Will Ethereum become the new Bitcoin? Vitalik Buterin has a plan for that.
The post 'Will Ethereum become the new Bitcoin? Vitalik Buterin has a plan for that' first appeared on Coinpedia Fintech News.
Ethereum co-founder Vitalik Buterin is laying the groundwork for a major overhaul of the Ethereum network. His goal? Simplifying the architecture, enhancing scalability, and strengthening long-term stability. Inspired by Bitcoin's minimalist design, Buterin advocates for a shift that could change the future of Ethereum.
Is this the key to success like Bitcoin? Let's delve into what Buterin has in store.
One of Bitcoin's best qualities is its simplicity. This simplicity has many advantages. Let's bring these advantages to Ethereum. pic.twitter.com/YwmVaOCPlP
— vitalik.eth (@VitalikButerin) May 3, 2025
Is Ethereum complicated?
Ethereum has become a decentralized powerhouse, hosting a multitude of applications from DeFi platforms to NFTs and DAOs. But this flexibility has come at a cost.
The platform's complexity has significantly increased over time, leading to reduced performance, rising costs, and increased security risks. Buterin acknowledges these issues and is now advocating for a leaner, more efficient Ethereum.
"Historically, Ethereum often did not do this (sometimes due to my own decisions), and this contributed to many of our excessive development costs, various security risks, and the isolation of the R&D culture, often in pursuit of benefits that turned out to be illusory."
Buterin's proposal for optimizing Ethereum
In his May 3 blog post "Simplifying L1", Buterin laid out a roadmap to bring Ethereum closer to Bitcoin's simplicity while maintaining its functionality as a decentralized platform. Key proposed changes include:
Reducing the number of validator signatures: Buterin proposes to cut the number of validator signatures from 28,000 to just 8,192 per slot. This drastic reduction will lessen the network load and improve Ethereum's performance, especially during peak times.
Adopting a ZK-focused virtual machine (VM): One of the most ambitious proposals is to transition from the current Ethereum Virtual Machine (EVM) to a simpler, ZK-focused one like RISC-V. This change will significantly enhance zero-knowledge proof functionality, improving both security and scalability.
Simplifying data formats across the protocol: Buterin aims to reduce technical debt by standardizing data formats. This will simplify maintenance, upgrading, and scaling of Ethereum, improving accessibility for developers and reducing complexity in all aspects.
Aiming for a more efficient network: These changes will collectively make Ethereum faster, safer, and more developer-friendly – bringing it closer to Bitcoin's streamlined structure while preserving its unique capabilities as a smart contract platform.
Ethereum vs Bitcoin: A Shift in Design Philosophy
While Bitcoin's design focuses on simplicity, Ethereum has always been about flexibility, hosting decentralized applications and smart contracts. But this versatility has complicated Ethereum's scalability and overall governance.
Buterin's proposal calls for a return to a more minimalist design, drawing inspiration from Bitcoin to make Ethereum simpler for development and more attractive to long-term investors.
Returning to the cyberpunk roots of Ethereum
In his proposal, Buterin also highlights a growing concern: the increasing centralization and financialization of Ethereum. He believes that simplifying Ethereum's core architecture is key to preserving its cyberpunk roots – focusing on privacy, decentralization, and open-source principles.
This vision aims to ensure that Ethereum remains a platform that empowers users rather than becoming overly commercialized or centralized.
Reaction from the crypto community
The crypto community seems to have reacted positively to this.
Prioritizing simplicity now may slow progress, but it will ensure the long-term sustainability of Ethereum and broader developer engagement. It's worth the effort.
— Crypto Terry (@cryptoterry) May 3, 2025
Many believe that this shift aligns Ethereum with the foundational values of blockchain technology and positions it for long-term success.
What's next, what to expect?
So, what's next for Buterin's simplification plan? Over the coming months, he plans to release detailed specifications, gather feedback from the developer community, and begin phased testing of the proposed changes.
These updates will focus on reducing complexity, increasing scalability, and strengthening the long-term sustainability of the network – all while fostering deeper collaboration with the Ethereum community.
This return to basics could change the future of Ethereum. We look forward to it!
