Ethereum co-founder Vitalik Buterin stated 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 expertise right into a mature tech stack.”
Buterin added that these transitions have to be executed “roughly concurrently” to make sure success and if any of them fall quick, then the community will possible fail because of sure basic points that may come up as a consequence.
He made the assertion in a June 9 weblog submit that exposed a brand new roadmap for the Layer-1 blockchain community, the place he additionally mentioned the vital points plaguing Ethereum’s future that should be addressed.
Buterin stated:
“It’s not simply options of the protocol that want to enhance; in some circumstances, the way in which that we work together with Ethereum wants to alter fairly basically, requiring deep adjustments from purposes and wallets.”
Layer-2 scaling
In line with Buterin, Layer-2 rollups resolve a vital challenge plaguing the Ethereum community — excessive fuel charges. If customers don’t undertake rollups en masse, then fuel 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 — fuel charges for Ethereum transactions are normally round $3. Buterin believes that is unsustainable and Layer-2 adoption is the one strategy to resolve it.
Failure to take action will in the end end in customers turning to “centralized workarounds” that shall be extra intuitive and cheaper to make use of.
Pockets safety
Buterin believes that crypto wallets are less than par at present in terms of consumer expertise and safety, which is a vital challenge for the expansion of the community.
In line with Buterin, if pockets safety is just not improved, then customers won’t ever really feel comfy with the self-custody of property and can want to show to centralized choices like exchanges.
He additionally stated that the interoperability of wallets and networks is necessary because it allows a extra seamless expertise for customers in terms of utilizing cryptocurrency in day-to-day transactions like shopping for groceries.
Buterin stated:
“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 strategy to resolve this conundrum. Such a pockets would assist the overwhelming majority of Layer-2 networks and would have the ability to consolidate funds asynchronously.
An alternative choice could be to develop cross-L2 bridging system so senders’ wallets are capable of routinely ship funds to the precise vacation spot.
Privateness
One other key challenge that threatens Ethereum’s success in changing into the go-to community for the typical consumer is the shortage of privateness in terms of particular person transactions.
Buterin believes that individuals would detest utilizing crypto of their day by day lives if there’s a public report of their transactions that’s simply traceable to them.
He made a number of recommendations round utilizing stealth addresses however admitted that points round privateness stay a serious drawback with no straightforward answer in sight.