With the rise in crypto adoption, heavyweights of the crypto ecosystem are moving forward with the aim to improve the existing security standards and speed, in order to gain an edge over others. One of the major influencers in the crypto ecosystem, Vitalik Buterin shared his view to infuse a scalable data layer for detecting and penalizing fraudulent activities.
While citing this development as a probable roadmap for Ethereum 2.0 in the long run, Buterin said,
“In the shorter term, however, we can start working on these techniques immediately by using existing blockchains, particularly those that have lower transaction fees per byte than ethereum, as the data layer.”
Hinting higher costs for Ethereum’s in-house token and blockchain infrastructure, Buterin touched upon the probability of using Bitcoin Cash, owing to its comparatively higher data throughput and lower transaction fees. Additionally, the crypto technologist also highlighted the fact that Ethereum not only possesses the machinery to verify Bitcoin Cash blocks but also stressed upon the developer-friendly BCH community as a positive point. If these techniques become robust for the use case of preventing double-spends, Buterin hinted that it could help them to achieve shorter finality times. He supported this idea by stating,
“There is active interest in the BCH community on strengthening zero-confirmation payments using techniques like Avalanche pre-consensus.”
Avalanche pre-consensus is the most viable answer that offered meta-stability to the transactions by calibrating a number of parameters such as the number of rounds [number of confirmations] and criteria for approving, in order to take the final decision for transactions.
While Buterin’s idea of leveraging BCH stirred a new wave of conversation, one of the crypto enthusiasts, @Egon_01 shared over Twitter,
“Ethereum Co-Founder @VitalikButerin Considers Bitcoin Cash for [#BCH] Data Availability Layer.”
Although Buterin has not yet penned down his plans to use BCH, he claimed Ethereum Classic chain to be a natural fit for this upgrade owing to its much quicker 14 second block time. Finally, Buterin tweeted to clear the fog,
“I think ethereum classic could a great choice for this and better than BCH due to its shorter block times, if it adds (i) flyclient support and (ii) calldata gas cost reduction!”
That said, the launch of Ethereum 2.0 is ideally positioned to be a pioneering step toward making the transaction process more secure and cost-effective in the offing.