Vitalik Buterin, co-founder of the Ethereum network, identifies Layer-2 scaling solutions as a key element for the platform’s advancement. Enabled by the Layer-2 upgrade, the Dencun, which dramatically brought down transaction fees on dApps, he called for development efforts now.
In his opinion, the previous decade has been all about Ethereum’s internal development; however, the world impact is to come during the next one. The upgrade on Dencun led to a bridge that aims to facilitate two-layer Layer-2 improvements in scalability, privacy, and security.
This shift does not diminish the significance of Layer-1, which will still be the base upon which Layer-2 may be pinned. Nevertheless, a mindset shift would be pivotal for Layer-1 development to transition into a deceleration phase, as this is a critical step towards network stability.
However, Buterin stresses the progress made in the Layer-1 area, among which zero-knowledge-proofs (ZKPs) are recent inventions that make it possible to scale and provide users with privacy. Those tools are examples of how it may become easier to create dApps with Layer-2.
According to him, developers have to be proficient in Layer-2 mechanisms and modern development infrastructure to address challenges related to speed, security, and privacy.
In this case, Ethereum will only achieve its goal to migrate from the old internet and blockchain paradigms to the new ones if Buterin’s theory holds true and propels Ethereum to significantly impact the internet and traditional finance.
The recent rapid fee reduction across platforms like zkSync Era, StarkNet, Base, and Optimism is creating more room for growth in the number of people interacting with Ethereum.
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