Ethereum founder Vitalik Buterin has unveiled a new L2 development plan to enhance token scalability and advocated for open-source funding.
New Development Plan for Ethereum L2
Buterin has introduced a plan to improve Ethereum's scalability using a Layer 2 model. This plan requires an increase in data capacity, with the network gearing up for an upgrade potentially launching by the end of April.
Details of the L2 Proposal
Buterin's proposal involves a system featuring a 2/3 multi-signature mechanism and multiple proof types, including optimistic, zero-knowledge, and trusted execution environment proofs. These mechanisms aim to enhance network security and speed. However, Buterin warned of the potential vulnerabilities when using shared code across different zk rollups.
Shift to Open-Source Funding
Buterin also proposed a shift from public goods funding to open-source funding, arguing that the term 'public good' can be misleading. He believes open-source funding is more transparent and encourages collaboration, while emphasizing support should be limited to projects that provide real value.
Buterin's new plans for L2 and the shift to open-source funding could play a crucial role in Ethereum's development, enhancing its scalability and transparency.
