Vitalik Buterin, co-founder of Ethereum, presented the future plan of the Blockchain technology platform at a conference in Taipei, dealing with some of the biggest problems at Ethereum and suggesting how the future could form. Having already provided a substantial amount of information, Buterin's new update gives more specific details.
The Buterin Declaration began with a kind of ironic comment on the many Ethereum replacements that came on the market in recent months. According to the young computer scientist:
"The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Taiwan Ethereum is Ethereum … 2.0."
The Biggest Problems Coming
Buterin goes on to describe the four areas where he sees a need for improvement on the current Ethereum platform. These are privacy, consensus security, smart contract security and scalability.
For each of the first three, the co-founder of Ethereum sees a solution that is actively developing. In the area of privacy, Byzance's rigid fork has created the capacity of zk-SNARKs, a solution that Vitalik sees as viable with continued implementation. For security of consensus, the recent development, nicknamed "Casper", should provide solutions, and for the security of smart contracts, Viper and formal verification can produce real solutions.
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However, the problem of Scaling is important. Vitalik explained that decentralization, scalability and security are a complex factor that can make it relatively easy to have two or three of them creating a system. in which the three are functional.
The scalability of the Ethereum, according to Buterin, must be thousands of transactions. In other words, one must solve the three problems: the solution, by Vitalik, is in the side chains which allow to divide or to allow the changes of protocol the maintenance of the main chain intact.
The passage of the proof of the work to the proof of the participation will be a requirement, and Buterin indicated that the delay is Robely three to five years, even if he sees a short term, as these improvements begin to take shape.