SUMMARY

• Vitalik Buterin identified key areas for improvement in the Ethereum protocol, focusing on block finalization time and the 32-ether staking requirement.
• He emphasized the need for enhancements to streamline the staking process and optimize network efficiency.

Vitalik Buterin, co-creator of Ethereum, believes the protocol has room for advancement, even after its move to proof-of-stake nearly two years ago. Whereas he commended the current implementation for its steadiness and performance, he highlighted key regions that require technical upgrades on his personal website.

One major issue Buterin recognized is the 15-minute block finalization time, which he accepts could be decreased to fair 12 seconds. He moreover noted that the current prerequisite of 32 ether to become a staker limits participation. Ideally, he wants to permit validators to stake with only one ether, streamlining the protocol and making it more open for solo stakers. Be that as it may, these changes could struggle with Ethereum’s objective of minimizing overhead, requiring critical technical advancements or alternative approaches.

Another vulnerability lies in the consistency of which validator will propose the next block. This information can expose the network to potential denial-of-service attacks. To address this, Buterin proposed a “single secret leader election,” which would conceal the personality of the proposing validator until the block is created. He emphasized the significance of maintaining simplicity in the protocol to avoid pointless complexity.

Buterin also advocates for decreasing transaction confirmation times to around four seconds. This lessening would improve the client involvement for both Layer 1 and based rollups, making DeFi protocols more effective. He noted that based rollups depend on Ethereum block builders for transaction sequencing, so moving forward confirmation times would benefit generally network functionality.

Additionally, he stressed the significance of researching recovery strategies from potential 51% attacks and expanding the quorum threshold. Quantum resistance is another area of concern that may become pressing by around 2030. Buterin underscored that this issue has far-reaching implications for Ethereum’s future. He advocates for a cautious approach with respect to proof-of-stake performance assumptions and a proactive effort to create quantum-resistant alternatives.