Ethereum News Today: Ethereum's '1995 Moment' Arrives as Buterin and Xiao Feng Launch App-Driven Era

Vitalik Buterin, co-founder of Ethereum, and Dr. Xiao Feng, chairman of HashKey Group, announced the launch of the Ethereum Applications Guild (EAG) on October 2, 2025, during the Token2049 summit in Singapore. The initiative aims to accelerate the development and real-world implementation of Ethereum-native applications by fostering collaboration among developers, researchers, and institutionsVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1]. Unlike traditional foundations or accelerators, EAG functions as an open initiative focused on building a global collaborative network centered on Ethereum's application layerEthereum Applications Guild (EAG) Launched at Token2049^[2]. The project leverages the Shanhaiwu incubation hub, a three-year-old collaborative space initiated by Xiao Feng, which has operated in locations such as Beijing, Chiang Mai, and SingaporeEthereum Applications Guild (EAG) Initiative^[3].

EAG's primary objective is to shift Ethereum's ecosystem focus from infrastructure-centric growth to application-driven development. By prioritizing end-user-centric solutions, the initiative seeks to expand adoption in sectors like DeFi, NFTs, DAOs, and gamingVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1]. As of October 2025, Ethereum's market valuation stood at $500 billion, with its native token trading at $4,180. The DeFi segment alone reported a locked value of $50–60 billion, while daily transactions averaged 1.2 millionVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1]. Layer 2 solutions, such as HashKey Chain, are highlighted as critical enablers for improving dApp usability and scalability, aligning with EAG's application-centric approachVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1].

The initiative emphasizes decentralized governance and community self-governance, reflecting Ethereum's core ethos. EAG's framework encourages participation from ETH treasury companies, Layer 2 teams, developer communities, and research institutions, aiming to create a sustainable co-construction modelVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1]. Xiao Feng, a leader in the Shanhaiwu project, brings extensive Web3 experience and regional influence, while Buterin's technical leadership in Ethereum's transition to proof-of-stake underscores the project's strategic directionVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1]. However, EAG remains in its initial consensus phase, with governance structures and community frameworks still under developmentVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1].

EAG's launch marks a pivotal moment for Ethereum's application layer, with Xiao Feng describing it as a step toward a "1995 moment" in blockchain history-a reference to the early days of the internet's explosive growthEthereum Applications Guild (EAG) Launched at Token2049^[2]. The initiative is positioned to compete with other blockchain ecosystems by addressing structural gaps in public goods funding, cross-border collaboration, and large-scale application deploymentEthereum Applications Guild (EAG) Launched at Token2049^[2]. By focusing on real-world problem-solving and enterprise integration, EAG aims to establish a new paradigm for Ethereum buildersEthereum Applications Guild (EAG) Launched at Token2049^[2].

Currently, EAG invites global stakeholders to join its open initiative, with contact@shanhaiwoo.com designated as the primary point for collaborationEthereum Applications Guild (EAG) Launched at Token2049^[2]. The project's success hinges on its ability to unify diverse stakeholders and transition Ethereum from an infrastructure-driven model to one driven by practical applications and user adoptionVitalik Buterin and Dr. Xiao Feng Launch Ethereum Applications Guild^[1]. As the ecosystem evolves, EAG's emphasis on decentralized governance and open collaboration could reshape Ethereum's trajectory, potentially catalyzing a new era of decentralized innovationEthereum Applications Guild (EAG) Initiative^[3].