Ethereum researcher Justin Drake has proposed a solution to address the scalability issues faced by Layer-1 blockchain. This proposal has generated interest within the Ethereum community regarding ETH 3.0. Doug Colkitt, the founder of Ambient Finance, has particularly highlighted the potential inclusion of a new consensus model and a native zero-knowledge Ethereum Virtual Machine (zkEVM) in this update. According to Colkitt, these developments could potentially remove gas limits entirely, allowing nodes to process large blocks solely through snark verification. In such a scenario, scalability would only be limited by bandwidth.
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Colkitt: Native zkEVM Could Create Significant Changes
ETH 3.0 and Community Reactions
Colkitt: Native zkEVM Could Create Significant Changes
Colkitt believes that the addition of zkEVM to Ethereum would represent a major update. This innovation could eliminate the need for Layer-2 solutions, thus bringing greater scalability to Ethereum. If these rumors are true, it could lead to a revolutionary change within the Ethereum ecosystem.
Discussions on Ethereum’s scalability issues are ongoing. In an interview with Cointelegraph, Consensys CEO Joe Lubin mentioned that different approaches are being considered to address these problems. Lubin noted that while they had previously abandoned the idea of execution sharding, they are now exploring new paths with zero-knowledge and optimistic approaches.
Lubin expressed that these approaches could provide Ethereum’s Layer-1 with more processing power, enabling it to handle millions of transactions per second. However, it may take several years for this vision to be fully realized.
ETH 3.0 and Community Reactions
Rumors about ETH 3.0 have raised questions among some members of the community. Major updates are typically announced months in advance and filed as Ethereum Improvement Proposals (EIPs). However, Drake’s sharing has not provided clarity on this matter.
As Ethereum continues its efforts to achieve long-term goals, the community closely monitors these developments.
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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.