Vitalik Buterin, the founder of Ethereum, talked about the details of the implementation 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 Cointelegraph, 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 Improvement Proposal 4884 (EIP-4884) as part of the Serge update.
The proposed Ethereum 4884 improvement was expected to be implemented first as part of the Shanghai Update. Also known as Proto-DankSharding, the purpose of introducing this proposal is to significantly increase the scalability of Ethereum’s Layer 2 (Serge) before the full implementation of a major sharding update later next year.
Pointing 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 until the first stage is completed, are like auxiliary wheels in implementation. 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 assistance 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 contract.
In the second step, which is done without the use of auxiliary wheels, there must be two validation methods, fraud proof or distinct authentication, 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 accounts more secure for ordinary users than centralized services.
Buterin also sees payments and decentralized finance as part of this future and new organizational paradigms supported by decentralized self-governing organizations.
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