Ethereum co-founder Vitalik Buterin argues in a new blog post for a radical simplification of the architecture of the network. His goal: to make Ethereum just as easy as Bitcoin within five years, without compromising on safety or functionality.
Simplicity as a key to scalability
In his blog post “Simplifying the L1”, published on 3 May, Buterin describes how a simplified Ethereum makes the network more robust against bugs, lowers development costs and increases safety. He points to the minimalist structure of Bitcoin as a source of inspiration:
“One of Bitcoin’s best things is how simple it is. This simplicity has many advantages. Let’s bring those benefits to Ethereum.”
Although earlier upgrades such as proof-of-stake and ZK-Snarks have made Ethereum more powerful, Buterin warns that the increasing technical complexity leads to longer development processes and a greater chance of errors. According to him, simplification is necessary to make Ethereum future -proof.
What does Butterin want to change?
Buterin makes a number of concrete proposals to make Ethereum simpler. This way he wants to make it easier to determine which transactions are valid (the consensus). For this he introduces a new method, called “3-slot final”, which should make the system easier and safer.
In addition, he wants to say goodbye to the Ethereum Virtual Machine (EVM) in the long term, which is currently being used to perform smart contracts. Instead, he proposes to switch to RISC-V, a simpler system that works better with emerging technologies such as zero-knowledge proofs. For the time being, both systems will continue to run side by side, so that existing applications will continue to function.
He also argues for uniform standards within the Ethereum network. At the moment there are many different ways to store and process data, which makes it difficult to manage. With clear, universal rules, the network must be easier to maintain.
Ethereum is under pressure
The timing of Buterins call is striking. Ethereum lately loses ground to faster and cheaper competitors such as Solana (SOL). During the longitude event on 2 May, Nansen-CEO Alex Svanevik even admitted that Ethereum has lost its dominant position in the cryptomarkt.
Although ETH is still the biggest crypto asset after Bitcoin, network activity is declining. The question is therefore whether Buterins reform plans are sufficient to turn the tide.
Source: https://newsbit.nl/vitalik-buterin-wil-ethereum-simpeler-maken-net-zo-eenvoudig-als-bitcoin/
