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Bullish points for Buterin in 2023

82900064-5022-40b3-a00c-c94b05d82078

Written by

Edna Buckley
Published on

January 3, 2023

Key points: 

  • Ethereum developers confirmed that in 2023 the Ethereum Improvement Protocol 4884, which was removed as part of the upcoming March Shanghai upgrade package, will be rolled out.
  • EIP-4884 was originally planned to be packaged with Shanghai and introduce "proto-danksharding" to significantly improve the scalability of Layer 2 rollup. 
  • Buterin outlined several areas of encryption that need fixing, including scaling, privacy, user experience, and being a centralized service to make user accounts more secure for regular users.
  • He also sees payments and decentralized finance (DeFi) as part of the future, along with a new organizational paradigm driven by decentralized autonomous organizations (DAOs).

Ethereum co-founder Vitalik Buterin expressed optimism for the year ahead, including reaching new rollup scaling milestones according to the Ethereum roadmap.

Ethereum developers also confirmed that sometime in 2023 the Ethereum Improvement Protocol (EIP) 4884, which was removed as part of the upcoming March Shanghai upgrade package, will be rolled out.

Responding to a Dec. 31 post by former Coinbase CTO Balaji Srinivasan asking users about their optimistic outlook for 2023, Buterin said he was looking forward to marking the "base rollup" milestone "expansion" outlined in Ethereum's roadmap.

Vitalik Tweet on His Roadmap Diagram

He explained that this means the launch of the Ethereum Improvement Proposal (EIP)-4884, which is related to The Surge.

EIP-4884 was originally planned to be packaged with Shanghai and introduce "proto-danksharding" to significantly improve the scalability of Layer 2 rollup. The surge will fully implement the major sharding upgrade by the end of next year ahead of schedule.

He also said it would mean rollups would "partially reduce training wheels, at least to level 1," referring to a Nov. 22 post on the Ethereum magicians forum describing the three stages of a "trust model." Based on the maturity of the project technology.

Buterin likened Tier 0 to “full training wheels,” requiring all transactions to take place on-chain, enabling users to withdraw assets without a carrier.

Layer 1 or "restricted training wheels" must have transaction verification methods, such as fraud or verification schemes, to accept or reject transactions allowed by smart contracts, and an overall security committee to oversee the process.

While layer 2 has "no training wheels" and must have two different fraud checkers, two different validators, or one of each. Upgrades are currently allowed but must be delayed by more than 30 days.

In another Twitter thread a day earlier, on Dec. 30, Buterin also made some comments about what he thinks a “bright cryptocurrency future” might look like.

Buterin outlined several areas of encryption that need fixing, including scaling, privacy, user experience, and being a centralized service to make user accounts more secure for regular users.

He also sees payments and decentralized finance (DeFi) as part of the future, along with a new organizational paradigm driven by decentralized autonomous organizations (DAOs).


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