One day, after a massive BTC price surge, ETH faced danger. The interesting part about the whole deal is that Vitalik might be to blame. Buterin is known for pushing the boundaries of ETH, and this time, he is trying to overhaul the blockchain and bring it to Layer 1 completely.
As per Buterin’s vision, the project will make the blockchain more capable of taking on extremely high workloads, without losing decentralization or the security array. The project is a part of a broader aim to make the blockchain capable of supporting crypto while retaining its openness.
Will It Truly Happen?
Some insiders claim that this is just the ambitious ramblings of a crypto bro. However, those who know Vitalik Buterin would attest that he does not like unfinished business. He is persistent in his endeavor and keeps applying pressure until he gets what he wants. Therefore, making him a fierce figure in the world of crypto.
Vitalik has been quite clear about his ask. He has listed them in a numbered manner. Here they are:
- “This is average case, not worst case. We need real-time worst case for safe L1 use”
- “Not formally verified”
- “~100 kW to prove. Proving is a 1-of-n trust model, but even still, perhaps we want proving doable at home (~10 kW)”
- “We wanna 10-100x the L1 gaslimit”
Hence, Vitalik’s immensely ambitious vision for the ETH blockchain is clear. It will be interesting to see what he does in the coming year. However, making any massive change in the chain can have consequences. Hence, understanding that part is also quite important.
