Ethereum Foundation's Top Researchers Discuss 'Future' of Ethereum in 'Ask Me Anything' Session
In a recent Reddit AMA, top Ethereum Foundation researchers Vitalik Buterin, Justin Drake, and Dankrad Feist shared important updates on Ethereum's development roadmap. The discussion comes as Ethereum prepares for a major upgrade called Pectra, which is expected to bring significant improvements to the blockchain since the Dencun upgrade and transition to proof-of-stake.
What's New with the Pectra Upgrade
Justin Drake, a top researcher at the Ethereum Foundation, confirmed that the Pectra update will be rolled out in the "coming months." It will be a major technological step, with the first phase of Pectra focusing on doubling the number of "blob" transactions per block from three to six. Drake explained that this will “crush the blob fee market” – a key part of Ethereum’s value-accumulation mechanism by reducing the cost of storing data.
Blobs, introduced in the Dencun update, allow for temporary storage of transaction data, thereby reducing the processing costs for Layer 2 solutions. Doubling the number of blobs per block makes Layer 2 more cost-effective and scalable.
Strengthening Layer 1
Ethereum Foundation researchers have expressed their determination to strengthen the base layer (Layer 1), especially in terms of revenue generation and data availability. While some in the Ethereum community have called for an increase in “base fees,” the researchers see this as a short-sighted idea. Instead of focusing on increasing fees, they propose that expanding the data capacity on the blockchain will help the network accumulate more value in the future.
Drake and Dankrad Feist argue that by improving the availability of data from the base layer, Ethereum can create opportunities to charge for data services, while also helping to scale the network without compromising the sustainability of Layer 1 revenue.
Ethereum's Future Vision and "End Game"
Vitalik Buterin also shared his long-term vision for Ethereum. He believes that Ethereum is slowly approaching a "endgame" phase of technological development, with the pace of research slowing down and focusing on incremental improvements rather than major changes. Buterin emphasized that Ethereum's goal is to maintain neutrality and ensure sustainable development for the entire ecosystem.
An important aspect of Ethereum's future is the integration of native scaling solutions, such as native rollups. These will be solutions that scale Ethereum from within the base layer, rather than relying on current Layer 2 solutions like Optimism or Arbitrum. Justin Drake has emphasized that implementing native rollups will bring huge benefits and be easier to implement than current solutions.
Conclusion
Despite the challenges and controversies surrounding scaling and revenue management, the Ethereum Foundation’s top researchers remain optimistic about the future of Ethereum. The Pectra upgrade promises to be a major step forward, while long-term solutions like native rollups and improved data capabilities will help the network continue to grow and accumulate value.
