CryptoVitalik calls for 10X scaling to reinforce Ethereum’s L1...

Vitalik calls for 10X scaling to reinforce Ethereum’s L1 dominance in an L2-heavy world

-


Key Takeaways

  • Vitalik Buterin proposes a 10X increase in Ethereum’s L1 gas limit.
  • A scaled L1 enhances security, facilitates L2 operations, and enables smooth asset transfers.

Share this article

Ethereum co-founder Vitalik Buterin advocates for a tenfold increase in the network’s L1 gas limit, emphasizing its importance even as L2 solutions gain prominence.

The proposal aims to enhance security and censorship resistance while enabling simpler application development on the network.

Buterin highlights concerns about potential censorship on L2s due to their centralized sequencers, arguing that a more scalable L1 would provide crucial force-inclusion mechanisms for users to bypass L2 censorship during network congestion.

A key focus of the scaling proposal addresses cross-L2 asset transfers, particularly for NFTs and less common assets.

The enhanced L1 capacity would serve as a safety mechanism for users in cases of L2 failure or hostile governance changes, allowing for mass exit events without prohibitive gas fees.

The scaling initiative also targets improved efficiency for ERC20 token launches on L1, which could mitigate risks associated with hostile governance upgrades on individual L2s.

Additionally, the proposal aims to simplify keystore wallet operations and facilitate their distribution across L2 networks.

Buterin’s plan encompasses the economic viability of L2 proof submissions, suggesting that increased L1 capacity could make trustless cross-L2 interoperability more sustainable through frequent state updates.

The technical implementation faces challenges in maintaining security and decentralization while achieving the proposed scaling targets.

The proposal has sparked discussions within the Ethereum community about potential centralization risks due to increased hardware requirements for validators.

In May 2024, Vitalik Buterin pointed out the lack of unity in the Ethereum ecosystem’s Layer 2 expansion, advocating for better interoperability and integration in wallet interfaces.

Share this article





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Binance memecoin platform Four Meme exploited again — this time for $130K

Four Meme suspended its launch function and conducted an emergency probe after suffering an “attack” today. Source link

How to Protect Your Cats (and Backyard Chickens) From Bird Flu

For cats who enjoy spending time outside, Feah says that leashed walks are a good option. She also...

Bank of Korea | No Plans for a Bitcoin Reserve

The Bank of Korea (BoK) has ruled out the possibility of including bitcoin in its foreign exchange reserves....

Vitalik Buterin Sells 5K DHN Tokens for $124K, Triggering 50% Price Drop

Vitalik Buterin sold 5,000 Dohrnii (DHN) tokens, which he had received for free from Dohrnii Labs, for $124,000,...

Advertisement

Peer Raises $10.5M to Expand AI-Powered Metaverse Engine

Peer Global Inc. has raised $10.5 million in a new funding round, increasing its total investment to $65.5...

‘AI’ crypto trading agent, aixbt, hacked for $100K

Purported artificial intelligence cryptocurrency trading agent, aixbt, has been hacked for 55.5 ETH, worth approximately $100K. Source link

Must read

Binance memecoin platform Four Meme exploited again — this time for $130K

Four Meme suspended its launch function and conducted...

How to Protect Your Cats (and Backyard Chickens) From Bird Flu

For cats who enjoy spending time outside, Feah...

You might also likeRELATED
Recommended to you