Ethereum co-founder Vitalik Buterin believes that the Bitcoin network needs scalable solutions like Zero Knowledge (ZK) accumulations to become more than just another payment network. Buterin’s comments came during a twitter space hosted by Bitcoin developer Udi Wertheimer with discussions revolving around Ethereum scaling experiments.
A ZK-rollup chain is an off-chain protocol that operates on top of the Ethereum blockchain and is managed by on-chain Ethereum smart contracts. It offers a more scalable and faster way to verify transactions without sharing critical user information.
The Ethereum co-founder shed light on how Ethereum has managed to incorporate various scaling solutions over the years and the recent experiment with ZK rollups and Plasma has brought better performance. Buterin cited the example of Optimism and Arbitrum as two successful rollup examples that could be seen as case studies for Bitcoin.
“I think if we want Bitcoin to be more than payments, it needs more scaling solutions,” Buterin added,
Scalability has been a longstanding point of discussion for Bitcoin and Ethereum over the years. While the Ethereum network has transitioned from a Proof-of-Work to a Proof-of-Stake network, it is also experimenting with various Layer 2 solutions like ZK roll-ups and Plasma.
Related: Zero-knowledge proofs come to Bitcoin, checking for network state validation
On the other hand, the Bitcoin layer 2 solution Lightning network has been crucial to its scalability aspirations and of late Bitcoin ordinals have also jumped on the scalability bandwagon and helped the Bitcoin network become become more than just another payment layer. Buterin also praised the rise of ordinals, saying that he believes that ordinals have brought builder culture back to the Bitcoin ecosystem.
Bitcoin Ordinals is the latest Layer 2 solution enabling decentralized storage of digital art on the Bitcoin blockchain. Its popularity skyrocketed, and by the end of June, Bitcoin Ordinals signups generated over $210 million in trading volume.
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