yesterday i wrote about zk proofs which separate execution from validation and verification. so what are blockchains moving towards beyond L2s?
another ๐งต๐
after we solve zk rollups, development is far from done. there's one looming problem: data availability. when everything in the world is run on a blockchain, where/how do you store the transaction info while remaining decentralized?
there are a few projects tackling this, like @ethswarm and @CelestiaOrg, but research is even more bleeding-edge than ZKs are- i expect the narrative to shift to DA a few years from now.
ethereum is currently working on state expiry and statelessness, which means that the average node wouldn't have to retain a copy of the entire blockchain, but it's still several years away.
under the hood, the blockchains that will survive will look more like a network of moving parts (rollups, settlement, validiums, volitions, consensus) operating interdependently instead of the current model. it's the only way to achieve worldwide-level scaling
as it stands now, ethereum will be the "spine" of this new blockchain architecture, with rollups, volitions, DA layers, etc running alongside and inheriting the security of the base layer
it will be a multichain future, but not in the way that people currently think of one. we already see that the EVM has become the standard for smart contracts and Solidity has become the default programming language for them
it will be hard to disrupt 5+ years of developer tooling, onboarding, documentation, and community. eth is the current blockchain standard
does this mean solana, avax, and the others cannot coexist? no, i believe they will end up as rollups eventually, or fade into obscurity-
as a L1 chain, why would you pay a lot of money to secure your chain (mining rewards, staking, etc) when buying ETH and checkpointing to it will be far cheaper and more secure?
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Let's start 2022 off with the basics and dive into the Ethereum Virtual Machine (EVM), the current smart contract standard, and how it works. We'll also discuss how L2s open the door to a supercharged EVM!
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The ETH blockchain exists to run a state machine, the EVM. Let's break it down further, and discuss what a state machine is!
A state machine is any machine that takes inputs and provides outputs based on those inputs. Here's a diagram of a simple state machine:
all these zk terms... what do they mean? what's the big deal with zk proofs?
a quick ๐งตbreaking it down: ๐
zero knowledge (zk) cryptography is very new and an active field of research, but we're very close to having it ready for primetime with @zksync and @StarkWareLtd. let's discuss what this means for the future of ETH and blockchains in general
previously, blockchains have required all pieces of a transaction to be bundled together (verification, validation, and execution) which bottlenecks the whole process and makes it hard to scale while remaining decentralized
gm frens 2022 is fast approaching. after marking my 3rd year in crypto/web3 full time, i'm gonna drop a ๐งตof things i wish i knew when i started, since i saw a lot of new faces this year.
stop short term trading - buy your bags and stick with them. fees.wtf says I've spent over 8 eth on gas in just 1 wallet this year
hang out in DAOs you care about - there is NO better way to meet like-minded people than DAOs. Build with them if you can.