Ethereum (Ethereum) co-founder Vitalik Buterin (Doulin) said that Bitcoin supporters believe that Bitcoin is 80% complete, but Ethereum supporters believe that Ethereum is only 40% complete, and is expected to be in Ethereum will still be only about 55% complete after the merger is completed in September of this year. (Recap:Dry goods | The latest route introduction of V God’s Ethereum: after 5 major stages, it will reach 100,000 TPS) (event background:ETH2.0 | Ethereum Merger Leader: The Merge is expected to launch on September 19!)
TimeChandar Vitalik brought his new bag to Paris, the fashion capital, to attend ETH CC and give a speech. God V said:
“Bitcoin proponents think bitcoin is 80% complete, but ethereum proponents think ethereum is only 40% done, and after the merger is expected to be completed in September, ethereum will still only be about 55% done.”
Merge is just a small step in the development of Ethereum, followed by Surge, Verge, purge and splurge. In short, Ethereum is still very early, and the big move is not finished.
The following is the PPT summary of V God’s speech, the picture comes from Biconomy CTO:
Merge is not the final destination of Ethereum, the development path is:
Merge => Surge => Verge
Merge is about moving from POW to POS;
Surge is about introducing sharding;
The Verge is about Verkle trees to help optimize storage on Ethereum and help reduce node size.
We are at a stage where the capabilities of Ethereum are becoming more powerful through rapid changes in the protocol.
But eventually we will stop making rapid changes to the protocol and use systems like L2 to add more functionality to the Ethereum ecosystem.
Layer1 (L1) is for safety and reliability, and Layer2 (L2) is for fast iteration and execution.
Escape velocity theory: Once L1 is strong enough, L2 can do the rest.
Developers need a break, and new features take time to eliminate and reduce risk. (So, that’s the reason for the slow progress?)
Further reading:Dismantling the current status of L2｜Layer 2 plans are launched on the main network and issued tokens. What is the adoption situation?
Further reading:V God admits: Ethereum cannot be commercialized on a large scale yet, and Layer 2 expansion is an urgent need
We need, short-term pain, long-term gain
SELFSESTRUCT is prohibited
EIP-4444 : Clients MUST stop serving historical headers, bodies, and receipts at the p2p layer for more than a year.
Switch to verkle tree (store more data in less space)
This probably means no backward compatibility.
Further reading:Ethereum | Buterin’s proposal EIP-4488, if passed, will reduce the Layer2 Gas fee by 5 times in the short term
Further reading:What is ERC1155?Take Adidas NFT as an example to analyze
These are the things vitalik is afraid of:
Added support for multiple virtual machines, increased consensus complexity; solved base layer SNARKS instead of waiting for a better circuit design; made Ethereum so complex that only developers could understand its design.
Where should the focus be?
Easy-to-use light clients, so anyone can run them; allows everyone to easily stake in Ethereum via a smaller decentralized stake pool; runs full nodes on lighter hardware.
Make ethereum quantum resistant so you don’t just randomly run a quantum computer to generate someone else’s private key; if zkEVM works well, make txn space in the base layer to make rolling much cheaper; look for stronger ciphers Learn; Finally, keep an open mind!
Raoul Pal, Mr. Disaster
Bitcoin stood at 24,000 magnesium yesterday, ETH broke through 1600; near the merger, the ether whale is “restarting the currency”
The Ethereum testnet Sepolia has completed the merger, and the developers are excited: there are no major errors, and the merger will not be delayed
Researcher: There will be no deflation after the merger of Ethereum; Andrew Kang: “ETH is expensive” from a fundamental point of view