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Vitalik Buterin Urges Shift Towards L2 Development after Successful Dencun Hard Fork

Algoine News
Summary:
Ethereum co-founder, Vitalik Buterin, encourages a shift towards developing layer-2 (L2) decentralized applications following the successful Dencun hard fork. Promoting an "Ethereum 2.0" mindset, Buterin suggests leveraging modern tools and protocols, like L2 rollups for increased privacy, security, and performance. He anticipates Ethereum's base layer moving from rapid change to a period focused on maintenance as he believes the significant changes are already behind.
Vitalik Buterin, co-founder of Ethereum, is urging a shift in approach towards developing layer-2 (L2) decentralized applications and remedies, as a result of the smooth execution of the Dencun hard fork. Buterin, who spoke at the ETH Global’s Pragma London on March 14, recognized the success of the network upgrade, which makes L2 rollups more scalable by lowering the costs tied to submitting cryptographic proofs to Ethereum’s foundational layer. Buterin told the assembled crowd at Christ Church Spitalfields venue, "We've achieved basic rollup scaling, but we should anticipate further incremental improvements from here." The event, which attracted over 500 participants and a hackathon, saw Buterin's presence adding significant interest to the day's line-up of speakers. Given the flawless implementation of Dencun on the mainnet, the audience was eager to know about future developments from Ethereum's key co-founder. Buterin reviewed the Ethereum roadmap he had proposed, following its smooth shift to a proof-of-stake consensus in the wake of The Merge in 2022. He remarked the accomplishment of several key engineering objectives set out in the roadmap, some of which were realized with the finalization of Dencun. Dencun brought in the Ethereum improvement proposal (EIP-4844), modifying how Ethereum rollups archive data on the mainnet. Several layer-2 rollups collect and process transactions off-chain, forwarding a summary proof of these transactions to the Ethereum blockchain. This new addition allows for a cheaper way for rollups to include data in blocks by replacing call data storage with blob space. The historical approach of using call data to store off-chain bundled transaction cryptographic proofs carried significant costs, as all Ethereum nodes needed to process the on-chain data indefinitely. The proposed change, named Proto-danksharding, allows rollups to dispatch and append data blobs to blocks, which aren't accessible to the Ethereum Virtual Machine and are automatically deleted after 18 days. Buterin stressed that the Ethereum ecosystem should redirect its focus for a more substantial impact on the internet and traditional finance, given Ethereum's continuous evolution over the last ten years. Buterin perceives the first ten years of Ethereum as insular, concentrating on its internal development, and wants the second decade to be about the platform making substantial global impacts. The Dencun hard fork is a part of this broader mission, pushing Ethereum away from a layer 1-centric focus. Buterin anticipates Ethereum's base layer shifting from acceleration to maintenance mode. "The most significant changes are already behind us, which is exhilarating," he claimed. Buterin believes future development will include an L2-centric approach, centered around application developers, whilst L1 changes will remain part of the ecosystem. He voiced that Ethereum has provided ample tools for DApps development with zero-knowledge proofs being a prime example. He is encouraging developers to embrace an "Ethereum 2.0" mindset, leveraging modern tools and protocols, like L2 rollups for increased privacy, security, and performance.

Published At

3/15/2024 12:36:53 PM

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