Vitalik Buterin Advocates for Cross-Layer Standardization to Unify Ethereum’s L2 Ecosystem

Ethereum co-founder Vitalik Buterin has recently called for the development of standardized decentralized protocols to facilitate smoother asset transfers between Layer 2 (L2) solutions within the Ethereum ecosystem.

In a tweet, Buterin emphasized the importance of integrating such protocols into universal wallet interfaces. He believes that infrastructure should be prioritized before delving into more complex functionalities. Notably, Buterin highlighted the need to enhance the user experience within the L2 space, aiming to achieve a level of cohesion comparable to Layer 1 (L1).

The biggest user experience issue is that the L2 Cosmos doesn’t feel ‘like one unified Ethereum.’ It’s much better than a year ago, but still far from perfect.

— vitalik.eth (@VitalikButerin) May 21, 2024

Buterin suggested prioritizing the standardization and infrastructure development of basic functionalities such as token transfers, Ethereum Name Service (ENS) integration, and key modifications to smart contract wallets.

Moreover, Buterin acknowledged the differences in security and decentralization between L1 and L2 solutions. He pointed out that L1 benefits from mature light clients and a proven stability record, while L2 solutions are still developing in these areas.

The Ethereum co-founder also advocated for improvements in proof systems, particularly urging the adoption of phase one rollups. This initiative aims to enhance the security and operational consistency of the L2 networks, ultimately forming a stronger, more practical Ethereum ecosystem.

In another development, Buterin recently submitted a new Ethereum Improvement Proposal (EIP), known as EIP-770. The proposal focuses on optimizing transaction costs within the Ethereum network. It introduces a new gas category specifically for transaction call data.

Call data in Ethereum refers to the data transmitted to smart contracts during transaction execution. Introducing a dedicated gas type for calldata means that the Ethereum network will allocate different costs for the data included in transactions, separate from the costs associated with executing smart contract code or data storage.

As of the latest update, the price of Ethereum (ETH) has seen a significant increase, rising over 17% in the past 24 hours. The current trading price is $3,658. The trading volume has surged by 244%, further amplifying this bullish trend, indicating that the momentum may continue. Notably, during this period, ETH’s highest price was $3,719.25, and its lowest was $3,078.06.

Sentiment: Positive