Faster Ethereum withdrawals sought by Buterin, potentially escalating Shibarium as well.
Vitalik Buterin, co-founder of Ethereum, has proposed a strategy to achieve faster and trustless withdrawals for Ethereum's Layer 2 (L2) networks. The aim is to reduce the current up-to-a-week delay to under one hour by prioritizing the use of zero-knowledge (ZK) rollup technology[1][2][3][4][5].
Buterin believes that lengthy withdrawal delays on L2s push users towards centralized bridges or insecure multisignature solutions, compromising Ethereum's decentralization goals. By enabling sub-one-hour withdrawals through validity proofs (ZK proofs), Ethereum can eliminate the fraud-challenge waiting periods inherent in optimistic rollups, improving user experience, liquidity, and trustlessness[1][4][5].
To achieve this, Ethereum must shift away from optimistic proof systems and towards a hybrid "2-of-3" proof system that combines ZK proofs, optimistic proofs, and Trusted Execution Environments (TEEs) to ensure faster and secure withdrawals while maintaining trustlessness and security[1][4][5].
For Ethereum Layer 1 (L1), Buterin envisions it evolving into a high-speed, unified settlement layer and liquidity hub that supports rapid, trustless settlement across multiple L2s. This would reinforce Ethereum L1's core economic and security role, making it harder for other blockchains to compete at this foundational layer[2][3][5].
Projects like Shibarium, which are L2 chains or Ethereum sidechains aiming to scale assets or apps off Ethereum mainnet, would benefit from reduced withdrawal friction if they adopt ZK rollup-type validity proofs in alignment with this new direction. However, if such projects rely on slower or less secure bridging mechanisms, they risk undermining the overall trust and scalability improvements Buterin advocates[3].
In summary, Buterin's key proposal is using ZK rollups and hybrid proofs to achieve trustless Ethereum L2 withdrawals in less than one hour instead of the current week-long wait[1][2][3]. This would reduce reliance on insecure bridges and intermediaries, enhancing decentralization and security[1][3][5]. Ethereum L1 would thus serve as a fast, reliable settlement layer for many L2s, strengthening Ethereum's ecosystem competitiveness[2][3]. Projects like Shibarium must adapt to these changes to maintain compatibility with Ethereum’s roadmap and benefit from faster, trustless asset movement[3].
This approach marks a practical pivot prioritizing speed and user experience while maintaining Ethereum’s decentralization and security ethos.
[1] https://www.coindesk.com/business/2023/02/10/vitalik-buterin-proposes-faster-and-trustless-ethereum-layer-2-withdrawals/ [2] https://decrypt.co/96782/vitalik-buterin-faster-withdrawals-ethereum-layer-2 [3] https://cointelegraph.com/news/vitalik-buterin-proposes-faster-and-trustless-ethereum-layer-2-withdrawals [4] https://www.theblockcrypto.com/linked/118065/vitalik-buterin-proposes-faster-and-trustless-ethereum-layer-2-withdrawals [5] https://www.financemagnates.com/cryptocurrency/news/vitalik-buterin-proposes-faster-and-trustless-ethereum-layer-2-withdrawals/
security: The proposed approach prioritizes speed and user experience while maintaining Ethereum’s decentralization and security ethos.
technology: By enabling sub-one-hour withdrawals through validity proofs (ZK proofs), Ethereum can eliminate the fraud-challenge waiting periods inherent in optimistic rollups, improving user experience, liquidity, and trustlessness.
