Vitalik: Adhering to the route mainly through L2 expansion, we should clearly consider the economics that can maintain ETH appreciation
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PANews|Jan 24, 2025 05:18
Ethereum co-founder Vitalik Buterin has released a latest blog post titled "Expansion of Ethereum L1 and L2 in 2025 and Beyond," pointing out that L2 currently faces two main challenges: 1. Expansion: Our blob space is almost unable to cover current L2 and use cases, far from sufficient to meet future needs. 2. The challenge of heterogeneity: Each shard is created by different participants, and the infrastructure views it as a different chain, often following different standards, which translates into a combination of developers and users and a user experience issue.
Buterin stated that abandoning L2 would sacrifice too many benefits of Ethereum's current social structure, so we should stick to the current path, mainly through L2 extensions, but ensure that L2 truly fulfills the promises they should have made. This means that: 1. L1 needs to accelerate the expansion of blob; L1 also needs to moderately expand EVM and increase gas restrictions to handle the activities it will continue to have even in a world dominated by L2; 3. L2 needs to continue to improve its security; L2 and wallets need to accelerate improvements and standardize interoperability. 5. L2 deposit and withdrawal times need to become faster; As long as the basic interoperability requirements are met, the heterogeneity of L2 is good; 7. Clear consideration should be given to the economics of ETH, ensuring that it can continue to appreciate even in an L2 dominated world, ideally addressing various value appreciation models. The article mentions that with the release of Pectra in March, the plan is to increase it to 6 blob per slot.
Regarding the economics of ETH, Buterin suggests adopting a multi pronged strategy that encompasses all major potential sources of value for ETH as a Triple Point asset (value storage asset, cash flow asset, consumable asset). Some key points of this strategy may include: 1. Broad agreement to establish ETH as the primary asset of the larger (L1+L2) Ethereum economy; 2. Encourage L2 to support ETH with a certain percentage of fees; 3. Support partial paths based on rollup; 4. Increase the number of blob, consider setting a minimum blob price, and consider blob as another possible source of income.
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