Vitalik outlines a strategy to scale Ethereum and strengthen ETH.
Ethereum founder Vitalik Buterin outlined a multi-pronged strategy to scale the Ethereum ecosystem by fostering growth in Layer-2 (L2) solutions, advancing blob scaling, and strengthening its role as the main economic driver of the Ethereum ecosystem.
In a blog post, Buterin proposed that Ether (ETH) be cemented “as the main asset of the large (L1 + L2) Ethereum economy”, and that L2 networks should be encouraged to support ETH with a percentage of payments. They also called for a technical upgrade to increase the blob count which would increase the transaction potential.
While L2 networks have made significant strides in improving transaction fees and scalability, Buterin has supported the rapid adoption of these solutions and greater interoperability between L2s.
The sustainability of the future of Ethereum depends on this approach, which includes the development of the ecosystem, technical level improvements and the role of ETH as the main economic driver.
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L2 development for scalability
L2 networks operate on top of Ethereum's main Layer-1 blockchain and have greatly influenced user transaction fees and input rates.
Despite their success, Buterin emphasized the need for more adoption and interoperability between L2s, suggesting that apps and wallets should further unify the ecosystem.
The Ethereum founder added that current L2 networks are “far from” the experiments of 2019, but support standardized cross-chain messaging and faster deposit and withdrawal times.
“Using Ethereum should feel like using one ecosystem, not 34 different blockchains,” he said. “We need to think clearly about the economics of ETH.”
“We need to ensure that ETH continues to accumulate value even in an L2-heavy world.
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Blob scale for more transaction capacity
As part of its strategy to integrate the Ethereum ecosystem, Buterin said the network should consider “more radical approaches” that allow non-blotted features out of beta and get more blobs faster.
Blobs is a tool that allows Ethereum to conduct large amounts of transactions at low cost without sacrificing the decentralization or security of the network, allowing it to scale beyond its normal capabilities.
Buterin “With EIP-4844, now 3 blobs per slot or data bandwidth per 384 KB.” We have “With Pectra, scheduled for release in March, we plan to double this to 6 blobs per slot.” Buterin added:
“When we get to 2D sampling, we can reach 128 blobs per spell and even more. With this and improvements to data compression, we can reach 100,000 RPS onchain.”
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Risks of decentralization without resources
Buterin emphasized the importance of continuing to build Ethereum's technical and social assets and facilities. He warned that the lack of consumption would create a “diesel” society “but in no position to offer a better alternative”.
Conversely, he cautioned against sacrificing Ethereum's fundamentals for utility, likening it to “the greed of Wall Street—the idealism most of us came here to escape.”
Despite his push to improve and collaborate on the Ethereum network, Buterin recently announced that he will only oversee the leadership of the Ethereum Foundation (EF).
Buterin said that the decision to decide who will lead the EF is up to him until reforms are made to create a “correct board” in the foundation.
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