Vitalik Buterin, the co-founder of Ethereum, has recently shared a groundbreaking vision for Ethereum’s future, highlighting innovative approaches to wallet securities, interoperability between Layer 1 and Layer 2, and privacy.
In March, Vitalik proposed the utilization of multisig wallets, specifically social recovery wallets, as a reliable and user-friendly solution to enhance fund security. The proposed workflow for cross-chain social recovery wallets revolves around a central keystore location and multiple wallets in different locations. Wallets can update their local view of the verification key by reading the keystore during the transaction verification process.
To enable this functionality, Buterin emphasizes the need for cross-chain proofs, suggesting options such as ZK-SNARKs, Verkle proofs, or a custom-built KZG solution for optimal performance.
In the long term, Buterin suggests integrating aggregation protocols into the ERC-4337 ecosystem to minimize costs.
These protocols would generate aggregate proofs while bundling UserOperations submitted by users. To reduce latency, Buterin advises optimizing Layer 2 solutions to allow direct reading of Layer 1 state or state root. By doing so, proof space can be saved, enhancing the overall efficiency of the Ethereum network.
Buterin envisions wallets not only on Layer 2 solutions but also on systems with lower levels of connection to Ethereum, such as L3s or separate chains that synchronize state roots and align with Ethereum’s reorganizations and hard forks.
However, he emphasizes the importance of placing keystores either on Layer 1 or on high-security ZK-rollup Layer 2 solutions, with Layer 1 offering simplicity and potential cost advantages.
While prioritizing privacy preservation may introduce additional challenges, Buterin encourages the Ethereum community to move towards privacy-preserving solutions and ensure that any proposed developments are forward-compatible with maintaining privacy.
With these visionary proposals, Buterin aims to propel Ethereum’s evolution by addressing crucial aspects of security, scalability, privacy, and interoperability.
As Ethereum continues to innovate and adapt, these advancements hold the potential to revolutionize various industries and solidify Ethereum’s position as a leading blockchain platform.
Also Read: Vitalik Buterin Says ZK-EVMs Will be Crucial to Ethereum
