Ethereum Co-Founder Vitalik Bullish on Rollups in 2023


Bullish on roll-ups in 2023

Ethereum co-founder Vitalik Buterin has predicted that the rollup L2 scaling solution will reach an important milestone in 2023.

The next stage of the roadmap, “Surge,” is on track to reach “Basic rollup Scaling,” he said. The point is that one of the Surge-related implementation items “EIP-4844” was suggested to be implemented at some point in 2023.

Source: vitalik.eth

EIP-4844 introduces transactions (blob transactions) that reduce the amount of data written from the layer (L2) to the main chain (L1). The cost of writing to L1 is also lower, resulting in further reductions in L2 transaction fees.

association:Ethereum to implement “EIP-4844” to reduce L2 fees up to 100 times

What is Layer 2 (L2)

A “second layer” blockchain. Writing all transaction histories to the main chain increases the load, slowing down processing speeds and increasing network fees. Therefore, low cost, low latency, and high throughput are achieved by processing transaction calculation processing off-chain and recording proof information that indicates the state on the main chain.

▶Cryptocurrency Glossary

association:The presence of Ethereum with Layer2 makes the future story even more spectacular

Buterin also expects many of the rollup projects to move out of their immature stage and become more decentralized in 2023.

In the Rollup Milestones he wrote last November, the current state of “Stage 0 (full training wheels)” has fewer requirements, and many projects start early and ” It is a situation where you can call yourself a rollup.

Various projects such as Optimism, Arbitrum, Starknet, and Polygon zkEVM are developing L2 scaling solutions for Ethereum.

association:Polygon Launches Final Testnet for L2 ‘Polygon zkEVM’

On the other hand, in “stage 1 (limited training wheels)”, instead of relying entirely on proofs of fraud or zero-knowledge proofs, a multisig mechanism manages the coping process when there are bugs in the data or code. to implement. For users, this will reduce the level of trust in the rollup development company and increase the safety of L2 usage.

What is the next phase “Surge”?

Ethereum implemented the long-awaited upgrade “Merge” in September 2022, making the transition to PoS (Proof of Stake). In response to this, a revised roadmap for the Ethereum blockchain was released in November 2011.

Previously, Surge was intended to alleviate congestion on the mainnet by adding 64 shardchains, but the latest version has no mention of sharding, and 100,000 will be distributed around rollups and ZK-EVMs. It changed to a form aiming to achieve TPS or more (currently about 15 TPS).

Rollup and ZK-EVM

Rollups that are expected to solve the scalability problem of Ethereum can be classified into two types: optimistic rollups and zk rollups that utilize zero-knowledge proofs. Two representative examples of ORs are “Optimism” and “Arbitrum”. ZK-EVMs include “zkSync”, “Polygon Hermez” and “StarkNet”.

▶Cryptocurrency Glossary

association:Vitalik Updates Ethereum Roadmap

Next Upgrade Shanghai

It is also important that around March 2023, the first upgrade after the merge, “Shanghai,” which will focus on the withdrawal function of staking ETH, will be released.

In Shanghai, 15.6 million ETH (equivalent to about 2.6 trillion yen: at the time of writing) locked up in the Ethereum staking contract and staking rewards will be available for withdrawal. While there are concerns about selling pressure, many experts predict that it will lead to an increase in the number of new staking participants.

association:Will the implementation of the staking withdrawal feature put a selling pressure on Ethereum?

The post Ethereum Co-Founder Vitalik Bullish on Rollups in 2023 appeared first on Our Bitcoin News.


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