Amazing to see so many major L2s now at stage 1.
The next goal we should shoot for is, in my view, fast (<1h) withdrawal times, enabled by validity (aka ZK) proof systems.
I consider this even more important than stage 2.
Fast withdrawal times are important because waiting a week to withdraw is simply far too long for people, and even for intent-based bridging (eg. ERC-7683), the cost of capital becomes too high if the liquidity provider has to wait a week. This creates large incentives to instead use solutions with unacceptable trust assumptions (eg. multisigs/MPC) that undermine the whole point of having L2s instead of fully independent L1s.
If we can reduce native withdrawal times to under 1h short term, and 12s medium term, then we can further cement the Ethereum L1 as the default place to issue assets, and the economic center of the Ethereum ecosystem.
To do this, we need to move away from optimistic proof systems, which inherently require waiting multiple days to withdraw.
Historically, ZK proof tech has been immature and expensive, which made optimistic proofs the smart and safe choice. But recently, this is changing rapidly. https://t.co/MRqAcqiGre is an excellent place to track the progress of ZK-EVM proofs, which have been improving rapidly. Formal verification on ZK proofs is also advancing.
Earlier this year, I proposed a 2-of-3 ZK + OP + TEE proof system strategy that threads the needle between security, speed and maturity:
https://t.co/Z5N81HiiNi
* 2 of 3 systems (ZK, OP) are trustless, so no single actor (incl TEE manufacturer or side channel attacker) can break the proof system by violating a trust assumption
* 2 of 3 systems (ZK, TEE) are instant, so you get fast withdrawals in the normal case
* 2 of 3 systems (TEE, OP) have been in production in various contexts for years
This is one approach; perhaps people will opt to instead do ZK + ZK + OP tiebreak, or ZK + ZK + security council tiebreak. I have no strong opinions here, I care about the underlying goal, which is to be fast (in the normal case) and secure.
With such proof systems, the only remaining bottleneck to fast settlement becomes the gas cost of submitting proofs onchain. This is why short term I say once per hour: if you try to submit a 500k+ gas ZK proof (or a 5m gas STARK) much more often, it adds a high additional cost.
In the longer term, we can solve this with aggregation: N proofs from N rollups (plus txs from privacy-protocol users) can be replaced by a single proof that proves the validity of the N proofs. This becomes economical to submit once per slot, enabling the endgame: near-instant native cross-L2 asset movement through the L1.
Let's work together to make this happen.
🤖 New EIP: 0000
By:
- Anders Elowsson (@anderselowsson)
-Vitalik Buterin (@vbuterin)
🔗
EIP-0000 proposes a unified multidimensional fee market for Ethereum transactions, allowing users to specify a single aggregate `max_fee` for multiple resources.
Ethereum introduced smart contracts to the world and laid the groundwork for the future we’re building.
Happy 10th birthday to the chain that changed everything, @ethereum.
It was this day 10 years ago, 30th of July 2015, that we changed the world forever.
We were a small team of hackers in an office in Kreuzberg in Berlin and we had just launched the @ethereum network.
The rest is history.
Looking back at the last 10 years, I am excited about
Ten years since the genesis block.
Tomorrow, we're celebrating Ethereum in NYC with @ETHGlobal, @blockchaincap, and @boundless_xyz.
Join us.
The best way to build an L2 is to lean into the L1's offerings (security, censorship resistance, proofs, data avail...) more, and reduce your logic to just being a sequencer and a prover (if based, just a prover) over the core execution.
This is the combination of trust minimization and efficiency that the 2010s enterprise blockchain crew wanted, but was never able to achieve. Now, with Ethereum L2s, you can achieve it. And we've already seen successful examples of the L1's features protecting users' rights if something on the L2 goes wrong.
@VitalikButerin OK so here's a fuller response:
Besides the in-line comments above, I'd like to challenge you to sketch your own alternative scenario to AI 2027, depicting your vision. For example:
--1 page on d/acc technologies and other prep that
My response to AI 2027:
https://t.co/hqqXLM5UZl
The AI 2027 post is high quality, I encourage people to read it at https://t.co/84O5mfN5dh
I argue a misaligned AI will not be able to win nearly as easily as the AI 2027 scenario assumes, because it greatly underrates our ability to protect ourselves, especially given the (pretty magical) technologies that the authors admit will be available in 2029 in their scenario.
4 years later and I finally experienced the benefits of an "L2 secured by Ethereum."
I had ETH stuck on OP Mainnet in @coinbase's web3 mpc wallet for almost 3 years. I was waiting for OP Mainnet support, it never came, and now the product is sunsetting.
I made a last ditch
Good interview from Roman Storm. His trial is coming soon in 10 days.
Privacy of messaging without backdoors is now widely accepted, and many in business and government regularly use tools like Signal.
Given the extremely regular hacks of centralized databases that we see today, improving privacy in other domains (including payments, identity, AI) is not something to be "balanced" against security, it's a necessary _part_ of our security.
I hope 🇺🇸can lead the way in making a more secure world with stronger freedoms and fewer data leaks a reality. The first step is sending a clear signal to developers that this important work is welcome.
#FreeRomanStorm
@WatcherGuru @cz_binance Also worth reiterating thanks for all the support from @sandeepnailwal @CryptoRelief_, who both funded important biomedical infra in India and returned a large portion of to Balvi to expand on its research and dev mission globally.
@WatcherGuru @cz_binance Appreciate your support for keeping humanity healthy and safe from airborne disease @cz_binance!
Vitalik’s in town.
Join us in Cannes for a fireside chat with our crypto GM, @JohannKerbrat, the founder of Ethereum, @VitalikButerin, and the CSO of @offchainlabs, @ajwarner90.
Tune in tomorrow at 7:45pm CEST on Robinhood X and YouTube.
Over the last couple of days, all major @ethereum clients signalled that they consider a move to 45M gas per block safe.
Please adjust your validators accordingly.
Please update to the new releases to get the improvements and fixes that clients need to safely move to 45MGas ⬇️
Geth v.1.16.0 finally ships the PBSS based archive node, you can have a geth archive node in ca. 1.9TB (down from 20+TB)🚀🚀
Queries against historical states (What was my balance at block X) are possible, proofs against historical states are not (yet)
Great work by @Gary_Rong
