Coins by Cryptorank
NewsEditorial office

Vitalik Buterin, Ethereum co-founder breaks down what he’s bullish about for 2023

Winnie Kimeu

Writer, News

Jan 3, 2023 at 03:35

It’s all bull in 2023!

Former Chief Technology Officer of Coinbase, Balaji Srinivasan, asked his followers on Twitter what they were bullish for in 2023, to which 200+ people responded.

Ethereum co-founder Vitalik Buterin was not left behind as he has shared some bullishness for 2023 – it includes reaching an exciting new milestone for rollup scaling.

In an article published by Cointelegraph, Vitalik has confirmed the rollout of the Ethereum Improvement Protocol (EIP) 4884, expected sometime in 2023. The protocol was previously removed due to the upcoming Shanghai upgrade scheduled for March 2023.

The brand new newsletter with insights, market analysis and daily opportunities.

Let’s grow together!

Responding to the tweet by Balaji, Buterin said he was looking forward to reaching the “basic rollup scaling” milestone as outlined in the Ethereum roadmap.

EIP-4884 was initially expected to be packaged in with Shanghai. According to Vitalik, this would introduce “proto-danksharding” to significantly enhance layer-2 rollup scalability, The Surge, ahead of the full implementation of the major Sharding upgrade in 2024.

In a November 2022 post, Vitalik described the three stages of the ‘trust model’ based on how mature a project’s tech was. They are:

Stage 0: which has ‘full training wheels’ which are the requirements for all transactions to be on-chain and will provide users the ability to withdraw their assets without the use of an operator.

Stage 1: which has limited training wheels, will have a transaction verification method such as a fraud proof or validity proof scheme to accept or reject which transactions are allowed by the smart contract, along with an overriding security council to oversee the process. 

Stage 2: which has no training wheels, will have two distinct fraud provers, two distinct validity provers, or one of each. Upgrades are accepted at this stage but must have a delay of more than 30 days or more. 

Moreover, the rollups would be “partially taking off training wheels, at least to stage 1,” referring to a Nov. 22 post on the “Ethereum Magicians forum,” which describes three stages of the “trust model” based on how mature a project’s tech was.

Future of crypto, according to Vitalik Buterin, the Ethereum co-founder

Vitalik also made some comments on Twitter in December 2022 about the future of crypto and outlined some areas of crypto that could need some improvement. 

These areas are scaling, privacy, user experience, and making user accounts more secure for average users than centralized services.

Whales are no longer the problem for blockchain ecosystems; hackers and bad actors are. 

Finally, Vitalik mentions payments, decentralized finance (DeFi) and new organizational paradigms powered by decentralized autonomous organizations (DAOs) as being part of a  successful crypto future. 

All information provided on this website is for educational and informational purposes only. Please consult with our Disclaimer.

Home » News » Vitalik Buterin, Ethereum co-founder breaks down what he’s bullish about for 2023

Your complaint has been sent to a moderator