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 “formidable” 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 counsel a method to ship a Beacon Chain highway 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 neighborhood. 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 occasions” and a local zero-knowledge Ethereum Digital Machine (zkEVM).
Supply: Doug Colkitt
Colkitt believes that if the rumors turn into correct, having a local zkEVM can be a “large” replace:
“The fuel restrict will be eradicated totally. Builders can construct arbitrarily giant blocks since nodes solely have to confirm the snark. The one scaling restrict left can be bandwidth.”
Colkitt expressed optimism {that a} zkEVM might imply arbitrary scalability and get rid of the necessity for layer-2 rollups.
Not everybody locally believes within the ETH 3.0 hypothesis. One neighborhood member thinks the rumor is “100% BS,” declaring that important updates like this could have been signaled months upfront. The neighborhood 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 clear up 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 previous idea of execution sharding, probably utilizing a zkEVM at layer-1 to create equivalent execution shards:
“The attention-grabbing factor about that, that manner of utilizing layer 1 wasn’t actually potential a number of years in the past once we discarded the concept of execution sharding, what we wanted to do was throw open this divergent exploration and plenty of stuff got here again.”
Lubin added that there’s plenty of learnings from the event of zero-knowledge approaches and optimistic approaches that may very well be introduced again all the way down to the Ethereum layer-1 to “make every part higher.”
Lubin additionally believes this might result in scalability options for Ethereum: “You’re simply boiling down an enormous quantity of computation at completely different layers and amortizing plenty of computation right into a single transaction. Should you do that each two seconds or much less, then you definately get plenty of transactions per second,” he defined.
Whereas Lubin is optimistic that these approaches might result in Ethereum attaining tens of millions of transactions per second, he acknowledged that full implementation might take a number of years.
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