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The Ethereum layer-1 chain should eventually “stop changing completely,” to provide stability on the base layer, Ethereum cofounder Vitalik Buterin said in a conference in Seoul on Thursday.
See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge
Fast facts
- “If a layer-1 tries to do everything, there are a lot of risks that can come out of that,” Buterin said in a keynote speech at BUIDL Asia 2022 conference.
- According to Buterin, the layer-1 base chain must focus on establishing decentralization, resist censorship and ensure security and reliability, while the layer-2 protocols are those that change more quickly.
- “The layer-2 will still get all of the reliability properties from the L1 it’s sitting on top of,” the Ethereum cofounder said.
- The Ethereum blockchain has been the center of attention in recent days due to the highly anticipated “The Merge” of the existing proof-of-work (PoW) chain with the proof-of-stake (PoS) Beacon chain in the network’s move to the less energy-intensive consensus mechanism.
- “Next week, we’re expecting to see the Ropsten testnet,” Buterin said. “This is the last testnet merge before ‘The Merge’ of the Ethereum network.”
- If all things go to plan, “the mainnet merge will happen in mid-to-late September,” Buterin said.
See related article: Vitalik Buterin says Ethereum to be 55% complete post-merge