Justin Drake's Vision for Lean Ethereum

On Thursday, the Ethereum Foundation (EF) outlined an ambitious 10-year protocol development plan named "lean Ethereum." Featured in a blog post by Justin Drake, a senior researcher at EF, this vision aims to enhance Ethereum's performance while ensuring 100% uptime and resilience against challenges like quantum computing and state censorship. Drake asserts, "Ethereum is set to become the foundation of the value internet, safeguarding hundreds of trillions over decades and even centuries. Ethereum must endure any challenge... If the internet is operational, Ethereum will be as well." The proposed upgrades target remarkable transaction capabilities, aiming for one billion gas per second and 10,000 transactions per second (TPS) on Ethereum's base layer. Moreover, Layer 2 networks could handle one trillion gas per second and one million TPS. For context, Ethereum's current capacity stands at about 3.75 million gas per second, with a block time of roughly 12 seconds. To realize these goals, Drake presents "bold upgrades across all three L1 sublayers," including a rebranding of the Beam Chain to "Beacon Chain 2.0" focused on consensus, post-quantum advancements for data, and the potential development of EVM 2.0 with the open-source RISC-V instruction set to enhance execution performance. Drake's vision prioritizes a mix of performance abundance while adhering to essential principles of continuity, durability, and simplicity. Furthermore, it emphasizes the utilization of hash-based signatures and zk-VMs to ensure quantum resistance without straining the execution layer. This lean Ethereum vision represents not just a strategic plan but also an aesthetic philosophy centered around minimalism, modularity, and formal verification. Drake beautifully states, "Think of it as an art form, a craft—like Jiro in 'Dreams of Sushi.'" As Ethereum celebrated its tenth anniversary on July 30, it remains the second most valuable blockchain by market cap. The Ethereum Foundation has made changes recently, including appointing two new co-directors, Hsiao-Wei Wang and Tomasz Stanczak. In his post on X, Drake acknowledged the importance of diverse perspectives within the Ethereum community. He also shared a roadmap for tracking the development of lean Ethereum. Disclaimer: The Block operates independently, providing news, research, and data. As of November 2023, Foresight Ventures holds a majority stake in The Block. Please consult with a professional for legal, tax, or investment advice.