Sunday, August 14, 2022
HomeBlockchainVitalik Buterin Outlines His Vision for a Plausible Roadmap for Ethereum 2.0

Vitalik Buterin Outlines His Vision for a Plausible Roadmap for Ethereum 2.0

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.”

<

Read Also: Ethereum Users To Soon Be Able To Make Private Transactions As Tornado Cash Set To Launch On Arbitrum Layer Two Network

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

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles

Recent Comments