In his latest blog post, Vitalik Buterin exposed 3 areas of improvement that Ethereum (ETH) should imperatively pass through to achieve mainstream adoption. If these ideas are still only at the stage of reflection, they could lay the foundations for the future face of the famous blockchain.
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Vitalik Buterin exposes 3 transitions necessary for the future of Ethereum
If there is one thing that Vitalik Buterin understood well, it is that Ethereum (ETH) will still have to go through many developments to become a global universal machine. In this way, the founder of the famous blockchain has identified 3 points, for which work must be carried out, at the risk of seeing the network fail in its mission, to the benefit of centralized players.
These 3 areas for improvement are as follows:
The scaling of layers 2; The adoption of smart contract wallets; Private life.
The first condition unsurprisingly follows the cost of transaction fees on the main layer of Ethereum. Without mature layers 2 to overcome this, users will turn to centralized solutions. The same is true with current wallet technology. Their creation remains complex for someone outside the ecosystem, and without, among other things, sufficiently comfortable account abstraction solutions, it will again be centralized models that will prevail.
The same conclusion is made with regard to privacy. While the blockchain is a predominantly public environment, this may also raise privacy issues with regard to users who can legitimately expect that no one will be able to know their assets.
👉 To go further — Find our guide to staking on Ethereum
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Issues and food for thought
In parallel with the improvements that are to be carried out, Vitalik Buterin also explains the problems that these solutions will face.
For example, with the emergence of 2 layers, we can easily imagine a variety of solutions not necessarily choosing all the same scaling technologies. But then, a user could quickly be lost if he had to take care to feed his addresses on all these blockchains to use these different services.
As solutions, the founder of Ethereum proposes that each of its recipients be able to receive the funds of its users on any network to sort them automatically then, or that some sort of inter-L2 bridges be developed so as to automatically route the funds.
In addition, with the development of privacy solutions such as stealth addresses or the emergence of account abstraction solutions that can make it difficult to assign the same address from one network to another, Ethereum Name Service (ENS ) may have a role to play.
Indeed, Vitalik Buterin imagines that such a technology could one day encompass all these elements, so as to create an identity compatible with the entire Ethereum ecosystem. However, it also has limitations, like the ENS charges on layer 1, or the fact that if you change a setting, it shouldn’t involve updating everything related to it.
At this point, this is all still in the thinking and prototyping stage, but these considerations will lay the groundwork for the future of Ethereum, with a view to mass adoption.
👉 On the same subject — Vitalik Buterin warns of the dangers of overloading the Ethereum consensus
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Source: Vitalik Buterin
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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