Ethereum is an open, decentralized and licensing free blockchain platform that supports innovative functions such as smart contracts, decentralized applications (DApp) and tokens. Vitalik Buterin, one of the founders of Ethereum and one of its main contributors and leaders, shared his vision for the future development of Ethereum ecosystem in a recent article
Ethereum is an open, decentralized and licensing free blockchain platform that supports innovative functions such as smart contracts, decentralized applications (DApp) and tokens. Vitalik Buterin, one of the founders of Ethereum and one of its main contributors and leaders, shared his vision for the future development of Ethereum ecosystem in a recent article. He believes that Ethereum needs to achieve technological change in three aspects in order to provide better experience and value for ordinary users. These three aspects are:
-L2 extension change: Let everyone use rolls technology to improve the throughput and efficiency of Ethereum, and reduce transaction costs and delays.
-Wallet security transformation: Enable everyone to use smart contract wallets, improve asset security and flexibility, and support functions such as multi-signature, social recovery, and token payment.
-Privacy change: Enable everyone to use privacy protection technology to protect users' financial, identity, and reputation information, and prevent them from being monitored and analyzed.
L2 Extension Transformation
L2 refers to the second layer of solutions built on the Ethereum main chain (L1). They can take advantage of the security and decentralization features of the main chain, while providing higher performance and lower costs. Currently, L2 solutions are mainly divided into two categories: state channels and rollops. State channels are a peer-to-peer trading method that can conduct multiple transactions off the chain, only broadcasting on the chain when the channel is opened and closed. Rollups are a way of aggregating transactions, which can execute transactions offline and package transaction data for uploading to the main chain for verification in the event of disputes.
Vitalik believes that rollups are currently the most promising L2 solution because they can support more application scenarios and maintain high compatibility with the main chain. He predicted that in the next few years, rolls will become the most mainstream L2 technology in the Ethereum ecosystem, and two types of rolls will dominate: ZK rolls and Optimistic rolls. ZK rolls is a roll up technology based on Zero-knowledge proof, which can generate validity proofs under the chain and submit them to the main chain to ensure the correctness of transactions. Optimistic rollups is a fraud proof based rollup technology that assumes transactions are valid offline and submits them to the main chain, unless someone challenges and proves that the transaction is invalid.
Vitalik pointed out that ZK rolls and Optimistic rolls each have their own advantages and disadvantages. The advantage of ZK rollups is that it can realize instant confirmation, higher security and lower cost, but the disadvantage is that it requires more complex Cryptography and engineering, as well as more data on the chain. The advantage of Optimistic Rollups is that it can achieve higher compatibility and more flexible functionality, but the disadvantage is that it requires longer confirmation time, higher costs, and more off chain infrastructure. Vitalik predicts that ZK rolls will be mainly used for simple asset transfer and exchange scenarios, while Optimistic rolls will be mainly used for complex smart contract and DApp scenarios.
Vitalik L2 Extension Transformation L2 Extension TransformationDApp rollups
Wallet security reform
Wallets are the entrances and bridges for users to interact with Ethereum. They can store, manage and use information such as users' assets and identities. At present, the wallets on Ethereum are mainly divided into two categories: externally owned accounts (EOA) and smart contract accounts (SCA). EOA is an account controlled by a private key that can directly send transactions to the main chain, and the address is generated by a public key hash. SCA is an account controlled by a smart contract that can execute logic on the main chain, and the address is generated by the contract code hash.
Vitalik believes that smart contract accounts are the future direction of wallet development, as they can provide higher security and flexibility. He believes that smart contract accounts can achieve the following advantages:
-Multiple signatures: Smart contract accounts can support multiple private keys to control the same account, thereby improving the security and recoverability of assets.
-Social Recovery: Smart contract accounts can support users to restore access to the account through their chosen friends or institutions, thereby avoiding losses caused by the loss of private keys.
-Token payment: Smart contract accounts can support users to use any ERC20 token to pay transaction fees, thereby improving asset liquidity and convenience.
-Other functions: The smart contract account can also support other functions, such as limiting transfer limits, setting white or black lists, and implementing automated policies.
Vitalik Wallet security reformWallet security reformDApp
Privacy change
Stealthaaddress). Mixed currency is a technology that hides the source and destination of funds by mixing users' funds with those of other users. Invisible address is a technology that hides the recipient and balance of funds by allowing users to use a one-time address.
Vitalik believes that privacy protection technologies are an important part of the future development of Ethereum, because they can protect the privacy and freedom of users. He believes that privacy protection technology can achieve the following advantages:
-Prevention of monitoring and analysis: Privacy protection technology can prevent third parties from monitoring and analyzing users' transactions and activities, thereby avoiding the leakage or abuse of user information.
-Maintain fairness and competition: Privacy protection technology can maintain fairness and competition among users, thereby avoiding discrimination or manipulation due to the disclosure of their information.
-Enhancing trust and cooperation: Privacy protection technology can enhance trust and cooperation among users, thereby promoting more social and economic activities.
Vitalik Privacy changePrivacy changeDApp
summary
Vitalik L2 Extension TransformationWallet security reformPrivacy change
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