Vitalik Buterin Proposes Measures to Simplify PoS Design, ETH Surges

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Vitalik Buterin, the co-founder of Ethereum, has proposed measures to reduce the load on the Ethereum blockchain and simplify its proof-of-stake (PoS) consensus.

The proposal aims to decrease the number of signatures validators must make to maintain the network’s operation, ultimately reducing the overall load on the Ethereum blockchain.

Ethereum Co-Founder Proposes Adjustments

Ethereum’s attempt to achieve decentralization and involve regular users in staking by supporting around 895,000 validators has led to significant technical challenges.

The need to process a large number of signatures, approximately 28,000 per slot, imposes a high load on the network. The approach has drawbacks, including limitations on quantum resistance, complex forking, and the need to scale signatures through zero-knowledge proofs (SNARKs).

To address these issues, the Ethereum co-founder has proposed reducing the number of signatures per slot to a more moderate level, aiming for technical simplification and enhanced quantum resistance.

The current approach of supporting around 895,000 validators on Ethereum, while aiming for decentralization and broad participation, falls short of fully enabling ordinary individuals to participate due to the high minimum requirement of 32 ETH to become a validator.

Hence, Buterin proposes transitioning to a moderate solution with approximately 8,192 signatures per slot, reducing the current load of 28,000 signatures.

Reducing the number of signatures per slot to around 8,192 on Ethereum, as proposed by Buterin, would enable major technical simplification, enhance the chain’s quantum resistance, and maintain a significant total slashable ETH at around 1-2 million ETH. Slashing, a mechanism to enforce good validator behavior, would remain effective with this adjustment.

Buterin suggests three potential approaches to achieve this: relying on decentralized staking pools, implementing a two-tiered system with “heavy” and “light” staking, and introducing rotating participation with accountable committees.

Ethereum Looks to Enhance Protocol Development

The proposed solutions aim to reduce the digital signature load to a manageable level. The key advantage would be setting the future signature load at a manageable level, making protocol and infrastructure development much easier.

According to Buterin, the future load of the Ethereum protocol becomes a known factor, allowing for potential adjustments through hard forks when developers are confident that technology has improved enough to handle a larger number of signatures per slot with the same ease.

Buterin cautioned in May about the risks associated with “stretching” Ethereum’s consensus beyond its fundamental roles of validating blocks and ensuring network security.

Meanwhile, Ethereum has gained attention and is experiencing a surge. Over the last 24 hours, the ETH is up 4.4%, trading at $2,391.24 at the time of writing.

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Source link Crypto Potato

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