Bangkok Meets Ethereum: My DEVCON 7 Experience
November 2024 Commentary
This month, we’re bringing you something a little different. Firinne’s Victor Li traveled to Thailand last month to attend DEVCON, as part of our commitment to participate in the digital assets ecosystem. What follows are his thoughts and impressions from attending.
Few events capture the evolving ethos of the blockchain world quite like DEVCON, the biannual gathering of Ethereum’s developers, researchers, and stakeholders. Held from November 12th to 15th, 2024, at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, DEVCON 7 offered more than technical discussions; it was a showcase of the Ethereum ecosystem’s ambition to redefine trust, security, and decentralization.
For me, this was my second time attending DEVCON but my first visit to Thailand, a country whose dynamic blend of culture and innovation mirrored the ethos of the Ethereum community. The choice of Bangkok reflected Ethereum’s growing global footprint and Southeast Asia’s growing role in the cryptocurrency space. India, Indonesia and Vietnam are among the top 5 countries in terms of crypto adoption. With rapid adoption of blockchain and a youthful, tech-savvy demographic, the region has become a testing ground for Ethereum applications, making it a good place to hold DEVCON.
The convention center was impressive! There was plenty of room for the 12,000+ attendees who came from 135 countries. I really appreciated the blend of modern architectural elements with traditional Thai design – very functional and elegant! The agenda was broad and deep, with over 300 hours of workshops, panels, and keynotes covering topics from core protocol development to cryptographic breakthroughs. The energy at the convention reflected the energy of bustling Bangkok!
The opening ceremony of DEVCON 7 highlighted the Ethereum community’s ability to blend cultural richness with cutting-edge technology. The event began with a traditional Thai dance, featuring DEVCON’s colorful dragon mascot, a great way to set the stage for what was to follow. The highlight of day 1, however, was the keynote address by Vitalik Buterin, Ethereum’s co-founder, who articulated a vision of the network as a decentralized "world computer." Emphasizing its dual role in fostering a diverse on-chain economy and a global community, Buterin also reflected on Ethereum’s transition to Proof of Stake, a landmark move that enhanced the network’s decentralization, security, and energy efficiency. He highlighted the importance of Layer 2 solutions, such as Optimistic Rollups and ZK Rollups, in driving scalability and reducing transaction costs while urging the community to maintain Ethereum’s core principles of decentralization, security, and accessibility.
During the opening session, Aya Miyaguchi, Executive Director of the Ethereum Foundation, also delivered a thought-provoking address that expanded on the metaphor of Ethereum as an “Infinite Garden.” Borrowing from the framework of infinite games described by James P. Carse, Miyaguchi presented Ethereum not as a finite project with a defined endpoint, but as a dynamic, evolving ecosystem built by its global community. She characterized the Ethereum Foundation as a "gardener," fostering innovation and growth without exerting control. She stressed the importance of diversity and long-term thinking, urging participants to view their individual contributions as seeds that collectively cultivate Ethereum’s decentralized future. Together, these speeches reflected Ethereum’s overarching ethos: a blend of technological ambition and a commitment to inclusivity and sustainability.
By 5 p.m. on the first day of DEVCON 7, anticipation reached a peak as Ethereum Foundation researcher Justin Drake took the stage to unveil his "Beam Chain" proposal. This was no ordinary technical session; it was the highlight many, including me, had been waiting for. After a year of development, Drake presented his ambitious plan to overhaul Ethereum’s consensus layer, aiming to modernize the network and tackle its inefficiencies.
The Beam Chain is designed to replace the Beacon Chain, which has served as Ethereum’s Proof of Stake backbone since The Merge in 2022. Among its key features is reducing block times from 12 seconds to 4, promising faster transactions and near-instant finality. Drake also proposed lowering the validator stake requirement from 32 ETH to 1 ETH, a change intended to broaden participation and enhance decentralization. The most forward-looking feature is the integration of zero-knowledge proofs (zk-SNARKs), which would improve scalability and privacy while preparing Ethereum for the potential security challenges posed by quantum computing.
No significant proposal comes without debate. Supporters praised Drake’s phased implementation plan, which stretches to 2030, as necessary for Ethereum’s complexity and scale. Critics, however, expressed concern over the extended timeline, arguing that it could hinder Ethereum’s competitiveness in a fast-moving blockchain landscape. For an open-source decentralized network, like Ethereum, anyone can make a proposal. The change would be adopted only if a consensus is reached after debating among the developers and researchers. Not even Vitalik Buterin can force a change to the Ethereum protocol without community consensus.
Cryptography was a central focus at DEVCON 7, a fitting emphasis given its foundational role in blockchain technology. While “crypto” has come to mean cryptocurrency in popular parlance, it is cryptography that underpins blockchain’s architecture and ensures its trustless design. Among the 12 sessions explicitly addressing cryptography, one presentation stood out: a keynote by "gubsheep," a pseudonymous co-founder of the non-profit research group 0xPARC Foundation. Funded entirely by donations, 0xPARC is dedicated to advancing programmable cryptography, which gubsheep described as a “second generation” of cryptographic primitives. These new primitives allow arbitrary programs to be executed within or on top of cryptographic objects, amplifying Ethereum’s existing properties - verifiability, confidentiality, and non-interactivity. With striking clarity, he outlined how programmable cryptography could reshape the Internet over the next half-century, offering a glimpse of blockchain’s potential beyond financial applications.
As DEVCON 7 drew to a close, the Ethereum community reaffirmed its commitment to more than just technology. The principles of decentralization, security, and privacy were upheld in the event’s ambitious proposals and practical discussions, particularly around scalability. Equally striking was the inclusiveness of the community, with diverse voices shaping governance, applications, and adoption. Over the four days, I enjoyed attending informative presentations and engaging with inspiring developers and researchers from around the world, many of whom I’ve since stayed connected with through Telegram and LinkedIn. The closing ceremony, featuring vibrant local dances and music, was a fitting tribute to the fusion of culture and innovation that defined this year’s conference. As I reflect on the friendships made and the knowledge shared, I feel confident in the future of the Ethereum network. With great anticipation, I look forward to attending the next DEVCON in 2026.