Ethereum co-founder Vitalik Buterin proposed a way to simplify Ethereum while maintaining advanced features, similar to Bitcoin.
On May 3rd, Buterin stated in his blog that "one of Bitcoin's biggest advantages is its extremely simple protocol" and that "these benefits of simplicity should be introduced to Ethereum".
Simplifying Ethereum would make the protocol easier to understand, facilitate development participation, and reduce the cost of developing new infrastructure and tools. Additionally, long-term maintenance requirements would decrease, and the risk of critical bugs and potential social attacks would be lowered.
Buterin explained he plans to pursue simplification in three main areas: consensus layer, execution layer, and sharing components between protocol layers. He said, "In the process of improving Ethereum's consensus, there are many opportunities to enhance efficiency and security while simplifying".
Consensus simplification proposals include introducing a '3-slot finality' design to remove complex concepts like slots and epochs, reducing the number of active validators to simplify fork selection rules, and utilizing STARK-based aggregation to resolve trust issues.
Regarding the execution layer, Buterin pointed out that "the complexity of the Ethereum Virtual Machine (EVM) is increasingly growing, and a significant portion of this complexity has been proven unnecessary". He suggested replacing EVM with RISC-V or another simple virtual machine, expecting effects such as 100-fold performance improvement, simpler specifications, better developer options, and increased code size limits.
Meanwhile, Ethereum's price has shown reduced investor interest this year, with its market capitalization share dropping to a historic low of 7% last month. Currently trading around $1,800, it has fallen 63% from its 2021 peak. However, with a new roadmap and upgrades ahead, analysts forecast a recovery this year.
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