Ethereum

Until Ethereum Reaches Full Maturity, It Needs To Go Through This Transition

06/10/2023
Bitcoin Ethereum News

Table of contents

  1. Ethereum’s Vitalik says improvements to blockchain security will help ensure success
  2. ZK-SNARKs can help verify Ethereum blockchain proofs without sacrificing gas
Vitalik Buterin, the co-founder of Ethereum [ETH], the Ethereum network needs to go through three key advances. Also, its requirements to occur before the undertaking can turn out to be ‘globally permissionless’ to the typical client. Vitalik, who shared the data through his own blog, noticed that the three stages incorporate the L2 scaling arrangement, the wallet, and protection advances. These advances structure part of Ethereum’s long haul guide. Additionally, it aims to address issues related to sustainability, security, and scalability.

Ethereum’s Vitalik says improvements to blockchain security will help ensure success

The founder of Ethereum is of the opinion that these actions are crucial for the ecosystem’s continued success. Alluding to the job of L2s including hopeful and Zero-Information (ZK) rollups, Vitalik noted. As for wallet security, he brought up that it could settle the distress that accompanies arranging resources on trades. For the third, he suggested that user data security was necessary to some extent. 

Even though Vitalik acknowledges that initiatives such as Optimism [OP], zkSync, and Arbitrum [ARB] have assisted the initial phase, he pointed out that further efforts in this direction will enhance the interaction between addresses and users. He went on to add that each of the three phases must work together. Also, it would need the support of ZK-SNARKs and Merkle branches to carry out these changes.

ZK-SNARKs can help verify Ethereum blockchain proofs without sacrificing gas

Merkle branches are basic bits of cryptographic hash used to get and check countless exchanges. Vitalik might be able to save money on gas by using branches instead of proof lengths. In contrast, ZK-SNARKs, which stands for Zero-Knowledge Succinct Non-interactive Argument of Knowledge, aids in the construction of proofs between two parties without disclosing any of the interaction’s secrets. Vitalik mentioned that it could help verify all cross-chain proofs within a block in relation to this. In the meantime, the publication, which also included contributions from Karl Floersch, Dan Finlay, and David Hiffman, noted that the Ethereum blockchain’s secondary infrastructure requires a lot of updating. In any case, he noticed that the ENS group was currently taking care of this issue by consolidating the ERC-3368 CCIP standard and the L2 organizations.

Source: https://www.cryptoknowmics.com/news/until-ethereum-reaches-full-maturity-it-needs-to-go-through-this-transition