An Ethereum researcher’s social media post sparked speculation about a potential solution for the layer-1 blockchain’s scalability challenges.
On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “ambitious” initiative for Ethereum. Drake said he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpreted as a step toward solving its scalability issues.
Source: Justin Drake
The researcher said his goal was to suggest a strategy to ship a Beacon Chain road map. He is expected to share the proposal at Devcon in Bangkok, Thailand, on Nov. 12.
Community speculates about ETH 3.0
Following Drake’s post, rumors about an ETH 3.0 upgrade circulated among the Ethereum community. On X, Ambient Finance founder Doug Colkitt posted about a rumor that the ETH 3.0 announcement is a “second merge into a new consensus targeting 1-second block times” and a native zero-knowledge Ethereum Virtual Machine (zkEVM).
Source: Doug Colkitt
Colkitt said that if the rumors turn out to be accurate, having a native zkEVM would be a “huge” update:
“The gas limit can be eliminated entirely. Builders can build arbitrarily large blocks since nodes only need to verify the snark. The only scaling limit left would be bandwidth.”
Colkitt expressed optimism that a zkEVM may mean arbitrary scalability and eliminate the need for layer-2 rollups.
Not everyone in the community was on board with the ETH 3.0 speculation. One community member said the rumor was “100% BS,” pointing out that such significant updates would have been signaled months in advance. The community member noted that related Ethereum Improvement Proposals would likely have been filed if such an update were imminent.
Related: Consensys to cut workforce by 20% — CEO outlines decentralization plans
How Ethereum may solve scalability issues
In an interview with Cointelegraph’s Andrew Fenton, Consensys CEO Joe Lubin discussed potential solutions for Ethereum’s scalability.
Lubin said the Ethereum ecosystem could revisit the old concept of execution sharding, potentially using a zkEVM at layer 1 to create identical execution shards:
“The interesting thing about that, that way of using layer 1 wasn’t really possible a few years ago when we discarded the idea of execution sharding, what we needed to do was throw open this divergent exploration and a lot of stuff came back.”
Lubin added that there’s a lot of learning from the development of zero-knowledge approaches and optimistic approaches that could be brought back to the Ethereum layer 1 to “make everything better.”
Lubin also said this could lead to scalability solutions for Ethereum: “You’re just boiling down a giant amount of computation at different layers and amortizing a lot of computation into a single transaction. If you do that every two seconds or less, then you get a lot of transactions per second.”
While Lubin was optimistic that these approaches might lead to Ethereum achieving millions of transactions per second, he acknowledged that full implementation could take several years.
Magazine: We took an ETHSafari to see how crypto is working out in Africa