Ethereum
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Researcher Justin Drake has proposed a solution for the scalability issues faced by Layer-1 blockchains. This sharing has sparked curiosity within the Ethereum community regarding ETH 3.0. Notably, Doug Colkitt, the founder of Ambient Finance, highlighted the potential inclusion of a new consensus model and a native zero-knowledge Ethereum Virtual Machine (zkEVM) in this update. According to Colkitt, these developments could lead to the complete removal of gas limits, enabling nodes to process large blocks solely through SNARK verification. In this scenario, scalability may only be limited by bandwidth.
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Colkitt: Native zkEVM Could Create Significant Changes
ETH 3.0 and Community Reactions
Colkitt: Native zkEVM Could Create Significant Changes
Colkitt believes that adding zkEVM to Ethereum would represent a “major” update. This innovation could eliminate the need for Layer-2 solutions, bringing greater scalability to Ethereum. If rumors prove true, a revolutionary change could occur within the Ethereum ecosystem.
Discussions regarding Ethereum’s scalability issues continue. In an interview with Cointelegraph, Consensys CEO Joe Lubin mentioned that different approaches are being evaluated to address these problems. Lubin noted that although they previously abandoned the idea of execution sharding, new paths are being explored with zero-knowledge and optimistic approaches.
Lubin expressed that these approaches could provide Ethereum’s Layer-1 with more processing power, enabling it to handle millions of transactions per second. However, it may take several years for this vision to be fully realized.
ETH 3.0 and Community Reactions
Rumors about ETH 3.0 have raised questions among some community members. Major updates are typically announced months in advance and filed as Ethereum Improvement Proposals (EIPs). However, Drake’s sharing has not provided clarity on this matter.
As Ethereum continues its efforts to achieve long-term goals, the community closely monitors such developments.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
