Vitalik Buterin wants to make Ethereum ‘as simple as Bitcoin’ by 2030
The post Vitalik Buterin wants to make Ethereum ‘as simple as Bitcoin’ by 2030 appeared on BitcoinEthereumNews.com. Ethereum co-founder Vitalik Buterin believes that the blockchain’s long-term resilience and scalability hinge on making it simple, like Bitcoin. In a blog post on May 3, he described how “Ethereum 5 years from now can become close to as simple as Bitcoin.” Buterin wrote: “One of the best things about Bitcoin is how beautifully simple the protocol is.” According to Buterin, Bitcoin’s minimalist design and simplicity makes it accessible, so that even a high-school student can grasp the concept and architecture of the protocol. Simplicity, Buterin argued, also brings other benefits, like cutting the cost of creating new infrastructure and maintenance of existing infrastructure, as well as reducing the risk of bugs. Recent upgrades like proof-of-stake (PoS) and Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) integration have made Ethereum more robust. However, neglecting simplicity of design has added to Ethereum’s costs. Buterin explained: “Historically, Ethereum has often not done this (sometimes because of my own decisions), and this has contributed to much of our excessive development expenditure, all kinds of security risk, and insularity of R&D culture, often in pursuit of benefits that have proven illusory.” Simplification of the Ethereum consensus layer In November, Ethereum Foundation researcher Justin Drake proposed a consensus layer upgrade called the ‘Beam Chain.’ Buterin believes that the Beam Chain is “well-positioned to be much simpler” than its outdated predecessor, the current beacon chain. This is because the beam chain will allow for 3-slot finality redesign, which will eliminate complex concepts like separate slots, epochs, and sync committees, Buterin noted. He also highlighted that a basic implementation of 3-slot finality can be achieved through about 200 lines of code, making it much simpler. The beam chain will also reduce the number of active validators at a time, which would make it “safer to use simpler implementations…
The post Vitalik Buterin wants to make Ethereum ‘as simple as Bitcoin’ by 2030 appeared on BitcoinEthereumNews.com.
Ethereum co-founder Vitalik Buterin believes that the blockchain’s long-term resilience and scalability hinge on making it simple, like Bitcoin. In a blog post on May 3, he described how “Ethereum 5 years from now can become close to as simple as Bitcoin.” Buterin wrote: “One of the best things about Bitcoin is how beautifully simple the protocol is.” According to Buterin, Bitcoin’s minimalist design and simplicity makes it accessible, so that even a high-school student can grasp the concept and architecture of the protocol. Simplicity, Buterin argued, also brings other benefits, like cutting the cost of creating new infrastructure and maintenance of existing infrastructure, as well as reducing the risk of bugs. Recent upgrades like proof-of-stake (PoS) and Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) integration have made Ethereum more robust. However, neglecting simplicity of design has added to Ethereum’s costs. Buterin explained: “Historically, Ethereum has often not done this (sometimes because of my own decisions), and this has contributed to much of our excessive development expenditure, all kinds of security risk, and insularity of R&D culture, often in pursuit of benefits that have proven illusory.” Simplification of the Ethereum consensus layer In November, Ethereum Foundation researcher Justin Drake proposed a consensus layer upgrade called the ‘Beam Chain.’ Buterin believes that the Beam Chain is “well-positioned to be much simpler” than its outdated predecessor, the current beacon chain. This is because the beam chain will allow for 3-slot finality redesign, which will eliminate complex concepts like separate slots, epochs, and sync committees, Buterin noted. He also highlighted that a basic implementation of 3-slot finality can be achieved through about 200 lines of code, making it much simpler. The beam chain will also reduce the number of active validators at a time, which would make it “safer to use simpler implementations…
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