{"id":1745,"date":"2022-02-08T05:43:46","date_gmt":"2022-02-08T05:43:46","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=1745"},"modified":"2022-02-08T05:43:46","modified_gmt":"2022-02-08T05:43:46","slug":"vitalik-buterin-ethereum-will-likely-never-be-much-faster","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1745","title":{"rendered":"Vitalik Buterin: Ethereum Will Likely Never Be Much Faster"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<h3>Key Takeaways<\/h3>\n<p>Vitalik Buterin has clarified why Ethereum\u2019s block time is unlikely to be made significantly quicker in the future.<br \/>\nReducing block time, whether Proof-of-Work or Proof-of-Stake, comes with consequences in regard to decentralization and network safety, according to Buterin.<br \/>\nOther prominent cryptocurrency founders and developers have joined the discussion on Twitter.<\/p>\n<p>Share this article<\/p>\n<p>In a comment that may rattle some Ethereum enthusiasts, Vitalik Buterin has expressed the view that Ethereum may never be much faster than it is now. He explained that reducing block time was constrained by the necessary tradeoff with \u201csafety and decentralization.\u201d\u00a0<\/p>\n<h2>Vitalik on Network Speed<\/h2>\n<p>Vitalik Buterin has suggested that the Ethereum blockchain is unlikely to get much faster, in spite of its planned upgrades.<\/p>\n<p>Buterin\u2019s comments came yesterday in response to a Reddit user who asked why switching from Proof-of-Work to Proof-of-Stake would not reduce block confirmation times.\u00a0<\/p>\n<p>As with most blockchain-related problems, optimizing for one variable (e.g. speed) likely will be at the expense of another (e.g. network security). The tradeoff of speed (block time) and decentralization\/security exists regardless of whether a network is Proof-of-Work or Proof-of-Stake, albeit for different reasons.<\/p>\n<p>With Proof-of-Work, the \u201ccore issue,\u201d according to Buterin, is the built-in randomness of block time. Ethereum might have an average block time of 13 seconds, but that does not mean a block actually is written every 13 seconds on the dot. There is some chance a new block could be validated only one second after the confirmation of the last, explains Buterin. When this happens, the miner with the better network connection is more likely to be the first to propagate the next block. Reducing block times makes this problem much worse.<\/p>\n<p>With Proof-of-Stake, there is a different factor at play. The version of Proof-of-Stake Ethereum will take, writes Buterin, requires blocks to acquire roughly 9,100 signatures per slot to be included, affording a \u201cvery high level of confirmation after even one slot.\u201d Since the time it takes for that process is more logarithmic than linear, reducing slot time by half (where only around 4,550 signatures was required) \u201cwould not work, as each now-shorter slot would still take <i>almost <\/i>as long.\u201d Reducing block times would cause many signatures to be excluded from the blockchain, and \u201chighly centralized actors\u201d would be in increasingly favorable positions to reap disproportionate rewards.\u00a0<\/p>\n<p>Therefore, Buterin concludes that the future upgrades will not constitute a meaningful reduction in \u201cper-slot time,\u201d and that applications in need of quick confirmations will need to rely on channels or rollups.<\/p>\n<p>Prevalent developers of other Layer 1 chains also chimed in on the discussion on Twitter. The founder of Ava Labs, which developed Avalanche, Emi\u0307n G\u00fcn Si\u0307rer, tweeted at Buterin, seeming to criticize him for his choices of chain parameters that Sirer says makes consensus the bottleneck. Buterin responded, telling Sirer to \u201cstop being dishonest\u201d and clarified that his past claims about consensus not constituting the bottleneck referred to bandwidth rather than latency.<\/p>\n<p>The discussion continued, and Anatoly Yakovenko, the co-founder of Solana Labs (developer of Solana) also weighed in with questions of his own in regard to signature requirements as a function of slot times. The co-founder of Dogecoin joined the dialogue too, asking Sirer why he named his \u201ccryptocurrency after something that falls down.\u201d<\/p>\n<p><i>Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies. <\/i><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">Vitalik Buterin Puts Forward EIP-4488<\/h3>\n<p>\nThis week Vitalik Buterin and Ethereum developer Ansgar Dietrichs co-authored a new Ethereum Improvement Proposal called EIP-4488 that seeks to cut the gas fees of Ethereum Layer 2 scaling solutions&#8230;. <\/p>\n<h3 class=\"title\">Vitalik Buterin Proposes \u201cMultidimensional EIP-1559\u201d for E&#8230;<\/h3>\n<p>\nVitalik Buterin has published a new piece addressing Ethereum gas fee markets. Specifically, he discussed launching a new \u201cmultidimensional\u201d EIP-1559 update.\u00a0 Vitaik Buterin Makes New Ethereum Proposal Vitalik Buterin has&#8230; <\/p>\n<h3 class=\"title\">What Is The Crypto Volatility Index?<\/h3>\n<p>\nThe Crypto Volatility Index (CVI) is a decentralized solution used as a benchmark to track the volatility from cryptocurrency option prices and the overall crypto market. <\/p>\n<h3 class=\"title\">Ethereum Scraps \u201cETH 2.0\u201d in Roadmap Rebrand<\/h3>\n<p>\nThe Ethereum Foundation has rebranded the terms \u201cEthereum 1.0\u201d and \u201cEthereum 2.0\u201d in order to avoid future confusion. Going forward, they will be known as Ethereum\u2019s \u201cexecution layer\u201d and \u201cconsensus&#8230; <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/vitalik-buterin-ethereum-will-likely-never-be-much-faster\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Vitalik Buterin has clarified why Ethereum\u2019s block time is unlikely to be made significantly quicker in the future. Reducing block time, whether Proof-of-Work or Proof-of-Stake, comes with consequences in regard to decentralization and network safety, according to Buterin. Other prominent cryptocurrency founders and developers have joined the discussion on Twitter. Share this article [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-1745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1745"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1745\/revisions"}],"predecessor-version":[{"id":1747,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1745\/revisions\/1747"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1746"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}