Ethereum co-founder Vitalik Buterin highlighted the need for three major technical “transitions” to ensure the success and longevity of Ethereum. According to Buterin, these transitions include layer-2 scaling, wallet security, and privacy-preserving features. Failure to achieve these could lead to a shift in focus towards centralized workarounds.
Buterin pointed out that without sufficient scaling infrastructure, transaction costs would be prohibitively high, making mass-market adoption unlikely. The move towards smart contract wallets has increased the complexity for users, necessitating improvements in wallet security. This issue is evident in the Ethereum Virtual Machine (EVM)-equivalent and non-equivalent layer-2s. Wallet security will also need to encompass data protection, especially with the rise of zero-knowledge rollups.
The privacy aspect of these transitions refers to improving identity, reputation, and social recovery systems. Implementing stealth addresses could potentially resolve this. Buterin acknowledges that successfully achieving these three transitions will be challenging due to the intense coordination required among them. The objective is to build infrastructure that enhances user experience without sacrificing the crucial components of scalability, wallet security, and privacy.
While some argue that these transitions could weaken the “one user – one address” model, complicating transaction execution, achieving them remains vital for Ethereum’s future. It demonstrates that the focus is not just on technical feasibility but on genuine accessibility for everyday users. There is a growing recognition that the crypto community needs to rise to the challenge of these technical and practical hurdles in order to foster widespread adoption and acceptance in the long run.
Source: Cointelegraph
