An Ethereum researcher’s social media put up has sparked hypothesis over a possible resolution for the layer-1 blockchain’s scalability challenges.
On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “bold” initiative for Ethereum. Drake mentioned he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpret as a step towards fixing its scalability points.
Supply: Justin Drake
The researcher mentioned his purpose can be to recommend a technique to ship a Beacon Chain street map. He’s anticipated to share the proposal at Devcon in Bangkok, Thailand, on Nov. 12.
Neighborhood speculates about ETH 3.0
Following Drake’s put up, rumors about an ETH 3.0 improve circulated among the many Ethereum group. On X, Ambient Finance founder Doug Colkitt posted a few rumor circulating that the ETH 3.0 announcement is a “second merge into a brand new consensus focusing on 1-second block instances” and a local zero-knowledge Ethereum Digital Machine (zkEVM).
Supply: Doug Colkitt
Colkitt believes that if the rumors develop into correct, having a local zkEVM can be a “enormous” replace:
“The fuel restrict may be eradicated fully. Builders can construct arbitrarily massive blocks since nodes solely must confirm the snark. The one scaling restrict left can be bandwidth.”
Colkitt expressed optimism {that a} zkEVM might imply arbitrary scalability and eradicate the necessity for layer-2 rollups.
Not everybody in the neighborhood believes within the ETH 3.0 hypothesis. One group member thinks the rumor is “100% BS,” mentioning that important updates like this could have been signaled months upfront. The group member famous that associated Ethereum Enchancment Proposals would doubtless have been filed if such an replace had been imminent.
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How Ethereum could remedy scalability points
In an interview with Cointelegraph’s Andrew Fenton, Consensys CEO Joe Lubin mentioned potential options for Ethereum’s scalability.
Lubin mentioned the Ethereum ecosystem might revisit the outdated idea of execution sharding, doubtlessly utilizing a zkEVM at layer-1 to create an identical execution shards:
“The attention-grabbing factor about that, that approach of utilizing layer 1 wasn’t actually attainable a number of years in the past after we discarded the thought of execution sharding, what we wanted to do was throw open this divergent exploration and quite a lot of stuff got here again.”
Lubin added that there’s quite a lot of learnings from the event of zero-knowledge approaches and optimistic approaches that could possibly be introduced again right down to the Ethereum layer-1 to “make every thing higher.”
Lubin additionally believes this might result in scalability options for Ethereum: “You’re simply boiling down an enormous quantity of computation at totally different layers and amortizing quite a lot of computation right into a single transaction. Should you do that each two seconds or much less, then you definately get quite a lot of transactions per second,” he defined.
Whereas Lubin is optimistic that these approaches might result in Ethereum reaching hundreds of thousands of transactions per second, he acknowledged that full implementation might take a number of years.
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