Ethereum co-founder Vitalik Buterin said he wants to make Ethereum as beautiful and simple as Bitcoin.
At this point, Buterin listed his suggestions in a recent article to make Ethereum’s structure as simple as Bitcoin in about 5 years.
Ethereum Could Become As Simple As Bitcoin!
Buterin described the Bitcoin network as beautifully simple and announced a five-year plan to simplify the Ethereum protocol.
“One of the best things about Bitcoin is how beautifully simple its protocol is,” Buterin said, explaining how Bitcoin transactions and proofs work.
Keeping a protocol simple is key to making it “trustworthy, neutral and globally reliable,” Buterin said.
EVM Creates Complexity!
Pointing out that EVM on Ethereum is unnecessarily complex, Buterin proposed RISC-V instead of EVM.
The proposed RISC-V transition will include an open source instruction set that defines how software will communicate with the processors.
For Ethereum (ETH), this change will make Ethereum faster by eliminating extra translation steps. Applications can run directly on the execution layer, making some transactions up to 100 times faster while still keeping existing smart contracts running.
Buterin noted that when applied to Ethereum, RISC-V could “reduce the cost of building new infrastructure, long-term protocol maintenance costs, reduce the risk of catastrophic failures, and minimize the social attack surface with fewer moving parts.”
Secondly, Buterin argued that the current consensus layer, known as the “beacon chain,” should switch to a new design called “3-slot finality.” Buterin stated that with this transition, ETH will become faster and simpler.
Buterin finally suggested running an on-chain EVM interpreter instead of making existing EVM contracts a thing of the past. This would ensure backward compatibility and allow legacy smart contracts to continue to work, but Ethereum’s main protocol would continue to run directly on RISC-V.
*This is not investment advice.
