The co-founder of Ethereum, Vitalik Buterin, has laid out what he believes is the roadmap for ETH 2.0, the much-anticipated update to the Ethereum network that promises a “more scalable, more secure, and more sustainable Ethereum.” Buterin’s latest blog article, titled “Endgame,” discusses how the world’s largest smart contract platform can expand while maintaining high standards of trust and censorship resistance. On October 27th, the first of several phases of the ETH 2.0 update, also known as the Altair Beacon Chain upgrade, took occurred.
Buterin explains how the average big blockchain — characterized by very high block frequency, huge block size, and thousands of transactions per second — can still be deemed sufficiently trustworthy and resistant to censorship in his blog article.
The centralized generation of blocks is an obvious trade-off for this degree of flexibility. Buterin’s suggestions, according to the blog post, do not address the issue of centralization, but rather attempt to give a roadmap for implementation.
Buterin wants to implement “a second tier of staking, with low resource requirements” for distributed block validation; introduce “either fraud-proof or ZK-SNARKS to let users directly (and cheaply) check block validity”; and introduce “data availability sampling to let users check block availability [and] add secondary transaction channels to prevent censorship.”
“We now have a chain where block production is still centralised, but block validation is trustless and extremely decentralised, and specialised anti-censorship magic prohibits block producers from filtering,” Buterin writes in the essay.
Buterin claims that block creation will remain centralized despite the introduction of so-called “rollups,” which are layer-two solutions that execute transactions outside of the main Ethereum chain.
“No single rollup comes close to capturing the majority of Ethereum activity.” Instead, they’re all limited to a few hundred transactions per second,” he said. Although rollups appear to have the ability to contribute to distributed block production, owing to the possibility of cross-domain maximum exhaustible revenue, or MEV, decentralization may not be viable. Over and beyond conventional block incentives and gas taxes, MEV refers to the greatest amount of value that may be obtained through block production.
Despite the network’s scalability strategy, Ethereum co-founder Vitalik Buterin believes that block production might become centralized. The benefit of Ethereum’s rollup-centric plan, according to him, is that it is available to all futures.