on a blog x.com/VitalikButerin/status/1845710232959492310″ target=”_blank” rel=”noopener nofollow”>mail Posted on October 14, ethereum co-founder Vitalik Buterin outlined possible future improvements for the ethereum protocol, focusing on technical improvements to its proof-of-stake (PoS) system. Titled “Possible Futures of the ethereum Protocol, Part 1: The Merger,” the post delves into strategies to improve stability, performance, and accessibility while addressing centralization risks.
First, Buterin reflects on ethereum's successful transition from proof-of-work to proof-of-stake, also known as “The Merge,” almost two years ago, noting that “this proof-of-stake has performed remarkably well in terms of stability.” , performance and prevention of centralization risks”. However, he emphasized that “there are still some important areas where proof-of-stake needs to improve.”
Future improvements for ethereum
One of the main focuses of the publication is to achieve the purpose of a single space and reduce the minimum participation requirement to democratize participation in the network. Currently, it takes 2-3 epochs (approximately 15 minutes) to finalize a block, and a minimum of 32 eth is required to become a validator. Buterin highlights the conflict between minimizing the participation requirement, reducing finality time, and minimizing node overhead.
“Nowadays, it takes 2-3 epochs (~15 minutes) to finalize a block, and it requires 32 eth to be a staker,” he wrote. Identified the goals of finalizing blocks in a slot and allowing validators to stake with as little as 1 eth. “Survey after survey repeatedly shows that the main factor preventing more people from staking solo is the 32 eth minimum,” notes Buterin.
To address these challenges, it discusses several approaches. One involves implementing better signature aggregation protocols, potentially using zero-knowledge proofs (ZK-SNARKs), to process signatures from millions of validators in each slot. Another approach is the introduction of Orbital Committees, a mechanism in which a randomly selected medium-sized committee terminates the chain while preserving the attack cost properties. “Orbit takes advantage of pre-existing heterogeneity in validator deposit sizes to achieve the highest possible economic purpose, while still giving small validators a proportional role,” he explains.
Buterin also considers creating a two-tier staking system with different deposit requirements, where only the highest deposit tier is directly involved in providing economic finality. It recognizes that “the risks depend largely on the specific rights that the lower level of participation obtains” and that certain designs could lead to centralization.
To address security vulnerabilities related to denial of service (DoS) attacks on known validators, Buterin proposes the implementation of single secret leader election (SSLE) protocols. “The best way to solve the DoS problem is to hide the information about which validator is going to produce the next block, at least until the moment the block is actually produced,” he says.
SSLE protocols use cryptographic techniques to create “blind” validation IDs, ensuring that only the owner of a blind ID can generate valid proof to propose a block without others knowing their identity. However, Buterin acknowledges the challenges: “We highly value ethereum being a reasonably simple protocol and do not want the complexity to increase further. “The SSLE implementations we have seen add hundreds of lines of specification code and introduce new assumptions into complicated cryptography.”
It also explored methods to reduce ethereum transaction confirmation time from the current 12 seconds to just 4 seconds, emphasizing the value of decreasing confirmation times to improve user experience and aid decentralized Layer 2 solutions. Strategies include reducing slot times and allowing proposers to post pre-confirmations during the course of a slot. However, Buterin warns about the potential risks of centralization and the need for proper incentives, noting that “if we add a separation mechanism between the certifier and the proposer, then the execution blocks will not need SSLE, because we could trust that the constructors of blocks are specialized”.
Buterin also addresses additional critical areas, including a 51% seizure recovery. He suggests that while full automation is impossible, “we can achieve partial automation (…) ensuring that the bad guys in an attack cannot at least gain a quick and clean victory.” He is also considering increasing the quorum threshold for block completion from 67% to 80% to improve security, arguing that “this seems like a much healthier situation than 'the wrong side' getting an instant victory.”
Concluding his blog post, Buterin warns about the importance of preparing for the potential threat of quantum computers capable of breaking current cryptographic systems: “This justifies conservatism in assumptions about the performance of proof-of-stake designs, and it is also a cause to be more proactive in developing quantum-resistant alternatives.”
At the time of this publication, eth was trading at $2,524.
Featured image from Bloomberg, chart from TradingView.com
