As in previous years, 2024 saw plenty of innovation within web3 as a panoply of leading and upcoming projects pushed the boundaries of what was possible to drive the industry forward. From hard forks and hackathons to technical blueprints and strategic partnerships, all systems were very much go over the last 12 months – and there’s no reason to think 2025 will be any different.
With blockchain tech continuing to mature, certain topics remain fixed as if by magnet to the agenda, scalability, cost efficiency, governance, and UX among them. Championed by dedicated developer communities, optimizations in these areas continue to shape the industry.
With this in mind, let’s look at five projects that made significant strides through optimization over the last year.
Ethereum: Rollup-Centric Optimization with Cancun-Deneb
The Ethereum network recorded a major milestone with the implementation of the Cancun-Deneb (Dencun) upgrade last March. The comprehensive hard fork, which followed the successful Shanghai-Capella upgrade of 2023, brought tangible improvements to both the execution layer (Cancun) and consensus layer (Deneb).
At the heart of Dencun lies danksharding and proto-danksharding, groundbreaking features designed to maximize the network’s scalability. By expanding storage capacity for data structures and reducing gas expenses for Layer-2 rollup users, Dencun has dramatically levelled up efficiency across the board. For decentralized applications (dApps) in particular, the improvements translate to faster transaction speeds and increased network capacity, further cementing Ethereum’s status as a leading chain for innovation.
Solana: State Compression for Cost Efficiency
Solana’s novel state compression technology marks a notable advancement in blockchain storage optimization. The approach, which stores ‘fingerprints’ (hashes) of offchain data in the eponymous ledger rather than in expensive accounts, has the effect of reducing on-chain storage costs – and has been particularly transformative for NFT creators, enabling bulk minting at a fraction of the cost of other networks.
The high throughput platform’s commitment to scalability was further demonstrated at last year’s Breakpoint conference, where third-party validator client software Firedancer was showcased. With its capability to process 1 million transactions per second on just 100 nodes, Firedancer – which is slated for 2025 launch – underlines Solana’s bonafides, positioning it as a go-to platform for developers seeking cost-effective, high-performance solutions.
EOS: Dynamic Resource Management for Scalability
EOS’s 2024 transformation was bound up with its hard fork to Antelope Spring 1.0 and the incorporation of its Savanna consensus algorithm, which slashed transaction finality to just 1 second – a hundredfold improvement over its predecessor. But the network didn’t stop there. There was also the launch of a 250M staking rewards program that incentivized early stakers with an initial APY exceeding 60%.
In addition, the implementation of revamped tokenomics – including a reduction in the $EOS supply cap from 10 billion to 2.1 billion – underscored the platform’s commitment to sustainable growth. A subsequent integration with leading self-custody wallet MetaMask through its Snap feature, meanwhile, reduced friction for users and developers, making EOS more accessible than ever.
Polygon zkEVM: ZK Rollups for Greater Security and Speed
Polygon has done more than virtually any blockchain platform for the promotion of zero-knowledge (ZK) technology and its benefits for privacy and security. January’s introduction of AggLayer, which seeks to unify ZK chains through proof aggregation and Ethereum settlement, was a key milestone – while July’s release of Polky3, an open-source toolkit that empowers ZK devs to build their own virtual machines, changed the game.
As the first ZK scaling solution fully compatible with the Ethereum Virtual Machine, Polygon zkEVM has established a more accessible environment for devs while maintaining robust security and performance standards. These developments have undoubtedly solidified the chain’s position as a crucial player in the web3 infrastructure space.
Cardano: Mithril for Decentralized Governance
Cardano’s focus on the Mithril upgrade reiterated its commitment to enhancing staking and decentralized governance in 2024. A stake-based multi-signature protocol that leverages Cardano to provide certified blockchain state snapshots, Mithril improves the efficiency of voting, data exchange, and sidechain synchronization, among a plethora of other use-cases.
By ensuring reliable blockchain state data for staking and on-chain governance applications, Mithril addresses long-standing scalability challenges while paving the way for wider adoption of Cardano.
Relentless Innovation
Although the crypto scene is unpredictable, one thing is guaranteed when it comes to blockchain: relentless innovation. Developer communities who fail to optimize and innovate, who stand still rather than move forward, simply cannot compete. With this in mind, expect new benchmarks for performance, efficiency, and user experience in 2025, creating a stronger foundation for the future of web3.
