Ethereum co-founder Vitalik Buterin mentioned the Ethereum community must undergo three main technical transitions associated to Layer-2 scaling, pockets safety, and privateness because it matures from a “younger experimental know-how right into a mature tech stack.”
Buterin added that these transitions should be executed “roughly concurrently” to make sure success and if any of them fall brief, then the community will seemingly fail attributable to sure elementary points that can come up as a consequence.
He made the assertion in a June 9 weblog publish that exposed a brand new roadmap for the Layer-1 blockchain community, the place he additionally mentioned the essential points plaguing Ethereum’s future that must be addressed.
Buterin mentioned:
“It’s not simply options of the protocol that want to enhance; in some instances, the way in which that we work together with Ethereum wants to vary fairly basically, requiring deep modifications from functions and wallets.”
Layer-2 scaling
In accordance with Buterin, Layer-2 rollups resolve a essential subject plaguing the Ethereum community — excessive gasoline charges. If customers don’t undertake rollups en masse, then gasoline charges will stay absurdly excessive, with a single transaction doubtlessly costing greater than $80 throughout a bull run.
Even within the present crypto winter — thought-about by many to be the harshest in historical past — gasoline charges for Ethereum transactions are often round $3. Buterin believes that is unsustainable and Layer-2 adoption is the one solution to resolve it.
Failure to take action will finally lead to customers turning to “centralized workarounds” that can be extra intuitive and cheaper to make use of.
Pockets safety
Buterin believes that crypto wallets are less than par at present in the case of consumer expertise and safety, which is a essential subject for the expansion of the community.
In accordance with Buterin, if pockets safety isn’t improved, then customers won’t ever really feel comfy with the self-custody of property and can choose to show to centralized choices like exchanges.
He additionally mentioned that the interoperability of wallets and networks is vital because it allows a extra seamless expertise for customers in the case of utilizing cryptocurrency in day-to-day transactions like shopping for groceries.
Buterin mentioned:
“I’ve cash on Scroll, and I wish to pay for espresso. You’re promoting me the espresso, however you might be solely set as much as obtain cash on Taiko. Wat do?”
He prompt the idea of a “receiving pockets” as one solution to resolve this conundrum. Such a pockets would help the overwhelming majority of Layer-2 networks and would have the ability to consolidate funds asynchronously.
Another choice could be to develop cross-L2 bridging system so senders’ wallets are in a position to routinely ship funds to the precise vacation spot.
Privateness
One other key subject that threatens Ethereum’s success in changing into the go-to community for the common consumer is the dearth of privateness in the case of particular person transactions.
Buterin believes that individuals would detest utilizing crypto of their every day lives if there’s a public file of their transactions that’s simply traceable to them.
He made a number of options round utilizing stealth addresses however admitted that points round privateness stay a serious downside with no simple resolution in sight.
