Vitalik Buterin, co-founder of Ethereum, has put forward a new proposal that could allow the network to handle up to one million validators. This change is aimed at enhancing scalability, security, and decentralization.
New Consensus Approach for Ethereum
Currently, Ethereum employs a single process for determining the latest block and block finality. Buterin suggests that these processes should be split. His proposal envisions a small group of about 256 validators using the LMD GHOST fork choice algorithm in real-time. This group would serve as Ethereum's 'fast lane' for block selection, enabling quick determination of the chain head without overloading the network.
Proposal for Faster Blocks
Recently, an Ethereum developer proposed a significant change that could speed up the network. The EIP-7782 proposal suggests reducing block time from 12 seconds to 6, which would improve transaction confirmation times and enhance overall user experience.
Decade of Continuous Operation for Ethereum
Ethereum has been running for over ten years without a single outage. Buterin noted that many institutions choose Ethereum due to trust in its reliability. Over this period, the network has processed millions of transactions and supported numerous applications.
Vitalik Buterin's proposed changes may significantly impact the future development of Ethereum, contributing to its scalability and reliability.
