April 19, 2024
Vitalik Buterin Addresses Centralization Concerns on Ethereum
Altcoins News

Vitalik Buterin Addresses Centralization Concerns on Ethereum

As stated by Ethereum co-founder Vitalik Buterin, one of the main issues the Ethereum network is now facing is the centralization of nodes, which should be fixed by making running nodes less expensive and complicated.

Many experts contend that the fact that the bulk of the 5,901 active nodes on Ethereum are now being operated via centralized web service suppliers such as Amazon Web Services exposes the Ethereum blockchain to a single point of failure.

However, he emphasized that the node problem was a “big piece of the puzzle” to guarantee the Ethereum network remained decentralized over the long term. Buterin listed six critical issues that need to be resolved to solve centralization in his speech at Korea Blockchain Week.

“One of those six things is making it technically easier for people to run nodes, and statelessness is one of the really important technologies for doing that right,” he stated.

“Today, it takes hundreds of gigabytes of data to run a node. With stateless clients, you can run a node on basically zero.

Vitalik Buterin, co-founder of Ethereum

The idea of “statelessness” refers to the elimination of dependency on centralized service suppliers to monitor network behavior. The Ethereum Foundation claims that unless node managers can execute Ethereum on basic and affordable hardware, full decentralization cannot be achieved.

Statelessness, as Buterin pointed out, is an important part of the Ethereum roadmap, with “The Verge” and “The Purge” phases making significant progress in this direction:

“In the longer term, there’s a plan to maintain fully verified Ethereum nodes where you could literally use them on your phone.”

Vitalik Buterin

Statelessness is a key component of the Ethereum plan, although Buterin acknowledged that these very technical issues were unlikely to be resolved any time soon.

“These technical problems will have to be addressed eventually—maybe on a 10-year timescale, maybe on a 20-year timescale,” he stated.

Beyond statelessness, Buterin stated that clearer documentation, lower obstacles to distributed staking, increased staking security, and, more generally, making it simpler to stake Ether overall were the next most important steps toward reducing Ethereum centralization.

Buterin ultimately came to the conclusion that obtaining greater levels of scalability was the most urgent and time-sensitive issue facing Ethereum as a whole.

Zero-knowledge (ZK) rollup usage is presently dominated by Ethereum scaling mechanisms.

Many people in the Ethereum community have praised ZK-rollups as a crucial tool for scaling since they seek to increase efficiency on the primary Ethereum chain by shifting computation and state storage off-chain.

Image: Freepik

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