Vitalik Buterin maps Ethereum’s shift beyond a blockchain in sweeping 2030 vision
In this news:
Key takeaways
- Vitalik Buterin outlined a 2030 vision for Ethereum to expand capacity and privacy.
- Proposed privacy plans aim to hide wallet balance checks from outside servers.
- Other developers are pursuing similar goals with Zcash and Bitcoin shielded payments.
Computers could then work on different tasks at the same time, giving Ethereum more capacity as well as more independent checks.
However, Ethereum would still need to settle questions where the order matters, such as which of two payments spending the same funds came first. Buterin suggested that more of the work behind those payments could be completed beforehand, with proofs combined to reduce the information recorded on the blockchain.
Meanwhile, his privacy plans also cover information people reveal simply by using a wallet.
Checking a balance often involves asking an outside server about an address. Its operator can learn which accounts a person follows, even if the payments themselves are private. Buterin envisages hiding those requests alongside payment details and the rules an account uses to approve spending.
A business could then keep its payments confidential without revealing its accounts whenever an employee checked a balance.
How privacy is becoming key
Other crypto developers are pursuing similar goals.
Zcash already lets users send payments with encrypted addresses and amounts. About 4.9 million ZEC sat in its shielded pools on Friday, according to CoinDesk’s earlier analysis of ZecStats data, while the token traded around $1,660 earlier Sunday after gaining about 15% over the week.
Researchers behind the Shielded Bitcoin paper published Thursday have proposed borrowing Zcash’s payment design for BTC. Their specification leaves the mechanism for depositing and withdrawing actual bitcoin to separate research.
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