Vitalik Buterin, co-founder of Ethereum ETH -2.57%, has expressed his optimism for the cryptocurrency world in 2023. In a tweet on December 31, Buterin cited reaching the “basic rollup scaling” milestone outlined in the Ethereum roadmap as a key reason for his optimism. This milestone includes the rollout of the Ethereum Improvement Protocol (EIP) 4884, which had previously been removed from the upcoming Shanghai upgrade set for March.
BTC -2.13%-is-also-a-social-system-designed-by-humans/">Buterin also noted that this milestone would mean rollups partially taking off “training wheels,” referring to the three stages of the “trust model” described in a November 22 post on the Ethereum Magicians forum. Stage 0, or “full training wheels,” requires all transactions to be on-chain and allows users to withdraw their assets without the operator. Stage 1, or “limited training wheels,” requires a transaction verification method such as a fraud proof or validity proof, along with an overriding security council to oversee the process. Stage 2, or “no training wheels,” requires two distinct fraud provers or two distinct validity provers, and upgrades at this stage must have a delay of more than 30 days.
In addition to the rollout of EIP 4884, Buterin sees a bright future for crypto in terms of scaling, privacy, user experience, and the security of user accounts. He also believes that payments and decentralized finance (DeFi) will play a significant role in this future, as well as new organizational paradigms powered by decentralized autonomous organizations (DAOs).
Overall, it seems that Buterin is confident that the cryptocurrency industry will continue to make strides in the coming year, with Ethereum leading the way in terms of scaling and technological advancement.
