An Ethereum researcher’s social media publish has sparked hypothesis over a possible answer for the layer-1 blockchain’s scalability challenges.
On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “bold” initiative for Ethereum. Drake mentioned he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpret as a step towards fixing its scalability points.
Supply: Justin Drake
The researcher mentioned his aim could be to recommend a technique to ship a Beacon Chain highway map. He’s anticipated to share the proposal at Devcon in Bangkok, Thailand, on Nov. 12.
Group speculates about ETH 3.0
Following Drake’s publish, rumors about an ETH 3.0 improve circulated among the many Ethereum group. On X, Ambient Finance founder Doug Colkitt posted a couple of rumor circulating that the ETH 3.0 announcement is a “second merge into a brand new consensus concentrating on 1-second block occasions” and a local zero-knowledge Ethereum Digital Machine (zkEVM).
Supply: Doug Colkitt
Colkitt believes that if the rumors become correct, having a local zkEVM could be a “enormous” replace:
“The fuel restrict could be eradicated solely. Builders can construct arbitrarily massive blocks since nodes solely must confirm the snark. The one scaling restrict left could be bandwidth.”
Colkitt expressed optimism {that a} zkEVM might imply arbitrary scalability and get rid of the necessity for layer-2 rollups.
Not everybody in the neighborhood believes within the ETH 3.0 hypothesis. One group member thinks the rumor is “100% BS,” mentioning that important updates like this could have been signaled months upfront. The group member famous that associated Ethereum Enchancment Proposals would possible have been filed if such an replace have been imminent.
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How Ethereum could remedy scalability points
In an interview with Cointelegraph’s Andrew Fenton, Consensys CEO Joe Lubin mentioned potential options for Ethereum’s scalability.
Lubin mentioned the Ethereum ecosystem might revisit the previous idea of execution sharding, doubtlessly utilizing a zkEVM at layer-1 to create equivalent execution shards:
“The fascinating factor about that, that method of utilizing layer 1 wasn’t actually doable a number of years in the past once we discarded the concept of execution sharding, what we would have liked to do was throw open this divergent exploration and quite a lot of stuff got here again.”
Lubin added that there’s quite a lot of learnings from the event of zero-knowledge approaches and optimistic approaches that might be introduced again all the way down to the Ethereum layer-1 to “make all the things higher.”
Lubin additionally believes this might result in scalability options for Ethereum: “You’re simply boiling down an enormous quantity of computation at totally different layers and amortizing quite a lot of computation right into a single transaction. When you do that each two seconds or much less, then you definately get quite a lot of transactions per second,” he defined.
Whereas Lubin is optimistic that these approaches might result in Ethereum attaining thousands and thousands of transactions per second, he acknowledged that full implementation might take a number of years.
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