Ethereum

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DeFi

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<div class="intro-text">
 Ethereum co-founder Vitalik Buterin is advocating for enhanced transaction speeds on the blockchain, presenting several potential solutions to boost the network’s scalability and user experience.&nbsp;
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In a<a style="color: #0000ff;" href="https://vitalik.eth.limo/general/2024/06/30/epochslot.html?data=7238940crypto88973news7387478" rel="noopener noreferrer nofollow"> recent blog post</a>, Ethereum co-founder Vitalik Buterin acknowledged that while Ethereum has made significant strides over the past five years, there is still room for enhancing the user experience.&nbsp;
Buterin proposed several methods to accelerate transaction speeds, including single-slot finality (SSF), which would simplify the network’s current slot and epoch architecture.
Buterin suggested that SSF, inspired by the Tendermint consensus but adapted for Ethereum, would enable faster block finality by ensuring each new block is finalized before the next one is proposed. He highlighted that while the current Gasper consensus mechanism is effective, it is complex and has a 12.8-minute finality time. However, this requires overcoming technical hurdles, including managing increased validator messages.
Another approach Buterin suggested is using “Rollup Preconfirmations,” which delegate transaction confirmations to Layer 2 protocols like rollups. These protocols leverage Ethereum’s security while processing transactions at a larger scale and faster speed. This division of labour between Layer 1 and Layer 2 allows Ethereum’s base layer to concentrate on core functions such as censorship resistance and stability, while L2 solutions handle rapid transaction processing.
Buterin also highlighted ongoing research into blockchain scalability through mechanisms like BLS aggregation and ZK-STARKs, as well as innovations like Orbit SSF, which offer promising avenues for further enhancement.
<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/new-layer-2-solution-taiko-goes-live-on-ethereum-vitalik-buterin-proposing-first-block/" rel="noopener noreferrer nofollow">The launch of Taiko on the Ethereum mainnet on May 27</a> marks a significant milestone, adding momentum to these advancements. Taiko, a new layer-2 scaling solution, uses Ethereum block validators to sequence transactions, inheriting security and liveness from the Ethereum base layer.&nbsp;
Taiko’s development, backed by $37 million in funding from key investors such as MH Ventures, OKX Ventures, and GSR.io, sets a new standard in blockchain scalability and security. Notably, Vitalik Buterin proposed the first block on Taiko, underscoring its potential impact on Ethereum’s future.
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The post <a href="https://defi-planet.com/2024/07/vitalik-buterin-suggest-new-solutions-for-faster-transaction-speeds-on-ethereum/" rel="noopener noreferrer nofollow">Vitalik Buterin Suggest New Solutions for Faster Transaction Speeds on Ethereum</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Vitalik Buterin Suggest New Solutions for Faster Transaction Speeds on Ethereum

DeFi Planet

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