In a strategic move that could determine the future of Ethereum’s Proof-of-Stake (PoS) consensus mechanism, founder Vitalik Buterin has unveiled a proposal to streamline and simplify the network. The plan aims to address the heavy burden on the Ethereum blockchain and represents an important milestone in Ethereum’s development.
Too many validators, too many burdens
Despite Ethereum’s impressive count of approximately 895,000 validators, designed to promote decentralization and public participation in staking, the network struggles to handle an impressive 28,000 subscriptions per slot. This excessive burden not only poses technical challenges, such as limited quantum resistance and the need for complex scaling solutions, but also poses a financial hurdle, requiring at least 32 ETH for validators, making participation out of reach for many.
What does Vitalik propose?
In response to these challenges, Buterin proposes a solution: reducing the number of validator signatures to a more manageable 8,192 per slot. This strategic adjustment aims to simplify the PoS system, improve quantum resilience and ensure that a significant portion of ETH continues to be accompanied by robust security measures.
A suggestion for PoS simplification: create a design that requires only 8,192 signatures per slot (even with SSF), which will make implementing consensus significantly simpler and easier.
-vitalik.eth (@VitalikButerin) December 27, 2023
Buterin’s proposal presents three innovative solutions to address the burden of digital signatures:
- Decentralized Staking Pools: A visionary approach to evenly distribute the load across the network by implementing a decentralized stake pool system.
- Two-layer attack system: A two-tiered strategic framework designed to streamline the validation process, improve efficiency, and improve overall network performance.
- Rotating participation in responsible committees: A dynamic solution that alternates participation between relevant authorities, with a flexible strategy to effectively manage the volume of digital signatures.
Buterin emphasizes the importance of establishing a manageable signature load and emphasizes the importance of smooth and predictable future development of Ethereum. He advises against increasing the number of block subscriptions unless future developers are confident that the technology can handle the load without any problems, in line with his previous warning in May about the potential risks of overloading Ethereum’s core functions.
Don’t overload the Ethereum consensus: https://t.co/07tzyCrZcJ
-vitalik.eth (@VitalikButerin) May 21, 2023
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
