Ethereum co-founder Vitalik Buterin has outlined potential upgrades to the blockchain’s proof-of-stake (PoS) system to improve transaction speeds, security, and staking accessibility. One of his primary goals is to reduce transaction times from 12 seconds to just a few seconds, enhancing user experience and making defi protocols more efficient. Buterin suggested implementing a “single-slot finality” method to finalize blocks within one slot and using ZK-SNARKs for better signature aggregation.
Another key concern for Buterin is staking accessibility, as the current 32 ETH minimum requirement limits solo participation. He proposed lowering the threshold to 1 ETH to encourage more individual users to stake and contribute to the network. By reducing the minimum, Buterin believes more users would engage in solo staking, potentially improving network participation.
Buterin also emphasized the need to enhance Ethereum’s security by implementing a “single secret leader election” to prevent attackers from disrupting the network by targeting specific validators with denial-of-service attacks. He suggested raising the quorum threshold from 67% to 80% to improve the network’s security and resistance to attacks, particularly in scenarios where a 51% attack or censorship might be attempted.
In addition, Buterin highlighted the importance of preparing for potential quantum computing threats that could challenge the network in the future. He also emphasized the need for the network to be able to recover from 51% attacks. These proposed upgrades aim to make Ethereum more competitive, secure, and accessible for users, ultimately enhancing the overall performance of the blockchain.
Overall, Vitalik Buterin’s suggestions for upgrading Ethereum’s proof-of-stake system aim to address key concerns related to transaction speeds, staking accessibility, and network security. By implementing strategies such as reducing transaction times, lowering staking thresholds, and enhancing security measures, Ethereum could improve user experience, increase network participation, and strengthen resistance to potential attacks. These proposed upgrades could help Ethereum remain competitive and evolve to meet the challenges of the ever-changing blockchain landscape.
