- An ETH enthusiast explains Vitalik Buterin’s insights on Ethereum’s future.
- He walks readers through Ethereum’s protocols pros, cons, and vital considerations.
- Buterin sees Ethereum on an evolving path where it will adapt to meet future changes.
Vitalik Buterin, the co-founder of Ethereum, recently published a substantial blog post outlining the future of the Ethereum blockchain. An ETH enthusiast makes a detailed post breaking down the key takeaways from his insights.
To start off, he talks about Ethereum’s past. Historically, Ethereum has followed a strategy of keeping its core functions as simple as possible while building additional functionalities externally or on top of the blockchain.
In his post, Vitalik Buterin raises a significant question. Specifically, he asks if Ethereum should integrate more features directly into its protocol. In particular, this would include concepts like account abstraction, zk-EVMs (Zero-Knowledge Ethereum Virtual Machines), and liquid staking.
The post says to answer this question, one mustconsider the pros and cons of enshrining such features. Therefore, Buterin offers five key insights into the enshrining of features within the Ethereum protocol.
Vitalik’s Key Insights
Firstly, he talks about philosophy and context matter. In detail, he says that Ethereum is not just a personal computing platform; it’s a social system. This distinction necessitates different considerations for enshrining features.
In addition, Vitalik highlights lessons from previous attempts at enshrining features. For instance, he mentions the potential to counteract centralization but also the risks of compromising trust, governance, and introducing complexity.
Going forth, he says rather than fully enshrining all functionalities, it may be wiser to enshrine essential components that address core challenges. For example, modifying staking rules for trustless liquid staking.
Thus, for de-enshrinement, some features may benefit from removal or simplification, such as precompiles designed to optimize contracts and reduce gas fees. Lastly, he mentions evolving tradeoffs.
He says decisions about what to enshrine in the protocol versus what to delegate to other layers of the Ethereum ecosystem are complex and must adapt as user needs and technologies evolve.
Vitalik’s insights shed light on the ongoing debate within the Ethereum community regarding the direction and evolution of the blockchain. No doubt, as Ethereum continues to grow and innovate, these considerations will play a crucial role in shaping its future.
