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Vitalik Buterin demands scalable solutions for Bitcoin
Ethereum co-founder Vitalik Buterin recently emphasized that the Bitcoin network needs scalable solutions such as Zero-Knowledge-Rollups (ZK-Rollups) to be more than just a payment network. In a Twitter Space, which was organized by Bitcoin developer Udi Wertheimer, the scaling experiments of Ethereum were discussed. A ZK-Rollup is an off-chain protocol that runs on the Ethereum blockchain and is managed by Ethereum Smart Contracts On-Chain. This solution enables more scalable and faster verification of transactions without disclosing sensitive user data. Butterin explained that Ethereum has introduced various scaling solutions over the years to increase the number of transactions. As a successful examples ...
Vitalik Buterin demands scalable solutions for Bitcoin
Ethereum co-founder Vitalik Buterin recently emphasized that the Bitcoin network needs scalable solutions such as zero-knowledge-rounder (ZK-Rollups) in order to be more than just a payment network. In a Twitter Space, which was organized by Bitcoin developer Udi Wertheimer, the scaling experiments of Ethereum were discussed.
A ZK-Rollup is an off-chain protocol that runs on the Ethereum blockchain and is managed by Ethereum Smart Contracts On-Chain. This solution enables more scalable and faster verification of transactions without disclosing sensitive user data.
but said that Ethereum has introduced various scaling solutions over the years to increase the number of transactions. He cited Optimism and Arbitrum as successful examples, which could serve as case studies for Bitcoin. He emphasized that Bitcoin needs further scaling solutions to be more than just one payment network.
scalability has long been an issue for both Bitcoin and Ethereum. While Ethereum has passed from a proof-of-work to a proof-of-stake network, it has also tested various layer 2 solutions such as ZK-Rollups and Plasma.
The Layer 2 solution Lightning Network has significantly improved the scalability of Bitcoin, and recently the Bitcoin Ordinals have brought the network a further benefit. Buterin praised the ordinals and explained that they had brought the developer culture back in the Bitcoin ecosystem.
The Bitcoin Ordinals are a new Layer 2 solution that enables the decentralized storage of digital art on Bitcoin blockchain. This solution has become very popular and has recorded a trading volume of over $ 210 million by the end of June. It seems that the Bitcoin community benefits from these innovative solutions and continues to look for opportunities to improve the scalability of the network.
Overall, these developments show that both Bitcoin and Ethereum endeavor to solve their scalability problems and to open their networks for further applications. It remains exciting to see how both blockchain platforms will develop in the future.