Vitalik Buterin has published a long blog post about the future of the Ethereum network. It recently offered a three-step migration plan to maximize the success of its ETH network.
Vitalik Buterin publishes new base text on the future of Ethereum
Vitalik Buterin, one of the co-founders of Ethereum, recently wrote a technical article on improving Layer 1 and 2 interoperability. As Tier-2s become more adopted, the need for new solutions becomes more critical. Buterin summarizes this problem under two main headings.
First, it proposes a new method as users begin to hold assets at various Tier-2 and Tier-1 so that they can exchange access keys across multiple accounts without the need for multiple transactions. Second, it handles addresses that are not yet registered on the Blockchain. But these wallets also need to hold funds securely…
Tips from Vitalik Buterin
To address these issues, Buterin proposes a unique architecture known as entity/keystore separation. Under this model, users will have a keystore contract that contains the validation keys and the rules for changing it. Also, wallet contracts on Layer-1 and several K-2s communicate cross-chain to receive the authentication key.
Two applications of this system have been proposed. The “light version” allows each wallet to store the authentication key locally. It will also require updating the keystore’s current state with a cross-chain proof. The “heavy release” will require cross-chain proof for each transaction. This makes keystore updates cheaper. However, it increases costs per transaction.
Buterin also identifies five types of proof schemes that can be used, from Merkle proofs to Verkle proofs. More importantly, it highlights the need for cross-chain proofs that need to be highly optimized.
In the long run, consolidating evidence through user-provided grouping operations can help reduce costs. Additionally, Tier 2 solutions should minimize the latency to read the Tier 1 state. Wallets can also be placed on systems with lower Ethereum connections, such as Tier 3s or separate chains. However, the keystore must be kept at Layer 1 or Layer 2 with high security zero-knowledge collection.
Ethereum’s location
According to Buterin, Ethereum is currently actively moving towards better cross-chain interactions, asset/keystore separation, and a stronger focus on privacy. He emphasized rollups and L2 scaling solutions in his previous article. As Kriptokoin.com, we have included 3 key exchanges in Buterin’s June 9 article in this article.
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