Yesterday's article provided a rough overview of some recent developments in Ethereum. Some of these details are worth delving into and learning about, as understanding them can give us a clearer view of the general direction Ethereum is heading in the future.
Today, I will share three aspects of Ethereum's progress.
- Ethereum Interoperability Layer (EIL)
Recently, a new concept proposed by the Ethereum Foundation regarding the unification of all Ethereum Layer 2 (L2) scaling solutions was published on the cutting-edge research site ethresear.ch, known as the Ethereum Interoperability Layer (EIL).
Interoperability refers to allowing users to initiate an operation on any Ethereum Layer 2 solution that can be executed both on the main chain and on other Layer 2 solutions.
In the current Ethereum Layer 2 ecosystem, when a user has funds only on Layer 2 solution A (like Arbitrum) but wishes to operate on Layer 2 solution B (like Base) (for example, to purchase an NFT on Base), they must first transfer the funds from A to B through a cross-chain operation before proceeding with the operation on B.
This process requires a cross-chain operation.
If this cross-chain operation is done through a third-party bridge, it carries inherent security risks; if done through a native bridge, there may be some delays. In short, it is either troublesome or time-consuming.
However, with EIL, users can directly initiate the purchase action on A, and the system will help them buy the NFT on B. Users no longer need to perform a cross-chain operation.
Thus, EIL can abstract the entire Layer 2 ecosystem experience into operating on a "single" chain.
This not only enhances user experience but also provides a form of "unification" for the liquidity of the entire Layer 2 ecosystem—allowing users to no longer feel the fragmentation of liquidity between different Layer 2 solutions.
To some extent, this concept could replace the existing cross-chain bridges between Layer 2 solutions, allowing the entire Ethereum network, along with all Layer 2 solutions, to form a network with super liquidity.
- Ethereum's Privacy
Privacy has always been a topic of concern in the crypto ecosystem. However, the understanding of privacy has different emphases at different stages.
Recently, there are two popular categories of privacy technology:
One is privacy technology represented by zero-knowledge proofs, and the other is privacy technology represented by fully homomorphic encryption.
Privacy technology represented by zero-knowledge proofs (ZK) is increasingly playing a role in simplifying the verification of the Ethereum mainnet using privacy technology, thereby improving the performance of the Ethereum mainnet.
For example, in previous articles, we shared how the Brevis project significantly shortened Ethereum block verification time using zero-knowledge proofs, leading to performance improvements.
In addition to Brevis, there are other projects (like Succinct and Zkysnc) that have recently made significant breakthroughs in this area. Their main breakthrough lies in achieving the verification of mainnet blocks at a lower cost (in terms of GPU investment). According to relevant data, based on their current progress, it is possible to run Ethereum zero-knowledge proof verification nodes with less than $100,000.
I believe that with further technological advancements, this cost will significantly decrease in the future, and performance will greatly improve.
On the other hand, privacy technology represented by fully homomorphic encryption (FHE) has recently attracted attention due to the progress of the ZAMA project.
FHE technology can be summarized as enabling transaction privacy. ZAMA is not a new blockchain but a privacy protocol layer built on top of Ethereum.
In the current Ethereum network, when user A transfers an amount to user B, we can immediately see A's address, B's address, the token transferred, and the amount in the browser.
This is very unfriendly for users, especially those with commercial purposes.
After using the ZAMA protocol, the situation changes.
In the browser, we can only see that a transaction has occurred, but we cannot see the addresses of A and B, the tokens transferred, or the amount transferred.
Therefore, with the continuous advancement of such projects, we will soon see Ethereum meeting privacy protection needs in commercial scenarios.
- Improving Performance Without Compromising Decentralization
Improving performance in the Ethereum network has never been an easy task. The biggest challenge lies in how to enhance performance without compromising decentralization, rather than simply improving one or more metrics to directly boost performance.
Take the commonly used metric, Gas Limit, for example; if one simply wants to improve performance, they could just increase the Gas Limit. However, doing so would increase block size, necessitate the use of higher-performance node servers, gradually raise the cost of block production, and elevate the entry barrier to the network, ultimately sacrificing decentralization.
Thus, Ethereum has always been very cautious and slow in improving network performance.
Until recently, thanks to the development of zero-knowledge proofs and related technologies, the cost of block verification has significantly decreased without affecting block time, which has given Ethereum the confidence to accelerate progress in this area.
"Blue Fox" envisioned Ethereum in the next 5-10 years in a few key metrics that I generally agree with, and I have extracted some of them to share:
- "L1 TPS 10,000; L1+L2 TPS 1,000,000";
- "The era of mobile verification, a more decentralized Ethereum";
- "Hundreds of L2 application chains processing over hundreds of billions of transactions monthly";
- "Achieving quantum-resistant Ethereum";
- "The liquidity fragmentation between L1 and L2 is basically resolved, and the value capture issue is no longer a concern."
Reference link:
https://x.com/lanhubiji/status/1991821736803979773?s=20
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