Ethereum Founder Thinks Synchronous Atomic Composability is Overrated

Published 20/06/2024, 16:40
Ethereum Founder Thinks Synchronous Atomic Composability is Overrated
ETH/USD
-

Coin Edition -

  • Vitalik Buterin says synchronous atomic composability is highly overrated.
  • Buterin does not see the implementation as a crucial feature for cross-L2 transactions.
  • The Ethereum co-founder highlighted users’ most crucial interests in L2 features.

Ethereum co-founder Vitalik Buterin argues that synchronous atomic composability is highly overrated. Buterin stated this in a recent post on X (formerly Twitter), highlighting that it is not among the most crucial features desired by crypto users for cross-L2 transactions.

According to Buterin, crypto users’ fundamental L2 features include the ability to make cross-chain payments and to send coins across blockchains when using dApps from a different chain. The blockchain expert described these issues as practical UX issues that synchrony cannot solve.

Addressing these as UX problems, Buterin explained how blockchain developers can remedy the fundamental issues he identified. The Ethereum co-founder proposed widespread adoption of the ERC-3770 token standard. He noted it would allow the chain to be part of the address, making an address a self-contained “how do you pay me” identifier.

Buterin also suggested addressing the issue with a cross-L2 exchange protocol, like the ERC-7683, so that users can execute cross-chain sends programmatically without needing to determine which specific intermediaries to trust and which APIs to connect to. He also identified a wallet integration solution where sending cross-L2 is done by putting the recipient’s ERC-3770 address into the same text box used for regular sends.

Meanwhile, Buterin also noted that solving technical problems can make the overall solution much more efficient, especially by making cross-chain swap markets more accessible to liquidity providers. He cited improvements that have reduced withdrawal times from one week, as seen with optimistic rollups, to one hour for ZK rollups today, to one slot in ideal ZK-rollups with proof aggregation. However, he thinks there are significant unclaimed gains that do not require achieving synchrony.

The post Ethereum Founder Thinks Synchronous Atomic Composability is Overrated appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.