Ethereum co-founder Vitalik Buterin stated that because the Ethereum community matures from a “younger experimental expertise to a mature tech stack,” three main technical challenges associated to Layer 2 scaling, pockets safety and privateness will emerge. Mentioned it needed to undergo a transition.

Buterin stated that these transitions should happen “nearly on the identical time” to make sure success, and if any of them will not be met, sure underlying issues that consequence could cause the community to fail. Added that it’s costly.

He launched the assertion in a weblog submit on June 9, revealing a brand new roadmap for the Layer 1 blockchain community and in addition discussing the essential points plaguing the way forward for Ethereum that must be addressed.

Buterin stated:

“It isn’t simply the performance of the protocol that wants enchancment. In some circumstances, it can require a reasonably basic change in how we work together with Ethereum, requiring important adjustments from functions and wallets.”

Layer 2 scaling

In accordance with Buterin, the Layer 2 rollup solves a major drawback plaguing the Ethereum community: excessive gasoline costs. If customers do not undertake the rollup en masse, gasoline costs will stay unusually excessive, and in a bull market a single commerce can value him $80 or extra.

Even within the present crypto winter, thought of by many to be the harshest in historical past, gasoline costs for Ethereum transactions are sometimes round $3. Buterin believes that is unsustainable and the adoption of Layer 2 is the one technique to remedy it.

In any other case, customers find yourself with “centralized workarounds” which might be extra intuitive and cheaper to make use of.

Pockets safety

Buterin believes cryptocurrency wallets are at present falling quick relating to consumer expertise and safety, key points for the community’s development.

In accordance with Buterin, if pockets safety will not be improved, customers won’t ever be happy with self-managing their property and can want to make use of centralized choices like exchanges.

He additionally stated that interoperability of wallets and networks is necessary because it permits a extra seamless expertise for customers when utilizing cryptocurrencies for on a regular basis transactions equivalent to grocery buying.

Buterin stated:

“I’ve cash on my scroll and I need to pay for my espresso. You promote me espresso, however I am solely set as much as obtain cash on Taiko. What do I do?”

As one technique to remedy this conundrum, he proposed the idea of a “receiving pockets”. Such wallets will assist nearly all of layer 2 networks and can have the ability to consolidate funds asynchronously.

An alternative choice is to develop a cross-L2 bridging system in order that the sender’s pockets can mechanically switch funds to the correct vacation spot.

privateness

One other key problem that threatens Ethereum’s success as a go-to community for common customers is the shortage of privateness concerning particular person transactions.

Buterin believes that simply traceable public data of transactions would discourage individuals from utilizing cryptocurrencies of their every day lives.

He made some recommendations concerning the usage of stealth addresses, however admitted that privateness issues stay a giant drawback and that there aren’t any simple options in sight.