An Ethereum researcher’s social media publish sparked hypothesis a couple of potential resolution for the layer-1 blockchain’s scalability challenges.
On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “formidable” initiative for Ethereum. Drake mentioned he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpreted as a step towards fixing its scalability points.
Supply: Justin Drake
The researcher mentioned his objective was 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.
Group speculates about ETH 3.0
Following Drake’s publish, rumors about an ETH 3.0 improve circulated among the many Ethereum neighborhood. On X, Ambient Finance founder Doug Colkitt posted a couple of rumor that the ETH 3.0 announcement is a “second merge into a brand new consensus concentrating on 1-second block instances” and a local zero-knowledge Ethereum Digital Machine (zkEVM).
Supply: Doug Colkitt
Colkitt mentioned that if the rumors end up to be correct, having a local zkEVM could be a “big” replace:
“The fuel restrict might be eradicated completely. Builders can construct arbitrarily massive blocks since nodes solely want to confirm the snark. The one scaling restrict left could be bandwidth.”
Colkitt expressed optimism {that a} zkEVM may imply arbitrary scalability and get rid of the necessity for layer-2 rollups.
Not everybody in the neighborhood was on board with the ETH 3.0 hypothesis. One neighborhood member said the rumor was “100% BS,” mentioning that such vital updates would have been signaled months prematurely. The neighborhood member famous that associated Ethereum Enchancment Proposals would seemingly have been filed if such an replace have been imminent.
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How Ethereum may resolve 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Lubin mentioned the Ethereum ecosystem might revisit the outdated idea of execution sharding, probably utilizing a zkEVM at layer 1 to create an identical execution shards: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 potential just a few years in the past once we discarded the thought of execution sharding, what we wanted to do was throw open this divergent exploration and rather a lot of stuff got here again.”
Lubin added that there’s rather a lot of studying from the event of zero-knowledge approaches and optimistic approaches that might be introduced again to the Ethereum layer 1 to “make all the pieces higher.”
Lubin additionally mentioned this might lead to scalability options for Ethereum: “You’re simply boiling down an enormous quantity of computation at completely different layers and amortizing rather a lot of computation right into a single transaction. If you happen to do that each two seconds or much less, you then get rather a lot of transactions per second.”
Whereas Lubin was optimistic that these approaches may lead to Ethereum attaining millions of transactions per second, he acknowledged that full implementation might take a number of years.
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