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U.Today - Vitalik Buterin, a co-founder of the second-largest blockchain Ethereum and its frontman, has published a blog post where he proposes making several key modifications to the Ethereum Layer-1 chain to let it mirror some of Bitcoin’s finest points.
In this context, he revealed what he believes to be one of the best things about Bitcoin.
"One of best things about Bitcoin": Vitalik Buterin suggests simplifying Ethereum
In the blog post published today, Vitalik Buterin stressed that it is vitally important to simplify the Ethereum protocol, adding to it the simplicity of Bitcoin. He gave a brief recap of how Bitcoin works, saying that blocks on that chain are connected by a hash and verified by proof of work. Each block contains transactions, which spend coins.“Even a smart high school student is capable of fully wrapping their head around and understanding the Bitcoin protocol,” Buterin stated, “A programmer is capable of writing a client as a hobby project.”
He also mentioned this simplicity of BTC in his X thread where he shared the link to the blog, and he called for bringing those “Bitcoin benefits” to Ethereum: “One of the best things about Bitcoin is how simple it is. This simplicity has lots of benefits. Let’s bring those benefits to Ethereum.”
In short, Buterin proposes simplifying Ethereum’s Layer 1 to make it run with the simplicity and all the consequential benefits of Bitcoin. He wants to lower Ethereum’s maintenance costs, minimize bugs on the blockchain and expand participation in protocol development. Buterin highlighted such Ethereum issues as EVM’s 256-bit architecture and precompiles, calling them over-optimized for outdated use cases.
It will be worth it in long term, Buterin insists
In his blog post, he also mentions the Ethereum 2025 road map and the Pectra upgrade. The latter intends to increase Layer-2 data availability 10x, while Buterin states that if scalability, security and decentralization get a major boost on Layer 1, this would make Ethereum much more resilient and attractive for users and developers.Buterin stressed that in the short term, benefits of the changes proposed by him “do not appear immediately.” However, “in the long term, it will be worth it.” He suggested adding those modifications over the next five years.