Vitalik Buterin Wants Rollups To Reach Stage 1 Decentralization By Year-End

Ethereum co-founder Vitalik Buterin has proposed raising the bar as to what is considered a rollup within the Ethereum ecosystem, and suggested developers achieve a higher level of decentralization by the end of 2024 to avoid getting left behind.

“By the end of the year, I think our standards should increase and we should only treat a project as a rollup if it has actually reached at least stage 1,” he said in a Mar. 28 blog post. 

This is after Buterin said in November 2022 that any network that has made enough progress in improving its scalability and decentralization, but is not yet fully decentralized, has reached stage 1 status. Achieving full decentralization would upgrade the network to Stage 2. Vitalik Buterin Created Ethereum Following World of Warcraft Debacle

Vitalik Buterin Says Very Little Rollups Are Actually Decentralized

The call to make rollups less centralized by the end of this year follows an earlier observation by the Ethereum co-founder. He uncovered that there are only five Layer-2 projects that have reached either stage 1 or stage 2 decentralization, citing L2beat data. Meanwhile, only Arbitrum is fully EVM (Ethereum Virtual Machine) compatible, Buterin added.

With regards to Ethereum itself, scaling efforts have gone from a “zero-to-one” problem to an incremental problem, Vitalik wrote. Work towards scaling the Ethereum network will now focus on increasing blob capacity and improve inefficiencies within the application layer, he said in the post.

Developers Will Build The Necessary Foundation To Transition To Stage 2 

Next up on Ethereum’s development roadmap is the implementation of data availability sampling. This upgrade is aimed towards increasing blob capacity to 16MB per slot.  Developers will also explore ways to optimize Layer-2 solutions through techniques such as optimistic execution and data compression, while also looking into how they can improve the network’s overall security.

After these developments are complete, developers “can cautiously move toward stage 2: a world where rollups truly are backed by code, and a security council can only intervene if the code provably disagrees with itself,” Buterin added.

Related Articles:

  • What is a Crypto Presale? A Quick Guide to Getting in on the Ground Floor of New Cryptocurrencies!
  • Meme Coin Traders Jump on New SBF Meme Coins As FTX Founder Gets 25-Year Prison Sentence
  • Meme Ai Price Prediction: MEMEAI Surges 15%, But Analysts Say This 2.0 Meme Coin Might 100X Again

Comments

Post a Comment

Popular posts from this blog

STX Hits 52-Week High! Ascending Channel Points to Bullish Trajectory

Image
Stacks (STX) soars 8.74% in 24 hours, hitting a 52-week high at $2.06, riding the crypto wave. STX’s rise is attributed to Bitcoin optimism and its role as a layer 2 solution. Technical analysis points to a bullish trend, aiming for $2.6, but watch out for potential corrections at $1.6. Stacks (STX) has continued its upward trajectory, with its price recently reaching a 52-week high of $2.06, marking an 8.74% increase in just 24 hours. This surge is part of a broader trend that has seen the cryptocurrency gain 749% over the past year. Market analysts attribute this impressive performance partly to the growing optimism surrounding the potential approval of a spot Bitcoin ETF, which could further galvanize the cryptocurrency sector. STX/USD 24-hour price chart (source: CoinStats ) During the bull rally, STX’s market capitalization and 24-hour trading volume surged 9.45% and 24.95%, to $2,852,664,529 and $715,025,179, respectively.  Stacks as a Bitc
Read more

XAI tanks by 20% after airdrop and Binance listing

Image
The layer-3 gaming token fell by more than 20% after an airdrop and Binance listing on Jan. 9. According to CoinGecko, the layer-3 gaming token Xai has fallen by more than 22% in 24 hour trading. The current price of the token is $0.5231. X rate fell sharply just a day after reaching an all-time high on Jan. 9, in which the price of the coin was $0.7734. Source: CoinGecko The token price collapse occurred shortly after Xai held its first major gaming token airdrop in 2024. According to the Xai Foundation, it offered 125 million XAI tokens (or 5% of the total token supply) to eligible users, including holders of certain Xai NFTs and those operating gatekeeper nodes or validators that help support the network. Dear Xai Community, As we approach the XAI token claim, it's crucial to stay vigilant against potential scams. Please carefully read and follow these guidelines: Official Contract CLAIM Address: The ONLY legitimate $XAI airdrop claim contract address is… — XAI (@X
Read more

Bitcoin Price Prediction: MicroStrategy Boosts BTC Ownership To 1% Of Supply As This Eco-Friendly Alternative Soars Towards $7 Million

Image
The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto. During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement . Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins. The Bitcoin Price Bounces Off Of A Key Support 4-hour chart for BTC/USDT (Source: TradingView ) The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, the crypto may try to fli
Read more