Ethereum Co-Founder Unveils His New Vision For Ethereum
Ethereum's Vitalik Buterin reveals a plan to lower fees and improve privacy, making the network more user-friendly and efficient.
The Co-founder of Ethereum, Vitalik Buterin recently unveiled his new vision for Ethereum, focusing on scalability and privacy. He mentioned that the biggest challenge for Ethereum is high fees, This has limited user access and mostly favored financial apps. Buterin suggested using rollups to process transactions more efficiently and cheaply. Rollups like optimistic and zero-knowledge can handle many transactions at lower costs.
Another innovation is account abstraction, simplifying account and transaction management to encourage new users and app development. Light clients are also in development to ease network interaction without needing full nodes.
A significant breakthrough is the practical use of zero-knowledge proofs (ZKPs). ZKPs offer enhanced privacy and scalability by validating transactions without exposing details. Buterin's plan aims to make Ethereum more accessible and versatile, paving the way for broader use and innovative applications.
