As a seasoned crypto investor with more years in this wild ride than I care to count, I can’t help but feel a sense of admiration for Vitalik Buterin and his relentless pursuit of genuine decentralization in Ethereum’s scaling solutions. His commitment to cryptographic trust over traditional multi-signature methods is nothing short of inspiring.
Vitalik Buterin, a key figure in the creation of Ethereum, has unveiled a fresh standard for recognizing layer-2 scaling technologies, underscoring the importance of moving towards more decentralized structures.
In a post dated September 12th on X, Buterin announced that from the following year, he will solely emphasize layer-2 networks that meet or exceed “stage 1+” on his decentralization rating system. He made it clear that regardless of any investments made by him or personal connections, only those networks reaching stage 1 will be considered acceptable.
Vitalik Buterin’s emphasis on layer-2 decentralization follows a systematic process, marked by distinct phases. A number of zero-knowledge rollup initiatives are striving to achieve “Phase 1” by year-end. To enter this phase, layer-2 solutions must incorporate an active fraud-proof or validity-proof system and a strict security council.
To be more precise, the council needs to have a minimum of six out of the eight necessary signatures, along with an outside group that prevents ties. Moreover, any updates should be delayed for a period of seven days.
Vitalik Buterin’s stance arises from his conviction that the time of “enhanced multisignatures” is waning, and instead, cryptographic trust will become the norm. He’s enthusiastic about the strides made by several ZK-rollup development teams, who seem to be on schedule for their initial stage completion by the end of this year.
As an analyst, I’d like to share my insights on Vitalik Buterin’s decentralization scale introduced in 2022. This three-stage model serves as a roadmap for blockchain projects, guiding them towards greater autonomy and security.
Vitalik Buterin’s focus on these standards underscores his dedication to making Ethereum’s scalability strategies genuinely decentralized. This emphasis highlights the significance he places on cryptographic reliability over traditional multi-signature techniques.
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2024-09-12 12:04