- Vitalik Buterin, the co-founder of Ethereum, expressed his bullish goals for 2023 and explained the evolution of Ethereum.
- The Surge phase is expected to be rolled out this year, enabling Ethereum to carry out 100,000 transactions per second (TPS).
- Vitalik identifies and explains the three stages of all rollup transactions expected to pass.
Ethereum, the second most popular blockchain and most-priced cryptocurrency (ETH), is famous and widely used by crypto enthusiasts for its encompassing features. Since being created in 2014 by Vitalik Buterin, the Ethereum network has only strived to improve. The roadmap for Ethereum is promising and shows that the most popular blockchain network among NFTs (Non-Fungible Tokens) and DApps (Decentralised Applications) is actively working towards making itself more secure for its users in the Web3 space.
2022 was a bearish market for the crypto industry, recording drastic low prices for most crypto coins like BTC and Ether or ETH. In a December 31 tweet by the previous Chief Technology Officer (CTO) of Coinbase, Balaji Srinivasan, Vitalik Buterin, the co-founder of Ethereum, the world’s leading smart-contract platform, shared his 2023 bullish goals with the crypto community, expressing his desire for the growth of Ethereum by achieving a new landmark for rollup scaling according to the roadmap.
Buterin assured the rollout of Ethereum Improvement Protocol (EIP) 4844 in 2023. This phase was removed earlier from the new Shanghai upgrade package scheduled for March 2023.
“Reaching the ‘basic rollup scaling’ milestone in my roadmap diagram,” Vitalik Buterin said on Twitter.
The crypto founder then explained what he meant, saying he hoped for the rollout of the Surge phase on Ethereum’s roadmap. The Surge phase is the second stage after the completion of the Merge. Here, Vitalik expects Ethereum to perform 100,000 transactions per second (TPS) through rollups. The Surge phase is a chance for Ethereum to achieve scalability by breaking Ethereum (ETH) into shards (proto-danksharding) and expanding the network’s computational capacity.
“EIP-4844 rolled out; rollups partially taking off training wheels, at least to stage 1,”
What is Proto-Danksharding?
EIP-4844 is a new type of transaction that allows “blobs” of data to be continued in the beacon node for a short time. These effects are, therefore, compatible with Ethereum’s scaling roadmap, as blobs are compact enough to keep disk use tolerable.
What are Rollups?
Rollups execute transactions on a faster blockchain (layer 2) and then transfer the transactional data back to the original blockchain (layer 1) at a reduced price. This is affordable for users, as they enjoy the speed and low cost of the rollup while also enjoying the security of the blockchain.
Rollups are a method of making a blockchain’s transactions faster and less expensive. They are one of the many scaling systems, as others include side chains and state channels.
Types of Rollups
- Zero Knowledge (ZK) Rollups
ZK-rollup uses a piece of cryptography (Zero-Knowledge proof) to decide if a transaction is valid using little information from the transaction. ZK-rollup is cheaper, faster, and more efficient, but it is too complex to operate.
- Optimistic Rollups
It optimistically predicts that all transactions performed in a rollup are valid. Optimistic rollups allocate a timeframe to its users to combat fraudulent transactions. Optimistic rollups are known for their quick calculations because it assumes all transitions carried out in a rollup are valid.
Ethereum Magicians Forum
In a November 22 blog post titled “Ethereum Magicians Forum,” the co-founder of Ethereum, Vitalik Buterin, wrote about the three stages, explaining how every tech project requires training wheels before it can mature.
“While a project’s tech is still immature, the project launches early anyway to allow the ecosystem to start forming,” the blog post reads.
Vitalik categorized rollups into three stages, depending on how they rely on their training wheels.
- Stage 0: (Full Training Wheels): All rollup transactions are expected to go on-chain. There must be a ‘rollup full node,’ an independently functioning software package that can understand the L1 chain. There must be machinery that allows users to post rollup transactions freely.
- Stage 1: (Limited Training Wheels): There should be a functioning fraud-proof or validity-proof scheme; it must have a multisig-based override mechanism used to override the fraud-proof or validity-proof system’s outputs and post-state roots.
- Stage 2: (No Training Wheels): If the code has no bugs, there should be no group of actors empowered to post a state root aside from the output of the code. Upgrades are permissible but will have a delay of over 30 days.
Conclusion
Vitalik Buterin believes 2023 will be bullish for the Ethereum network, as he expects to have introduced the next phase in the Ethereum roadmap. The Surge phase will see the rollout of EIP-4844 (Ethereum Improvement Protocol).
