Ethereum founder Vitalik Buterin shared insights on the protocol’s potential improvements following the Merge. He outlined areas of enhancement, including transaction speed, solo staker accessibility, and security.
In a blog post released on October 14, Buterin acknowledged the Merge as the “most important event” in the blockchain’s history. The long-awaited Merge transitioned Ethereum’s consensus mechanism from Proof of Work (PoW) to Proof of Stake (PoS). Buterin commended the network’s stable operation and resistance to centralization risks.
One of the main issues that Buterin identifies yet to be resolved is the longer transaction time. Buterin envisions Ethereum’s advanced future with reduced transaction finalization time. He proposed solutions like single-slot finality that enhance competitiveness and user experience.
Vitalik Buterin Highlights Ethereum’s Progress at Token 2049
Another important focus is to make Ethereum more accessible to a broader range of users. Buterin aims to reduce the minimum staking requirement from 32 ETH to 1 ETH, making participation more inclusive. This would in turn increase the ecosystem’s decentralization, minimizing the risk of a single entity’s control.
Further, the Ethereum founder emphasized the significance of the blockchain’s security. He hinted at the possible implementation of a cryptographic technique called single secret leader election. He believes that it would make it difficult for the attacker to take control of the system.
Your technical work has been exemplary, and your achievements (still one of only two stage-1 EVM rollups, and huge amount of usage across diverse industries) show it.
— vitalik.eth (@VitalikButerin) October 13, 2024
Meanwhile, Offchain Labs has expressed enthusiasm for partnering with Ethereum. The firm plans to continue its journey with Ethereum to achieve the latter’s future goals. Offchain Labs’ co-founder Steven Goldfeder remains confident in Ethereum’s long-term success. This is mainly due to its decentralized nature. As per Goldfeder, Ethereum will lead the Layer 1 blockchains, while Arbitrum will be at the forefront of L2 networks. Buterin appreciated Offchain Labs’ efforts and contributions to Ethereum’s successful journey.
