Ethereum co-founder Vitalik Buterin believes that Ethereum still requires “three major technical transitions” to fully mature as a technology stack – and anything less will not be enough.
In a blog post on Friday, the developer highlighted what would be needed to implement each of its ideal improvements, which could include “deep changes to the app and wallet.”
SCALE, SECURITY AND PRIVACY
According to Buterin, Ethereum's three transitions include layer-2 scaling (rollup), enhanced wallet security (smart contract wallets), and improved privacy – for both standard transfers and private transfers. Other Ethereum applications.
“You can only choose 3 out of 3,” Buterin wrote. The failure of just one of these transitions means the failure of the entire protocol, as users are encouraged to adopt cheaper, more reliable, and “hidden” “centralized alternatives”. part of your data.
However, the transition will be difficult: for example, the adoption of layer-2 protocols and hidden addresses will encourage users to use more blockchain addresses, eliminating the “one user ~” mental model = an address”.
Each transition will also require updated secondary infrastructure. “Using ENS is expensive,” Buterin wrote, referring to the Ethereum Name Service – a system that applies human-readable names to blockchain addresses.
In a bull market, Buterin estimates that the fee to register a domain could rise back above $100. Fortunately, ENS has been developing tools to make its system work on L2, which will allow for “nearly free” domain registration.
“Radical reforms of the kind we need are indeed possible, but many more application-layer reforms will be needed,” Buterin wrote.
