- Vitalik Buterin has said that blockchain applications need to prove their usefulness, rather than promise that they might be useful in the next 10 years.
- Buterin also said that he expects some Optimistic Rollup projects working on scaling Ethereum today will move to ZK-Rollups because of their “fundamental advantages.”
- Ethereum will need future upgrades to protect itself from quantum computing attacks, but it could be decades before any upgrades occur, he added.
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Buterin reiterated his view that ZK-Rollups are likely to be Ethereum’s top Layer 2 scaling weapon, saying that quantum computing will be an important consideration for future protocols.
Buterin on the future of Ethereum
Vitalik Buterin is optimistic about the future of Ethereum, but he sees huge challenges ahead.
Ethereum creator discussed the protocol’s long-term future in a previous closed-door press conference Build Asia and EthSeoul Today, focus on the important hurdles facing scaling technology, quantum computing, and networking.
Buterin said the next decade will be critical for blockchain technology, and he believes applications will soon need to prove their utility on the open market. “I think the next 10 years is that cryptocurrencies have to transform into something that’s not based on the promise of being useful in the future but is actually useful,” he said. “Because many applications are theoretically promising, but they are simply not feasible due to today’s scaling issues.” He added that if Ethereum completes its “merger” with proof-of-stake and zero-knowledge proof technology takes off, the If the blockchain application doesn’t work, then there’s a good chance that using blockchain “doesn’t make sense” number one.
Elaborating on the scaling issues facing Ethereum, Buterin expressed enthusiasm for the upcoming wave of Layer 2 rollup solutions, arguing that ZK-Rollups based on zero-knowledge proofs will outperform Optimistic Rollups are a superior technique, albeit cunning. “In the long run, ZK-Rollups will ultimately beat Optimistic Rollups because they have these fundamental advantages, such as not requiring a seven-day exit period,” he said before commenting on the difficulties of building ZK-Rollups. “ZK is a difficult technology to build. There are a lot of challenges, and Optimistic Rollup technology is more mature.” Buterin clarified that he remains confident that some Optimistic Rollup projects today will be successful, but expects some to make a shift in the future. “They’re going to do well. But I fully expect that they will eventually move to ZK at some point.”
A “full” Ethereum
Buterin also commented on how “full” ethereum will develop in the future after his recent comments at EthCC in Paris, where he announced that the merged ethereum would be “55% complete.” “After a big project— You know, Merge, Surge, Purge, Verge, Splurge — Ethereum is basically going to be where the protocol doesn’t need to change. Everything can be done on level 2. ”
Buterin added that Ethereum needs to take into account the development of quantum computing sometime in the distant future. “For quantum security, we’ll have to upgrade at some point,” he said, considering moving to “new forms of cryptography” that can resist potential attacks. Crypto skeptics often point out that quantum computing could kill blockchains, but Buterin said it will take some time for crypto builders to change. “We keep Stay in close contact with AI researchers who continue to work on the problem and develop better algorithms,” he said. “But it’s still a long way off, maybe 10, 20 or 30 years from now. ”
Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.