Ethereum co-founder Vitalik Buterin stated the Ethereum community must undergo three main technical transitions associated to Layer 2 scaling, pockets safety and privateness because it goes from a “younger experimental expertise to a mature expertise stack”.
Buterin added that these transitions should be executed “roughly concurrently” to make sure success and if any of them fail, the community will doubtless fail attributable to some basic points that may outcome.
He made the assertion in a June 9 weblog submit that exposed a brand new roadmap for the Layer-1 blockchain community, the place he additionally mentioned vital points plaguing the way forward for Ethereum that should be addressed. resolved.
Buterin stated:
“It is not simply the performance of the protocol that must be improved; in some circumstances, the best way we work together with Ethereum wants to alter fairly basically, requiring deep adjustments to apps and wallets.
Layer 2 scaling
In line with Buterin, Layer 2 rollups resolve a vital drawback plaguing the Ethereum community – excessive fuel charges. If customers do not embrace bulk rollups, fuel charges will stay absurdly excessive, with a single transaction costing upwards of $80 on a bull run.
Even within the present crypto winter – thought-about by many to be the harshest in historical past – fuel charges for Ethereum transactions are sometimes round $3. Buterin believes that is unsustainable and adopting Layer 2 is the one method to repair it.
In case you do not, customers will finally flip to “one-stop workarounds” which shall be extra intuitive and cheaper to make use of.
Pockets Safety
Buterin believes that crypto wallets presently fall brief relating to person expertise and safety, which is a vital subject for community development.
In line with Buterin, if pockets safety will not be improved, customers won’t ever really feel snug with self-custody of property and can as an alternative flip to centralized choices like exchanges.
He additionally stated that pockets and community interoperability is necessary as a result of it permits for a extra seamless expertise for customers relating to utilizing cryptocurrency in day-to-day transactions like buying e-commerce merchandise. grocery retailer.
Buterin stated:
“I’ve cash on Scroll and I wish to pay for a espresso. You promote me the espresso, however you might be solely configured to obtain cash on Taiko. What to do?”
He prompt the idea of the “receiver pockets” as a method to resolve this conundrum. Such a pockets would help the overwhelming majority of Layer 2 networks and be capable to consolidate funds asynchronously.
Another choice can be to develop an inter-L2 bridging system in order that sender wallets can robotically ship funds to the proper vacation spot.
Privateness
One other key subject that threatens Ethereum’s success in changing into the go-to community for the common person is the dearth of privateness relating to particular person transactions.
Buterin thinks individuals would hate to make use of crypto of their every day lives if there was an simply traceable public file of their transactions.
He made a number of recommendations relating to using stealth addresses, however admitted that privateness points stay a significant subject with no straightforward answer in sight.
