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Vitalik Buterin considers Ethereum development only ‘55% complete’ after The Merge

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Ethereum founder Vitalik Buterin believes that the history of Ethereum is moving off-chain to reduce the complexity of the protocol.

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Speaking on the EthCC main stage on July 21 about the long-term future of Ethereum, Vitalik stated that Ethereum is in transition and is only “40% complete”.

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Vitalik

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According to Vitallik, there are five stages of Ethereum evolution ahead; merge, splash, edge, purge and ruin.

The merge will happen around September when Ethereum finally moves to proof of stake, the surge is due to the introduction of sharding, the edge introduces verkle trees, the cleanup will reduce the hard drive space needed for validators, and the bust will do “everything”. other fun stuff.”

Vitalik argued that:

“The difference between Bitcoin and Ethereum is that Bitcoiners believe that Bitcoin is 80% complete, while Ethereumists believe that Ethereum is 40% complete.”

After this year’s merger, Vitalik believes that “eeveryone who is working hard on it should be very happy at this moment.” In addition, he believes that Ethereum will be “55% ready.” Then comes sharding, which will raise Ethereum “to 100,000 transactions per second after the spike.”

The next part of the roadmap is the frontier he expects in “2023 or maybe 2024.” With this information in mind, Vitalik points out that sharding should be implemented on the Ethereum mainnet sometime in 2023.

The founder of Ethereum discussed the long-term future of Ethereum and how it needs to continue to increase “features” while reducing “difficulty.”

Regarding the edge and integration of Verkle trees, Vitalik promoted the need to reduce the number of data validator nodes needed for storage, giving the analogy that

“No one will use a version of BitTorrent that requires every user to download every movie.”

The current state of blockchain technology is that all nodes must store the history of the entire blockchain, which creates an ever-increasing need for more memory.

Vitalik argued that as Ethereum develops, this will not be necessary. Level 1 should aim for “safety and reliability” and Level 2 should be optimized for “quick iteration and action”.

EIP4444 will eliminate the need for nodes to store the entire history of the Ethereum blockchain, and Vitalik believes that tools like The Graph will be enough to store past data. However, the Ethereum protocol will not be responsible for storing this information.

Vitalik reasoned that people need scalability and decentralization, and therefore you cannot require nodes to store this ever-growing data.

As we move forward, Vitalik believes we should focus on “upgrades for quantum resilience”, increasing the transaction space at the core level if ZK-EVMs “work well”, introducing new “better” types of cryptography, and “keeping an open mind”. “.

In Vitalik’s vision of a simpler, more concise version of the Ethereum protocol, someone should be able to understand the entire protocol if given enough time, effort, and ability. He states that the modern school of thought is “normal if no one person can understand the protocol, because we can specialize.” This kind of thinking is not in line with the future of Vitalik’s Ethereum.





Credit : cryptoslate.com

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