Ethereum

Merge

DeFi

Block

Planet

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 As Ethereum celebrates two years of successfully transitioning from Proof-of-Work (PoW) to Proof-of-Stake(PoS) and completing the<a style="color: #0000ff;" href="https://defi-planet.com/2022/09/the-merge-is-complete-ethereum-now-runs-on-proof-of-stake/" rel="noopener noreferrer nofollow"> Merge</a> phase of its development, its co-founder, Vitalik Buterin, has suggested that this new consensus mechanism can be improved.
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<a href="https://vitalik.eth.limo/general/2024/10/14/futures1.html" rel="noopener noreferrer nofollow">In a blog post on Monday</a>, October 14, Buterin identified key areas that need addressing to reduce centralization risks and enhance Ethereum’s network performance. According to him, one key focus is the push for single-slot finality, which aims to reduce the current block finalization time from 15 minutes to just 12 seconds—or potentially even four seconds. This change would greatly enhance the user experience for both Layer 1 and Layer 2 rollups, while also increasing the efficiency of DeFi protocols.
Buterin outlined several strategies to facilitate these enhancements. One of his proposed approaches is “brute force” improvements in signature aggregation, potentially using ZK-SNARKs to manage millions of validators per slot. He also introduced the idea of “orbit committees,” which would consist of randomly selected medium-sized groups responsible for finalizing the chain while ensuring strong security measures are in place.
Another critical area Buterin addressed is lowering the barrier to entry for staking. He proposed reducing the solo staking threshold from 32 ETH to just 1 ETH, allowing more users to participate.
<blockquote>
 “Poll after poll repeatedly shows that the main factor preventing more people from solo staking is the 32 ETH minimum. Reducing the minimum to 1 ETH would solve this issue, to the point where other concerns become the dominant factor limiting solo staking,” 
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Buterin wrote in the blog post.
Buterin also suggested a two-tiered staking model to further decentralize staking, creating distinct classes of stakers based on deposit requirements. This approach aims to maintain economic security while encouraging wider participation. Although no specific timeline was mentioned, Buterin stressed the need for ongoing improvements to keep Ethereum’s protocol simple yet functional.
Meanwhile, in August, Buterin<a style="color: #0000ff;" href="https://defi-planet.com/2024/08/vitalik-buterin-outlines-strategy-to-achieve-seamless-cross-chain-interoperability-for-ethereum-l2-networks/" rel="noopener noreferrer nofollow"> shared</a> his vision for achieving seamless cross-chain interoperability among Ethereum Layer 2 networks. He expressed confidence that the current interoperability challenges within the Layer 2 ecosystem would soon be resolved, resulting in a smoother user experience across the entire Ethereum ecosystem. He emphasized the growing momentum to make this vision a reality.
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The post <a href="https://defi-planet.com/2024/10/vitalik-buterin-proposes-next-steps-for-ethereums-proof-of-stake-evolution-advocates-for-faster-block-finality/" rel="noopener noreferrer nofollow">Vitalik Buterin Proposes Next Steps for Ethereum’s Proof-of-Stake Evolution; Advocates for Faster Block Finality</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Vitalik Buterin Proposes Next Steps for Ethereum’s Proof-of-Stake Evolution; Advocates for Faster Block Finality

DeFi Planet

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