Vitalik Buterin, co-founder of Ethereum, has shared his vision for the future of the Ethereum network, pointing out several key areas that need to be addressed to ensure its success in the coming years. His insights point to the importance of scaling, improving security, and enhancing interoperability, especially as Ethereum continues to evolve in a world where Layer 2 (L2) solutions play an increasingly dominant role.
Vitalik stressed the need for the Ethereum Layer 1 (L1) network to accelerate its scaling efforts. Ethereum Layer 1 (L1) has faced challenges, primarily scalability over the years. As more users and applications have joined the network, congestion has led to high transaction fees and slower processing times.
This has affected its ability to scale efficiently, especially when compared to newer blockchains. While Ethereum developers have worked on solutions like layer 2 scaling solutions and sharding, L1’s limitations have led to the growing adoption of other blockchains such as Base and Solana that offer faster and cheaper transactions.
According to Vitalik, L1 is crucial for handling the heavy traffic Ethereum faces, and this includes scaling the Ethereum Virtual Machine (EVM) and increasing its gas limit. These changes are necessary even in a world where L2 solutions take much of the load.
Vitalik stated that L1 will continue to handle critical tasks, such as proofs, large-scale decentralized finance (DeFi) activities, deposits, withdrawals, and ensuring that Ethereum can respond to sudden demand spikes or “mass exit scenarios.”
Handling blobs on Ethereum
Vitalik thinks the entire ETH community should be more open to setting aside features that aren’t blobs. In Ethereum (ETH), a “blob” refers to a type of data structure used to store large amounts of data that are not directly related to the execution of smart contracts. The concept is part of Ethereum’s efforts to scale the network efficiently, especially with the introduction of Ethereum’s upgrades, like sharding.
Blobs are designed to hold large amounts of data that can be used by Ethereum’s layer-2 scaling solutions or during the execution of transactions without bogging down the main chain. The idea is to store this data in a way that doesn’t interfere with the blockchain’s primary function but still allows for the network to handle more data and transactions overall.
Vitalik emphasized that blobs are a primary focus, aiming to attract the right talent for peer-to-peer research and development. Stakers should be able to adjust the blob target directly, similar to how the gas limit functions. This approach would allow the blob target to grow more rapidly as technology advances, eliminating the need for a hard fork.
“We can consider more radical approaches that get us more blobs faster with more trust assumptions for lower-resourced stakers, though we should be careful about this,” he said.
Improvement in security
Layer 2 solutions must improve their security measures, according to Vitalik. As Ethereum moves towards sharding, he urged L2s to provide security guarantees similar to those of the main network. These guarantees include censorship resistance, light client verifiability, and the removal of trusted third parties. These features play a crucial role in preserving Ethereum’s decentralized nature and building user trust as the network grows.
Elaborating on this, he explained that one approach involves using multiple proof systems and formal verification. Developers can use different proof systems to improve safety and apply formal verification to secure the system through thorough checks. Teams can also make this process more efficient by collaborating on software to minimize duplicate efforts and improve compatibility among systems.
The second approach focuses on native rollups, where developers integrate verification directly into the Ethereum protocol. He acknowledged that native rollups remain in the early stages and require more work, especially to enhance their flexibility. The aim is to enable different versions of the Ethereum Virtual Machine (EVM) to work seamlessly with native rollups, even when adjusted, allowing Layer 2 solutions to adapt the system to their unique requirements.
Dealing with interoperability and the economic model of ETH
Vitalik envisions Ethereum users engaging with a cohesive ecosystem instead of navigating through 34 distinct blockchains, stressing the importance of improving interoperability among Ethereum’s various layers.
To achieve this, he thinks L2 solutions, wallets, and Ethereum’s broader infrastructure must collaborate to improve and standardize interoperability. Developers need to address areas like chain-specific addresses, message-passing, and cross-chain payments to streamline how users interact with the network.
In addition to interoperability, Vitalik emphasized the need for major improvements in the deposit and withdrawal times for L2 solutions.
The Ethereum cofounder also advocated for diversity among Layer 2 solutions. He suggested that while some L2s could replicate the functionality of the L1 EVM, others should explore different virtual machines or even act as “servers” that use Ethereum for added security. He described this diversity as a strength, as it ensures that the ecosystem offers solutions for a wide range of use cases.
Read also: Vitalik Buterin criticizes the exploitation of tokens as tools for boundless political bribery and manipulation.
Vitalik urged the community to carefully evaluate Ethereum’s economic model. As L2 solutions become more widespread, developers and stakeholders must ensure that ETH retains its value. They may need to create new models for value accrual to keep Ethereum’s native token central in an L2-focused world.
“Ethereum has matured as a technology stack and a social ecosystem, bringing us closer to a more free and open future where hundreds of millions of people can benefit from crypto assets and decentralized applications,” he said. “However, there is a lot of work to do, and now is the time to double down.”
He calls on the entire community involved in the Ethereum ecosystem to take action. L2 developers should build better tools to scale blobs safely, improve the code to make Ethereum’s execution faster, and develop new features and standards to enhance L2 compatibility.
Wallet creators should establish standards that simplify the system for users while preserving Ethereum’s security and decentralization, as it was in the Layer 1 (L1) era. ETH holders and community members must actively participate in these discussions, as many aspects still require thoughtful solutions and fresh ideas.
Concerns on how Ethereum Foundation operates
This roadmap comes at a time when people in the Ethereum community have raised concerns about how the Ethereum Foundation (EF) has sold ETH from its treasury over the years. Vitalik has defended this decision several times.
Supporting his submissions, Vitalik explained that the Ethereum Foundation needed to sell ETH to cover its operational costs. Vitalik also mentioned that staking ETH isn’t a good option because of the regulatory challenges surrounding ETH.
However, the actions of the cofounder and the Ethereum Foundation’s leadership have caused some friction within the community. This friction prompted a well-known Ethereum developer, Eric Conner, to leave the Ethereum community.
Eric publicly announced on social media that he was leaving the Ethereum community. Eric explained that his decision stemmed from issues like the foundation’s lack of transparency, disconnection from the community, and resistance to change.
Concerns about Ethereum’s future persist, yet the chain still enjoys strong community support.
