Vitalik Buterin says Ethereum is entering a new phase.
Ethereum is moving into a mature phase of development with a focus on stable and scalable solutions that enable a wide range of applications, Ethereum co-creator Vitalik Buterin said in a recent blog post. In other words, Buterin wants his Layer-1 (L1) blockchain to fully address scalability issues and be a robust technology layer for the user and application layers.
So it looks like Ethereum is preparing for a post-Denkun future of balanced usage.
According to Buterin, the latest Denkun hard fork is proto-danksharding, also known as EIP-4844 or “blobs”, which has significantly reduced transaction fees for wrappers. With Blobs, Ethereum's scaling focus has shifted from building the original solution to continuous improvement.
“Blobs is the time when scaling Ethereum ceases to be a “zero-to-one” problem and becomes a “one-to-n” problem. From here on, important processing operations will continue to be done to increase the number of blobs and improve the ability of rolls to use each blob efficiently, but it will only get bigger. ” wrote Buterin.
Mr. B is optimistic.
As noted by Buterin, Ethereum's future improvements will target increased blob capacity and Layer-2 (L2) efficiency. To achieve these goals, Buterin proposed the implementation of Data Availability Sampling (DAS).
DAS has been in the headlines over the past few months, alongside the trend towards modular blockchains. Buterin says DAS integration will help verify large amounts of packet data off-chain. It also introduced PeerDAS, a simplified version of DAS, as a first step.
In addition to data availability sampling, Buterin identified four key development areas for L2 protocols, including data compression, optimistic data techniques, internal L2 scaling, and improved security. For intelligent data techniques, he suggests looking for solutions such as plasma, where L2 protocols return data to L1 chains under special circumstances. According to Buterin, this improves elasticity.
The founder of Ethereum urged developers to adapt to the new thinking of Ethereum and break away from the limitations of the previous era. He advocated a focus on user privacy with zero-knowledge proofs (zk-proofs), while maintaining transparency, in addition, accepting accounting summaries for wallets, as well as new governance solutions to strengthen Web3.
A legal roadblock?
Buterin's latest insights come amid an ongoing legal investigation into Ethereum's native coin, Ether (ETH).
A recent Fortune report claims that the US Securities and Exchange Commission (SEC) has launched a campaign to declassify Ether.
According to sources familiar with the matter, several companies in the US have received subpoenas from the SEC requesting all documents and financial records related to transactions between the companies and the Ethereum Foundation, an organization dedicated to supporting the development of Ethereum and its community. .
Meanwhile, at the end of February of this year, the Ethereum Foundation, which was updated on GitHub, is under investigation by an “unspecified authority”, which many believe is the SEC. Still no confirmation from the security agency.
In a major update since the merger that saw Ethereum move from a proof-of-work to a settlement agreement, SEC Chairman Gary Gensler said all Ethereum transactions are subject to US jurisdiction and consider ETH staking as a security investment contract.
According to sources close to the matter, the alleged action from the SEC is part of the review process for the documents of the Ethereum exchange-traded fund (ETF). However, analysts are cautious about the chances of approval before the May deadline.
However, not everyone sees the SEC's involvement as a negative development. Some argue that it is standard practice for government agencies to investigate new financial technologies. They believe that the situation may be too much.
In a recent interview with Fox Business, BlackRock CEO Larry Fink said that even if the SEC declares the security of Ethereum, there is still a chance that an Ethereum ETF will be approved.
