Bittime - The Ethereum ecosystemis undergoing a significant shift. Vitalik Buterin, co-founder of Ethereum, called for a shift in developer mindset to build a more far-reaching crypto future.
This call came after the completion of the Dencun hard fork on Ethereum. This hard fork marks a major step for Ethereum towards a future centered on Layer 2 (L2).
Dencun and Layer-2 Scalability
At ETH Global's Pragma London event on March 14, Buterin praised Dencun's success. This hard fork allows L2 rollups to achieve scalability by reducing the cost of sending cryptographic proofs to the Ethereum base layer.
Buterin said that Ethereum has officially reached basic rollup scalability, but noted that improvements will occur in stages. Additionally, the smooth success of Dencun has given rise to great curiosity about Ethereum's next steps.
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Ethereum Roadmap and EIP-4844
Buterin reflected on Ethereum's much-cited roadmap, post its successful migration to proof-of-stake consensus via The Merge in 2022. He said that many of the achievements outlined previously focused primarily on technical aspects, and some of them were realized with the completion of Dencun.
Meanwhile, Dencun included an Ethereum Improvement Proposal (EIP-4844) that changes the way Ethereum rollups store data on mainnet. Some L2 rollups collect and process off-chain transactions and send concise proof of those transactions to the Ethereum blockchain.
EIP-4844 introduces a new way for rollups to add cheaper data to blocks by introducing "blob space" instead of using call data for storage.
Previously, using call data to store cryptographic proof of off-chain transaction bundles was expensive. This is because all Ethereum nodes must process data on the on-chain indefinitely.
“Proto-danksharding,” named after the researcher who filed EIP-4844, allows rollups to send and attach blob data to blocks. This data cannot be accessed by the Ethereum Virtual Machine and will be deleted automatically after 18 days.
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Ethereum Ecosystem Shift
Ethereum has continued to change over the past decade. Buterin emphasized that the ecosystem needs to change its approach to have a significant impact on the internet and conventional financial systems.
Buterin views Ethereum's first decade as an internally focused period. He reflected on how the current ecosystem was more inclined towards internal development.
The Dencun hard fork played a key role in this narrative, allowing the Ethereum ecosystem to shift away from a layer-1 focus. Buterin also predicts Ethereum's base layer will shift from a period of rapid change to one that is more focused on maintenance.
While Buterin acknowledged that L1 changes will continue to be part of ecosystem development, going forward an L2-centric mindset must be adhered to, with a primary focus on application developers.
Buterin said that the ecosystem has created a multitude of tools for building DApps, with the most important being zero-knowledge proofs. Buterin also urged developers to adopt an "Ethereum 2.0" approach to development.
This approach leverages contemporary tools and protocols such as L2 rollup to leverage enhanced privacy, security, and performance benefits. By shifting focus to L2 and Ethereum 2.0, the Ethereum ecosystem is expected to develop even more rapidly and have a broader impact in the future.
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What is Ethereum (ETH) 2.0 and how is it different from Ethereum
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