Key Points
- Justin Drake, an Ethereum researcher, hinted at the introduction of ETH 3.0 to enhance the platform’s scalability.
- The possible reintroduction of Sharding development could pave the way for Ethereum’s scalability solutions.
Justin Drake, a researcher for Ethereum, recently hinted at a new proposal that has sparked rumors about ETH 3.0.
The proposal aims to increase the platform’s scalability.
Redesigning the Ethereum Consensus Layer
Drake has been considering a complete redesign of the Ethereum consensus layer to address the network’s scalability problems.
His goal is to propose a strategy for delivering a Beacon Chain roadmap.
The full proposal will be presented at Devcon in Bangkok, Thailand, on November 12.
Joseph Lubin weighed in on this development, stating that Drake’s idea would involve revisiting the Sharding development.
He explained that this would mean developing a zero-knowledge Ethereum Virtual Machine (zkEVM) at layer 1.
This would allow the execution of multiple identical shards.
Lubin added that sharding was put on hold a few years ago because it wasn’t feasible at the time.
Learning from Zero-Knowledge Approaches
Lubin believes that there are many lessons to be learned from the development of zero-knowledge approaches.
He plans to apply these learnings to the Ethereum Layer-1 mainnet to improve the overall system.
Lubin also suggests that this approach could lead to scalability solutions for Ethereum.
Following Drake’s recent post, rumors about Ethereum 3.0 have started to gain momentum within the Ethereum community.
Doug Colkitt, founder of Ambient Finance, shared a rumor suggesting that the ETH 3.0 announcement involves a “second merge” into a new consensus.
This new consensus aims for 1-second block times and the introduction of a native zero-knowledge Ethereum Virtual Machine (zkEVM).
If these rumors are true, having a native zkEVM would be a significant milestone.
According to Colkitt, “The gas limit can be eliminated entirely. Builders can build arbitrarily large blocks since nodes only need to verify the snark. The only scaling limit left would be bandwidth.”
Ethereum’s value has been on the rise, with a 38% gain following Donald Trump’s victory last week.
Earlier today, the price of Ethereum surged past $3,400, with the next target being $4,000 and beyond.
