Ethereum co-founder, Vitalik Buterin, is advocating for a change in mindset towards the development of layer-2 decentralized applications (DApps) and solutions following the successful implementation of the Dencun hard fork. Speaking at the ETH Global’s Pragma London event on March 14, Buterin praised the completion of the network upgrade, which allows L2 rollups to achieve scalability by reducing the costs associated with submitting cryptographic proofs to Ethereum’s base layer. The event attracted over 500 attendees, and Buterin’s presence was a major attraction towards the end of the day’s speaker lineup.
Reflecting on his widely-cited Ethereum roadmap, Buterin discussed the engineering tasks that have been accomplished, including the recent completion of Dencun. The upgrade included the Ethereum Improvement Proposal (EIP-4844), which introduced blob space as a more cost-effective way for rollups to store data on the mainnet. This change replaces the use of call data for storage, which has historically been expensive due to the processing required by all Ethereum nodes.
Buterin emphasized the need for Ethereum to adapt and change its approach in order to have a significant impact on the internet and traditional financial systems. He described the first decade of Ethereum as inwardly focused, with the ecosystem primarily developing for its own benefit. The Dencun hard fork marks a shift away from a layer 1-centric focus and towards a more L2-centric approach. Buterin expects the base layer of Ethereum to transition from a period of rapid change to one focused on maintenance, with a greater emphasis on application developers.
Buterin highlighted the tools that the Ethereum ecosystem has created for building DApps, with zero-knowledge proofs being a key component. He urged developers to adopt an “Ethereum 2.0” approach, utilizing contemporary tools and protocols like L2 rollups to access improved privacy, security, and performance benefits.
In conclusion, Buterin’s call for a mindset shift towards L2 DApps and solutions reflects the ongoing evolution of Ethereum and its aim to make a significant impact in various industries. The successful implementation of the Dencun hard fork marks a milestone in this journey, enabling greater scalability and cost-effectiveness for Ethereum’s ecosystem.