Vitalik Buterin, the Ethereum founder, demanded an open decentralized protocol for transferring digital assets from one Layer 2 to another.
After the Dencun upgrade, which took place on March 13, Vitalik Buterin seeks an open decentralized protocol to make assets transfer faster between different Layer 2 blockchains. According to Buterin. Layer-2 verse isn’t enough and requires updates to enhance user experience.
Vitalik Buterin Wants an Open Decentralized Protocol
On May 21, Buterin shared his views on user experience (UX) problems with the Ethereum (ETH) Layer-2 blockchain. To make the asset movement quicker between layer 2 and other blockchains, an open decentralized protocol is required, Buterin tweeted.
At the press time, ETH was trading at $3,665.26, after a surge of 18.04% in a day with a market cap of $440,192,735,963 and $38,505,162,367 in 24-hour volume.
We need an open decentralized (operator-free, governance-free) protocol for quickly moving assets from one L2 to another, and for that to be integrated into wallets' default sending interface.
— vitalik.eth (@VitalikButerin) May 21, 2024
Get the basics done before getting too committed to any fancy toys.
“Our biggest UX problem is, the L2-verse doesn’t feel enough “like a unified Ethereum”. It’s much better than a year ago, but still far from perfect.” he added.
Algorithms that worked better on Layer 1 are hard across Layer 2 mainly regarding token transfer, changes to smart contract wallets, and Ethereum Name Service (ENS).
Buterin Shared Ethereum (ETH) Roadmap Update
On May 17, Buterin published a new article outlining the Ethereum blockchain’s improvement in terms of permissionlessness and decentralization. He shared a rare update on the Dencun upgrade on March 13.
The upgrade enhanced data availability through proto-danksharding (EIP-4844), a way to add cheaper data to blocks, and reduced the costs of layer-2 transactions.
The Verge I Source: Vitalik Buterin Blog
In the same way, the team behind the ETH blockchain planned to implement The Verge and Purge to lower node costs and simplify Ethereum Virtual Machine (EVM). The Verge integrates stateless clients with Verkle trees to lower node costs and Purge simplifies the EVM.
Justin Drake’s Shift to EigenLayer
During the upgrade and improvement process, researcher Justin Drake stepped out from the Ethereum Foundation and joined hands with the Eigen Foundation. Promoting transparency in the crypto community was the main reason behind Drake’s move.
On May 19, Drake took to X to share his shift to EigenLayer.
I recently became an advisor to the EigenFoundation. I feel the community deserves transparency so here is an extended disclosure 🙂
— Justin Ðrake (@drakefjustin) May 19, 2024
1) The advisorship comes with a significant EIGEN token incentive which could easily be worth more than the combined value of all my other assets…
Following Drake, Dankrad Feist another researcher from Ethereum Foundation moved to Eigen Foundation on May 21. The researchers at the Eigen Foundation will be accountable for researching staking risks, sharing insights, and bouncing ideas to compete.
