, FHE, MPC, ZK, etc.) but also from a practical, everyday life standpoint. Many people I spoke with had previously used consumer-facing privacy applications like ZKP2P and expressed excitement about Aztec's relaunch.
When discussing the future direction of privacy protection, the focus is on more broadly integrating zero-knowledge proofs into everyday on-chain activities, combined with trusted execution environments (TEE) to enhance security.
Indeed, multi-party computation and fully homomorphic encryption are recognized as top technologies worth pursuing, but there is a general consensus that, in their current forms (especially fully homomorphic encryption), they are too complex for practical application environments. However, Coinbase's Yehuda Lindell did introduce their open-source multi-party computation (MPC) library—an initiative aimed at raising security standards across the industry and addressing the talent shortage in MPC to drive related innovations.
In addition to discussing privacy as a key component of the vulnerabilities of our digital age, it is also a necessary condition for attracting institutions to blockchain.
Paul Brody, Global Blockchain Leader at Ernst & Young, pointed out in his speech that privacy is not a feature that businesses can choose to implement; it is a prerequisite for using blockchain in actual business operations. Coordination, rather than computation, is the core bottleneck for enterprises. While tokenized workflows and smart contracts can simplify contracts and reduce inventory costs, all of this is meaningless if sensitive information is leaked. Without privacy, no company will move high-value business logic or transactions onto the chain. This is especially true for institutions, particularly in the context of dark pools that are deeply entrenched in traditional stock trading. We need solutions that allow large participants to go on-chain without having to disclose every step of their operations.
Tokenized Markets: The Collision of Stocks and Blockchain
While Robinhood's announcement regarding tokenized stocks certainly attracted a lot of attention, I believe BackedFi also deserves credit for launching xStocks on the same day, allowing people to purchase popular stocks like $SPY, $NVDA, and $TSLA on Solana.
At the EthCC conference, most people still viewed these announcements as temporary measures. Yes, we can trade tokenized Apple stocks, but that is not new. The real excitement lies in our ability to use these as collateral for lending and incorporate them into yield strategies. So, we are currently in an awkward transitional phase—progress has been made, but integration has not yet been achieved.
However, beyond tokenized stocks, there is widespread excitement about tokenization in general, especially regarding commodities. Given the recent performance of uranium ore, uranium digital assets were mentioned in several discussions, while interest in tokenized gold remains strong.
The model is clear: start with familiar assets to prove the pipeline system's viability, then venture into markets where the advantages of blockchain's 24/7 settlement and fractional ownership clearly surpass traditional infrastructure.
Mobile First
One of the most exciting discussions at this conference came from the quietly rising experimental wave surrounding consumer crypto applications—almost without exception, these applications are built from a mobile-first perspective. Since most wallet activity currently comes from mobile devices, developers (and users) have considered product design, user interaction, and native mobile processes from the outset.
The upcoming redesign of Coinbase Wallet features social dynamics, which is particularly notable as it not only prioritizes mobile but also integrates the native mobile experience into the wallet's design.
Interestingly, there is great anticipation for how mobile applications will facilitate perpetual contract trading on Hyperliquid, especially with the applications Lootbase and Dexari. Robinhood's announcement of its own perpetual contract platform further fueled excitement. Overall, these applications showcase the endless possibilities that a thumb-operated design philosophy can bring: rapid execution, clear visuals, and gamified interfaces.
The EthCC conference reinforced what we see online: cryptocurrency is no longer just an endless debate about architecture; it is committed to solving issues of coordination, compliance, and high-quality consumer-oriented design. The question is not whether blockchain can support significant real-world applications, but how quickly we can make them usable, private, and portable, thereby truly making an impact.
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