- The proposed solutions include reducing the number of signatures required from validators, and addressing technical complexities arising from Ethereum’s pursuit of decentralization.
- The adjustments, including a transition to a moderate level of signatures per slot, intend to enhance the chain’s quantum resistance and maintain effective slashing mechanisms.
Vitalik Buterin, Ethereum’s co-founder, has put forth proposals to alleviate the burden on the Ethereum blockchain and streamline its proof-of-stake (PoS) consensus mechanism. The objective is to minimize the number of signatures required from validators, leading to a lighter workload on the Ethereum blockchain network.
Ethereum’s pursuit of decentralization and user participation in staking, with a support base of approximately 895,000 validators, has encountered notable technical hurdles.
The substantial volume of signatures, averaging around 28,000 per slot, places a considerable strain on the network. This approach presents challenges such as issues with quantum resistance, intricate forking processes, and the necessity to scale signatures through zero-knowledge proofs (SNARKs).
A PoS simplification proposal: make a design that only requires 8192 signatures per slot (even with SSF), making the consensus implementation considerably simpler and lighter.https://t.co/Z8mK7vZx7g
— vitalik.eth (@VitalikButerin) December 27, 2023
Vitalik Buterin Suggested Three Approaches
Buterin has outlined three potential strategies to address the challenges: a shift towards decentralized staking pools, the implementation of a two-tiered system distinguishing between “heavy” and “light” staking, and the introduction of a rotational participation model with accountable committees.
To tackle the technical complexities and enhance quantum resistance, Ethereum’s co-founder proposes a reduction in the number of signatures per slot, opting for a more moderate level. The current approach of supporting approximately 895,000 validators on Ethereum, while aiming for decentralization and broader participation, faces limitations as the high minimum requirement of 32 ETH hinders the involvement of ordinary individuals in validation.
Buterin’s proposed solution involves transitioning to a more moderate approach with around 8,192 signatures per slot, significantly reducing the existing load of 28,000 signatures. This adjustment not only simplifies technical aspects but also boosts the chain’s quantum resistance while maintaining a substantial total slashable ETH at approximately 1-2 million ETH. Slashing, a mechanism for enforcing positive validator behavior, would remain effective with this proposed adjustment.
The primary benefit would be establishing a future signature load at a manageable level, significantly easing protocol and infrastructure development, said Buterin. He added:
The future load of the Ethereum protocol becomes no longer an unknown. It can be raised in the future through hard forks, but only when developers are confident that technology has improved enough to be able to handle a larger number of signatures-per-slot with the same level of ease.
Ethereum Focuses on Protocol Enhancement
The suggested solutions target the reduction of the digital signature load to a manageable level. The primary advantage would be establishing a known future signature load, and facilitating protocol and infrastructure development.
According to Buterin, having a foreseeable Ethereum protocol load allows for potential adjustments through hard forks when developers are confident that the technology has advanced sufficiently to handle a larger number of signatures per slot with the same ease.
Back in May, Buterin had issued a warning about the risks associated with “stretching” Ethereum’s consensus beyond its fundamental roles of validating blocks and ensuring network security.
On the other hand, Ethereum (ETH) has been showing a good amount of traction. Earlier this week, the ETH price surged past $2,400 levels. Analysts are quite bullish on ETH for the upcoming year of 2023.
