Ethereum Co-Founder Vitalik Buterin shared a post on the social media platform X, expressing positive feedback on the recent advancements within the Ethereum ecosystem.
Vitalik Buterin noted that Ethereum has made notable strides in several important areas, including reducing transaction fees on Layer 2 networks to below $0.01. He specifically highlighted the progress of Optimism and Arbitrum, two EVM-compatible Layer 2 networks, which have reached the initial stage of development.
Additionally, the cross-layer 2 wallet user experience has seen substantial improvements, such as the elimination of the need for manual network switching, though there is still room for further enhancement. He also mentioned that zero-knowledge tools have become more powerful and mature, making application development easier.
He also pointed out that second-generation privacy tools, such as 0xbow—a decentralized finance platform aimed at ensuring regulatory compliance—are beginning to emerge. The ecosystem for identity, reputation, and credentials has grown in capability and is increasingly being utilized.
Advances in STARK technology enhance both long-term security and decentralization prospects. The roadmap for account abstraction and the endgame of block construction has become more defined, focusing on options like FOCIL + APS versus multi-proposer models. Additionally, staking decentralization remains stable, countering the notion that Proof-of-Stake (PoS) is more centralized than Proof of Work (PoW). Vitalik Buterin concluded by emphasizing that these foundational aspects of Ethereum are currently very strong.
Ethereum has gotten stronger:
* Under $0.01 txfees on L2
* Two EVM L2s (@Optimism @arbitrum) now at stage 1
* Cross-L2 wallet UX has improved a lot (eg. no more manually switching networks), though still a long way to go
* Much more powerful and mature ZK tooling making life… pic.twitter.com/4jQGeZ3qEA
— vitalik.eth (@VitalikButerin) August 22, 2024
Vitalik Buterin Applauds Adoption Of ERC-7683 By Optimism And Outlines Next Steps For Ethereum
The post was made in response to the recent update from the interoperability protocol Across, which announced that Optimism has adopted the ERC-7683 standard for cross-chain intents, co-authored by Across to enable high-speed transfers across the Superchain.
Vitalik Buterin further expressed enthusiasm for the increasing support for ecosystem-wide standardization in asset transfers. He outlined the next steps, which include standardizing chain-specific addresses, chain-specific ENS, and ERC-3668 light clients.
The post Vitalik Buterin: Ethereum’s Latest Advances Strengthen Its Fundamentals appeared first on Metaverse Post.
