Vitalik Buterin believes that the Ethereum blockchain and crypto ETH have a good future, but there are a number of challenges that need to be solved.
Recently, the founder of Ethereum publicly announced the future of the blockchain, which is widely used for various crypto projects. Here is the gist of what he conveyed at the BUIDL Asia eventahead of schedule unite I am going to Ethereum 2.0 which will take place in September 2022.
Vitalik Buterin and the ZK-Rollups Project
The ZK-Rollups project is considered the most important basis for use case The Ethereum blockchain is getting wider.
ZK-Rollups are a protocol for crypto transactions that enables indirect transactions via the Ethereum blockchain, the so-called off the chain.
This method will radically speed up transactions and increase their volume. Eventually, this will increase efficiency and scale use case The Ethereum blockchain itself, including adoption ETH as your crypto.
This technique is similar to technology Lightning Network used since 2018 for improvement use case blockchain Litecoin and Bitcoin.
“In the long term, ZK-Rollups will far surpass the Optimistic Rollups technology,” Vitalik said.
Preparing for powerful computer threats
According to Vitalik, Ethereum developers must be ready to face the threat of quantum computing, which is expected to be increasingly superior in terms of speed.
The debate about quantum computing, which is considered the main threat to current blockchain technology, including Bitcoin, has been going on since 4 years ago.
Because at that time, quantum computing technology underwent significant development, after it was proven that it could perform very complicated calculations in just 10 minutes. If you use today’s supercomputers, it can take thousands of years.
Quantum computing does not rely on binary numbers, the combination of numbers 0 or 1, but on the concept a qubitwhere two countries can work at once, namely 0 or 1 and 0 and 1. This can happen because the processor does not exploit the electrical dynamics of transistors, but particles at the subatomic level.
This means that the computing speed is millions of times faster than today’s supercomputers and is expected to continue to increase in the future to make it easier for people to do their jobs.
The problem is that the smarter quantum computers get, the more they threaten current human cryptographic security systems, including the Bitcoin blockchain which uses SHA256.
Vitalik Buterin: Google’s quantum computer was not useful
This huge increase in quantum computing Vitalik mentioned last year, that the power of the new computer is not a threat now, but it will be in the future.
The reason is that quantum computing promises a new world of derivative technologies, but at the same time threatens conventional technology. This is just like when the first supercomputer was developed.
You can read the Blockchainmedia.id archive related to quantum computing on this page.
“We are currently working with a number of artificial intelligence researchers to develop new algorithms that can compete with the high capabilities of quantum computing. That’s still a long way off, between 10-30 years from now,” said Vitalik. [ps]