Vitalik admits mistakes and promises to transform Ethereum into “Bitcoin 2.0”

Vitalik Buterin, co-founder of Ethereum, has proposed a radical restructuring of the blockchain protocol, aiming to simplify its code to improve longevity, security and accessibility. He admitted that the current complexity of Ethereum, despite advances such as Proof-of-Stake and zk-SNARKs, has led to slow development, high operational costs and security vulnerabilities.

Buterin suggested changes to the consensus layer, including a new “3-slot finality” model and the adoption of technologies such as STARKs to promote more effective decentralization. In the execution layer, he proposed migrating from the Ethereum Virtual Machine (EVM) to an architecture based on the RISC-V standard, aiming at performance improvements and compatibility with zero-knowledge proofs (ZK).

In addition, Buterin recommended the creation of unified standards in the Ethereum ecosystem to make the code more auditable and reliable. He believes that simplicity is key to the network's security and efficiency, and that these changes can help Ethereum become lighter, more accessible, and more robust over the next five years, while maintaining its relevance against the competition from other blockchains like Solana and Avalanche.

Source: Livecoins

"Vitalik Buterin, by admitting his mistakes and proposing to transform Ethereum into a "Bitcoin 2.0", seems to be saying: "Oops, we've made it too complicated! Let's simplify it before the competition swallows us up." It's ironic that, after so many technological advances, the solution is to go back to basics.

But there is hope! If the community embraces these changes, Ethereum can emerge stronger, lighter, and more accessible, ready to face a competitive and regulated future. After all, sometimes less is more." $BTC $ETH $BNB