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Jakarta, Pintu News – Vitalik Buterin, the founder of Ethereum (ETH), recently called for important changes in the withdrawal system on the Layer 2 (L2) network. In a post on X, Buterin emphasized the need to speed up withdrawal times to less than an hour.
The main concern is that long waiting times may encourage users to look for alternative, less secure solutions, which could ultimately threaten the security of Ethereum (ETH) itself.
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Buterin revealed that long wait times in the withdrawal process at L2 encourage users to turn to solutions that have unacceptable trust assumptions, such as multisig and MPC (Multi-Party Computation).
This, in his opinion, detracts from the essence of using L2 which should provide better security and efficiency compared to an independent L1 blockchain. Buterin emphasized that these changes need to be made immediately to maintain the integrity and trust in the Ethereum (ETH) system.
In this context, recent research from L2BEAT, a platform that studies L2 networks, shows that some networks such as Base, Optimism, Scroll, Unichain, Kinto, and Inco have met the new Stage 1 requirements. While this is a step forward, Buterin emphasized that further improvements, especially in withdrawal speed, are crucial.
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Buterin suggested that L2 networks switch from optimistic proof systems to ZK (Zero-Knowledge Proofs) proof systems that can validate transactions quickly and more securely. He also proposed a 2-in-3 hybrid model that combines ZK, OP (Optimistic Proofs), and TEE (Trusted Execution Environment) systems.
According to Buterin, two of these three systems (ZK and TEE) can provide instant withdrawals without compromising security. In addition, Buterin also highlighted the mature development of the ZK-EVM proof, which shows progress in formal verification.
However, he acknowledged the high cost challenges associated with gas fees for proof submission, which still need to be addressed to achieve an optimal solution.
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This development has had a positive impact on the value of Ethereum (ETH), which is currently trading at $4,047.92, up 5.90% in the last 24 hours. With increased withdrawal speeds on L2, Buterin believes that Ethereum (ETH) can further cement its position as the economic center of the crypto ecosystem.
This will not only increase user confidence but also encourage long-term adoption of Ethereum (ETH) as the platform of choice for various decentralized applications.
The initiative proposed by Vitalik Buterin to speed up the withdrawal process on the Layer 2 network shows his commitment to the continuous improvement of the Ethereum (ETH) infrastructure. By adopting the latest technologies and fixing existing weaknesses, Ethereum (ETH) has great potential to continue growing and maintaining its position as a leader in the blockchain industry.
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