Ethereum 
$3,170 researcher Justin Drake has proposed a solution to Layer-1 Blockchain’s scalability issues. This post aroused curiosity about ETH 3.0 in the Ethereum community. In particular, Ambient Finance founder Doug Colkitt pointed out the possibility that this update will include a new consensus model and a native zero-knowledge Ethereum Virtual Machine (zkEVM). According to Colkitt, these developments could lead to the gas limit being removed entirely and nodes being able to process large blocks with only snark verification. In this case, scalability may be limited only by bandwidth.
Colkitt: Native zkEVM Can Make Big Change
Colkitt thinks that adding zkEVM to Ethereum will be a “major” update. This innovation could bring greater scalability to Ethereum by eliminating the need for Layer-2 solutions. If the rumors turn out to be true, there may be a revolutionary change in the Ethereum ecosystem.
Discussions regarding Ethereum’s scalability issues continue. In an interview with Cointelegraph, Consensys CEO Joe Lubin stated that different approaches are being considered to solve these problems. According to Lubin, although they have given up on the idea of execution sharding in the past, new ways have been discovered with zero knowledge and optimistic approaches.
Lubin stated that these approaches can bring more processing power to Ethereum’s Layer-1, so that Ethereum can perform millions of transactions per second. However, it may take several years for this vision to be fully realized.
ETH 3.0 and Community Comments
ETH 3.0 rumors raised questions among some community members. Major updates are typically announced months in advance and filed as Ethereum Improvement Proposals (EIP). However, Drake’s post does not provide clarity on this issue.
As Ethereum’s efforts to achieve its long-term goals continue, the community is carefully monitoring such developments.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
