Vitalik Buterin, co-founder of Ethereum, has proposed that the blockchain cease making changes at its base layer and instead embrace a gradual stabilization process. This suggestion was put forth at Devconnect in Buenos Aires.
According to Buterin, stabilizing the protocol’s core functions serves to reduce the risk of errors and strengthen the overall security of the ecosystem. He articulated that "more stabilization over time is good for Ethereum," as it leads to fewer unexpected issues for both users and developers.
Implications of Buterin's Proposal
Buterin's approach does not advocate for the cessation of research and innovation. Instead, it calls for a redirection of these efforts toward the surrounding ecosystem. Developers should concentrate on areas such as layer 2 rollups, wallets, privacy tools, and user-facing applications, while the base layer should remain stable. Currently, layer 2 solutions are responsible for processing the majority of Ethereum’s transaction volume, thereby alleviating congestion on layer 1 and allowing it to focus on settlement and security.
Buterin clarified that 'ossification,' or stabilization, is not an absolute concept. Different layers of the blockchain can evolve at varying paces. The consensus layer can be locked down while the EVM (Ethereum Virtual Machine) remains adaptable, or vice versa, thereby maintaining a balance between stability and flexibility. This design aims to safeguard the network’s core functions without stifling creativity in the outer layers, preventing critical protocol decisions from being exposed to potential faults or implementation errors.
Quantum Computing Threat to Ethereum and Bitcoin
Buterin also acknowledged that the move towards stability presents certain trade-offs. The significant influx of memecoins and institutional investors has prompted the ecosystem to adopt a more conservative stance, with many projects prioritizing the replication of successful existing concepts over the exploration of novel ideas. This trend has, in his view, limited creativity, a phenomenon he believes needs to be counteracted through continuous research and innovation.
Furthermore, Buterin issued a warning regarding a medium-term technological risk: elliptic curve cryptography. This cryptographic method is fundamental to the security of both Ethereum and Bitcoin, but it could potentially be compromised by quantum computing before the year 2028. This timeline provides the ecosystem with approximately four years to transition to quantum-resistant solutions, ensuring that necessary changes are implemented at the system's periphery rather than its core.
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