Ethereum Co-Founder Proposes Simplified Proof of Stake Design
Ethereum co-founder Vitalik Buterin has put forward three alternative methods to simplify the Ethereum blockchain’s proof of stake design. These proposals aim to address complexity within Ethereum’s consensus mechanism by reducing the number of signatures required per slot in the blockchain.
First Proposal: Decentralized Staking Pools
Buterin’s first proposal suggests shifting towards decentralized staking pools to simplify the proof of stake process. This would involve reducing the number of individual validators and increasing the minimum ether required for staking, encouraging smaller validators to form pools.
Second Proposal: Dual-Layer Stakers
The second proposal introduces a dual-layer of stakers to enhance network security and efficiency. This approach involves creating a “heavy” layer with a high minimum requirement for participation in finalization, and a “light” layer with no minimum requirement.
Third Proposal: Rotating Set of Validators
The third proposal aims to distribute the validation process more evenly across the network by implementing a rotating set of validators. For each slot, a set number of active validators would be chosen, and adjustments would be made during each slot to ensure safety.
Limitations of Committee-Based Security Model
Buterin also highlighted the limitations of committee-based security models used by other blockchains. These models lack accountability in case of a 51% attack, as the economic cost to attackers is minimal since most involved validators remain unseen. Ethereum’s current system imposes severe penalties for such attacks, but Buterin suggests finding a balanced solution that maintains slashable Ethereum while making concessions on validator accountability.
Hot Take: A Simplified Future for Ethereum’s Proof of Stake
Vitalik Buterin’s proposals for simplifying the Ethereum blockchain’s proof of stake design offer potential solutions to address complexity and enhance efficiency. By reducing the number of signatures required per slot, implementing decentralized staking pools, introducing dual-layer stakers, and utilizing rotating sets of validators, Ethereum can achieve a simpler and more secure consensus mechanism. These proposals aim to strike a balance between maintaining accountability and imposing penalties for attacks while ensuring the overall stability and decentralization of the network. As Ethereum continues to evolve, these ideas contribute to the ongoing development of a robust and efficient blockchain platform.
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