Vitalik Buterin, the founder of Ethereum, talked about the details of the implemeation of The Surge update on Twitter at the beginning of the new year. The update, which is the second of five remaining phases in Ethereum’s roadmap, aims to process 100,000 transactions per second.
According to Coielegraph, Vitalik Buterin answered the question of Balaji Srinivasan, the former Chief Technology Officer of Coinbase on December 31 (10th), who asked users, “Are they optimistic about anything in 2023?” It said it looks forward to completing the roll-up scaling solution, as outlined in the Ethereum roadmap.
He explained that this would mean launching Ethereum Improveme Proposal 4884 (EIP-4884) as part of the Serge update.
The proposed Ethereum 4884 improveme was expected to be implemeed first as part of the Shanghai Update. Also known as Proto-DankSharding, the purpose of iroducing this proposal is to significaly increase the scalability of Ethereum’s Layer 2 (Serge) before the full implemeation of a major sharding update later next year.
Poiing to a Nov. 22 post on the Ethereum Magicians forum that describes a three-stage trust model based on a project’s technological maturity, Buterin said roll-up solutions, at least uil the first stage is complete, are like auxiliary wheels in implemeation. They will be Ethereum’s three-step trust model.
Phase zero, which Buterin likens to running on flywheels, provides the prerequisites for all transactions to settle and allow for asset withdrawals without the need for an operator.
Stage one or stage limited use of assistive wheels to confirm or reject transactions must have a validation method such as fraud proof or credit proof scheme. This mechanism, along with a high security council to oversee the process, determines which transactions are allowed to be executed by the smart coract.
In the second step, which is done without the use of auxiliary wheels, there must be two validation methods, fraud proof or distinct autheication, or one of each. Updates are allowed at this stage but must be done after at least 30 days have passed.
In a separate Twitter post on December 30th, Buterin expressed his opinion on what the future of digital currencies will look like.
In his opinion, several areas in digital currencies need to be reviewed and improved, including scalability, privacy, user experience, and making user accous more secure for ordinary users than ceralized services.
Buterin also sees paymes and deceralized finance as part of this future and new organizational paradigms supported by deceralized self-governing organizations.
