Vitalik Buterin, the co-founder of Ethereum (ETH), has outlined his vision for a plausible roadmap for ETH 2.0, the much-anticipated upgrade to the Ethereum network.
Buterin looks forward to a future where Ethereum, the largest smart contract platform, will become more scalable while meeting high standards for trustlessness and censorship resistance.
Read Also: Former Goldman Sachs executive Raoul Pal Expects Ethereum (ETH) to hit $20,000 Latest March
Vitalik Buterin, in a blog post published on Monday 6th December titled “Endgame”, presented a thought experiment for how Ethereum can still be considered sufficiently trustless and censorship-resistant.
Although solutions proposed by Buterin as presented in the blog post, do not address the centralization issue, they still provide a roadmap for implementation.
Regarding the solutions, Ethereum co-founder suggested “a second tier of staking, with low resource requirements.” For distributed block validation, he said, “introduce either fraud proof or ZK-SNARKS to let users directly (and cheaply) check block validity.”
With these updates, Buterin explained further that “We get a chain where block production is still centralized, but block validation is trustless and highly decentralized, and specialized anti-censorship magic prevents the block producers from censoring.”
He pointed out that the centralization of block production would not change even with the implementation of rollups, the layer-2 solutions that execute transactions outside of the Ethereum chain:
“No single rollup succeeds at holding anywhere close to the majority of Ethereum activity. Instead, they all top out at a few hundred transactions per second.”
In conclusion, Ethereum co-founder pointed out that there is a high probability that block production will remain centralized irrespective of the path to scalability taken by the network. According to Vitalik Buterin, the benefit of Ethereum’s rollup-centric roadmap is that it’s open to all futures.
Follow us on Twitter, Facebook, Telegram, and Download Our Android App
