2023-12-28 18:17:50
Ethereum co-founder and perhaps the project’s best-known name, On December 28, Vitalik Buterin came up with a proposal to simplify the proof-of-stake consensus mechanism. Buterin suggested that the number of required validator signatures should be reduced. This would make the whole consensus mechanism simpler and faster and reduce the load on the Ethereum blockchain.
The Ethereum team also feels that something needs to change
Currently, Ethereum has about 895 thousand validators, which can be called adequate from the point of view of decentralization. However, 28,000 signatures are still processed per slot, which is a huge number. This high load leads to technical challenges such as the issue of limited quantum resistance and complex scaling solutions using zero-knowledge proofs (SNARKs). Another problem is that users need at least 32 ETH to become validators, a minimum requirement that many find too high. In his proposal, Buterin would suggest 8,192 signatures in places on the chain. This would improve quantum resistance and simplify the system.
The founder would achieve the reduced number of signatures in three ways. First, it would run decentralized staking pools, then it would introduce a two-level staking system and finally it would introduce rotational participation. These solutions will help to better manage the digital signature workload. And if the latter were eventually achieved, the future development of Ethereum would be simpler and more predictable. The founder has reason to worry, as Ethereum has been considered overloaded for quite some time, in May Buterin himself spoke about the risks of overloading the entire infrastructure. But not so long ago we wrote about how critical he feels it is to reform the entire staking model.
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