An Ethereum researcher’s social media submit has sparked hypothesis over a possible answer for the layer-1 blockchain’s scalability challenges.
On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “bold” initiative for Ethereum. Drake stated he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpret as a step towards fixing its scalability points.
Supply: Justin Drake
The researcher stated his aim could be to counsel a technique to ship a Beacon Chain highway map. He’s anticipated to share the proposal at Devcon in Bangkok, Thailand, on Nov. 12.
Neighborhood speculates about ETH 3.0
Following Drake’s submit, rumors about an ETH 3.0 improve circulated among the many Ethereum group. On X, Ambient Finance founder Doug Colkitt posted a couple of rumor circulating that the ETH 3.0 announcement is a “second merge into a brand new consensus concentrating on 1-second block instances” and a local zero-knowledge Ethereum Digital Machine (zkEVM).
Supply: Doug Colkitt
Colkitt believes that if the rumors develop into correct, having a local zkEVM could be a “large” replace:
“The fuel restrict may be eradicated completely. Builders can construct arbitrarily giant blocks since nodes solely have to confirm the snark. The one scaling restrict left could be bandwidth.”
Colkitt expressed optimism {that a} zkEVM may imply arbitrary scalability and get rid of the necessity for layer-2 rollups.
Not everybody locally believes within the ETH 3.0 hypothesis. One group member thinks the rumor is “100% BS,” declaring that vital updates like this is able to have been signaled months prematurely. The group member famous that associated Ethereum Enchancment Proposals would possible have been filed if such an replace had been imminent.
Associated: Consensys to chop workforce by 20% — CEO outlines decentralization plans
How Ethereum could clear up scalability points
In an interview with Cointelegraph’s Andrew Fenton, Consensys CEO Joe Lubin mentioned potential options for Ethereum’s scalability.
Lubin stated the Ethereum ecosystem may revisit the outdated idea of execution sharding, probably utilizing a zkEVM at layer-1 to create equivalent execution shards:
“The fascinating factor about that, that manner of utilizing layer 1 wasn’t actually potential a number of years in the past after we discarded the concept of execution sharding, what we wanted to do was throw open this divergent exploration and numerous stuff got here again.”
Lubin added that there’s numerous learnings from the event of zero-knowledge approaches and optimistic approaches that may very well be introduced again right down to the Ethereum layer-1 to “make the whole lot higher.”
Lubin additionally believes this might result in scalability options for Ethereum: “You’re simply boiling down a large quantity of computation at totally different layers and amortizing numerous computation right into a single transaction. If you happen to do that each two seconds or much less, then you definitely get numerous transactions per second,” he defined.
Whereas Lubin is optimistic that these approaches may result in Ethereum reaching tens of millions of transactions per second, he acknowledged that full implementation may take a number of years.
Journal: We took an ETHSafari to see how crypto is figuring out in Africa
