How Ethereum Aims for Simplicity and Resilience to Compete with Bitcoin

On May 3, Ethereum co-founder Vitalik Buterin outlined a vision for Ethereum as the “world computer,” serving as a critical platform for asset storage and record-keeping. To realize this ambition, Ethereum needs to prioritize both scalability and resilience. In his recent blog post, Buterin emphasized the importance of protocol simplicity, a characteristic that has contributed to Bitcoin’s success. He noted that Ethereum has historically struggled with this aspect. The proposed improvements focus on simplifying the consensus layer. The new consensus layer, previously termed the “Beam Chain,” aims to implement proven strategies from consensus theory and ZK-SNARK technology to optimize Ethereum’s framework.

Furthermore, the plan includes minimizing the complexity of the EVM (Ethereum Virtual Machine), advocating for a potential shift to RISC-V architecture to enhance performance. By establishing a maximum code line count as a target, the Ethereum community can work towards achieving a system that mirrors the simplicity of Bitcoin’s codebase while preserving essential historical functionalities. Such reforms are crucial for transforming Ethereum into a more streamlined and efficient platform, fostering trust and global adoption.