Cryptocurrency Editor's Picks Ethereum News

Vitalik Buterin and His Proposal to Accelerate Ethereum

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TL;DR

  • Vitalik Buterin proposes adopting a “single-slot finality” to speed up transaction confirmation times on Ethereum, simplifying the current process.
  • The new system would eliminate the need for multiple epochs to confirm transactions, aiming to reduce complexity and improve the efficiency of the consensus protocol.
  • Solutions like based preconfirmations and rollups are being explored to address congestion challenges and enhance ETH scalability.

Vitalik Buterin has proposed the adoption of a “single-slot finality” (SSF) system to accelerate transaction confirmation times on the Ethereum (ETH) network. The proposal aims to change the current epochs and slots mechanism to a more efficient and faster one, similar to the consensus used in Tendermint.

According to Buterin, despite the improvements introduced by EIP-1559 and the Merge, which have significantly reduced confirmation times to between 5 and 20 seconds, there is a growing demand for even lower latencies, specifically for applications requiring transactions in milliseconds.

Ethereum’s current Gasper system operates with 12-second epochs, where a group of validators selects and validates blocks in each slot. However, full transaction finality can take up to 12.8 minutes, which is too long for applications needing faster certainties.

Ethereum Must Work on its Efficiency and Operability

The SSF proposed by Buterin would simplify this process by finalizing each block before moving to the next one, eliminating the need for multiple epochs to confirm transactions. This solution not only speeds up transaction finality but also reduces the complexity of the current system, which has been criticized for its tendency to encounter interaction bugs between slot-by-slot voting mechanisms and epoch-by-epoch finality.

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However, SSF faces several challenges, such as the potential increase in the message load that validators would handle, potentially congesting the Ethereum network if not implemented correctly. Nevertheless, proposals like Orbit SSF have emerged to address these conflicts. There is ongoing progress in designing and developing more efficient consensus systems.

Buterin also emphasized the importance of “based preconfirmations” and the role of rollups in enhancing Ethereum’s scalability. These Layer 2 protocols could provide security levels similar to ETH but on a much larger scale. Separating responsibilities between the base layer (L1) and Layer 2 solutions to optimize user experience.

ETH continues to explore new possibilities to improve transaction speed and efficiency on the network, adapting to the evolving demands of applications and users in the blockchain space.

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