Podcast Summary
Ethereum's new technologies for scalability and efficiency: Ethereum's new techs like zk-SNARKs and type 1 zk EVMs could lead to virtually limitless and free compute power, optimistic roll-ups to zk roll-ups, multi-threaded EVMs, and Ethereum validators on small devices. A multisig wallet sponsor, Safe, is proposing a standard for smart contract wallets and organizing a conference.
Ethereum is working on new technologies like zk-SNARKs and type 1 zk EVMs to scale its blockchain and make it more efficient. These technologies could enable optimistic roll-ups to be converted to zk roll-ups, allow for multi-threaded EVMs, and enable Ethereum validators to run on small devices like smartwatches. This is important because it could lead to virtually limitless and free compute power on Ethereum's layer 1, making it a significant development for the future of the blockchain. Additionally, Safe, a multisig wallet sponsor of the podcast, is proposing a standard for smart contract wallets and organizing a conference on the topic. This could help create a unified standard for the industry and transition it towards smart contract wallets. Overall, these advancements in Ethereum and the crypto industry are worth paying attention to as they could lead to significant improvements in scalability and efficiency.
Ethereum Scaling Solutions: Mantle and Arbitrum Lead the Way: Mantle and Arbitrum are transforming Ethereum with faster, cheaper transactions via layer 2 and layer 3 technologies. Mantle uses Eigenlayer for 80% gas fee reduction, while Arbitrum offers intuitive builder experience with over 100 projects. Future of Ethereum discussed: snarkifying EVM for wider accessibility and scalability.
Mantle and Arbitrum are leading the way in Ethereum scaling solutions, offering faster transaction speeds and significantly lower gas fees through their layer 2 and layer 3 technologies. Mantle, a DAO-led ecosystem, uses Eigenlayer's data availability solution to reduce gas fees by 80% and provide a more stable foundation for its applications. Arbitrum, on the other hand, provides a builder experience that's intuitive, familiar, and fully EVM-compatible, with over 100 projects already deployed on its platform. Moreover, the conversation between Justin Drake and Brian Redford touched upon the future of Ethereum and the concept of "snarkifying" the EVM. This refers to the idea that once Ethereum's EVM and beacon chain are fully optimized, compute won't be a bottleneck for Ethereum. This means that validators won't need powerful CPUs and can even validate transactions on devices like smartwatches. It also has implications for clients and high-security rollups, making Ethereum more accessible and scalable for everyone. In summary, Mantle and Arbitrum are revolutionizing the Ethereum landscape by offering faster and cheaper transactions, while the conversation between Justin Drake and Brian Redford highlighted the potential future of Ethereum and the concept of snarkifying the EVM. These advancements have the potential to make Ethereum more accessible and scalable for developers, enterprises, and users alike.
Faster than expected progress of Type 1 zkVMs on Ethereum: Users may validate transactions and stake on Ethereum using devices as small as smartphones or Apple Watches, making Ethereum more accessible and decentralized, with advancements like data availability sampling reducing bandwidth requirements and eliminating the need to download entire blocks.
The development of Type 1 zkVMs, which will allow for the use of zk-SNARKs to validate transactions on Ethereum, is progressing faster than expected and could significantly decrease the hardware requirements for users to interact with Ethereum. This means that users may be able to validate transactions and stake on Ethereum using devices as small as smartphones or Apple Watches, making Ethereum more accessible and decentralized. Additionally, the implementation of technologies like data availability sampling could reduce bandwidth requirements and eliminate the need to download entire Ethereum blocks. These advancements, collectively referred to as "dank sharding," are expected to occur within the next few years and will have a major impact on the accessibility and efficiency of Ethereum.
Advancements in cryptography will improve Ethereum's accessibility and scalability: Ethereum's accessibility will enhance with easier access and website-like security guarantees. Scalability will potentially remove gas limits, increasing transactions per second. Layer 2 solutions will continue, but Layer 1 will eventually catch up, increasing overall throughput.
Ethereum's accessibility and scalability are set to improve significantly due to advancements in cryptography, specifically Zero-Knowledge (Zk) Technologies. These technologies will enable easier access to Ethereum with guarantees similar to website security, requiring minimal work and data download. The impact on Ethereum's scalability includes potentially removing the gas limit for computation, allowing for increased transactions per second on the main net. The shift towards Layer 2 solutions like roll-ups will continue for a few years, but eventually, Layer 1 will catch up, offering similar benefits. This means Ethereum will be able to increase its gas limit and introduce an opcode for verifying validity proofs, enabling multiple instances of the Ethereum Virtual Machine (EVM) and increasing overall throughput. However, the EVM's inherent sequential computation will likely limit its ability to reach extremely high transaction rates.
Ethereum's transition to multi-core EVM with enshrined rollups: Ethereum is scaling its network by introducing multiple instances of the EVM, enabling increased capacity and efficiency, similar to the transition from single-core to multi-core CPUs
Ethereum is working towards scaling its network by introducing multiple instances of the Ethereum Virtual Machine (EVM), a concept referred to as "enshrined rollups." This multicore moment in Ethereum's evolution is compared to the transition from single-core to multi-core CPUs. With the addition of a new opcode, anyone can create new instances of the EVM, leading to increased capacity and efficiency. This technology is being pursued by projects like RiskZero and their platform Zeth, which is a Type 1 zk EVM. Zeth is an implementation of the Ethereum Virtual Machine built using Rust, and it processes the full nature of Ethereum blocks and proves their correctness. Unlike other zk EVMs, Type 1 EVMs make no compromises and adhere strictly to the Ethereum specification. This transition towards a more scalable Ethereum network is an exciting development in the blockchain space, as it enables the network to handle increased capabilities and transactions.
The pursuit of EVM compatibility for zkEVMs: Teams are working to make zkEVMs more EVM-compatible, offering benefits like access to tooling and network effects, but facing significant technical challenges. Rapid improvements suggest progress towards exact equivalence in the coming years.
Different zkEVM teams implement their rollups in various ways, with some prioritizing compatibility with the Ethereum Virtual Machine (EVM) over others. For instance, Type 1 zkEVMs aim to be more EVM-compliant, whereas Type 2 zkEVMs take unique approaches to Merkelize state and adjust gas schedules. These differences impact their potential to become enshrined rollups. The journey towards EVM compatibility is a continuous process, with teams starting with smaller modifications and eventually striving for exact equivalence. This pursuit offers benefits like access to tooling and network effects, but comes with significant technical challenges. The technology is improving rapidly, with advancements akin to Moore's law. In the coming years, it's possible that zkEVMs will become more EVM-compatible, making them viable candidates for enshrined rollups. Regarding the background, these teams have been working in stealth mode for a while, only recently announcing their projects. The lack of public knowledge led to questions when they emerged, with Vitalik Buterin expressing curiosity about their team's background. Overall, the zkEVM landscape is evolving, with teams working to make their rollups more EVM-compatible while addressing challenges related to bridges, performance, security, and licensing.
Introducing Zeth: A New Generation of zk EVM: The Risk 0 team created Zeth, an open-source type 0 zk EVM, to provide performance, upgradability, and scalability for Ethereum block verification. Utilizing Snarks technology and partnerships with other projects, they were able to achieve this in a short timeframe.
The team behind Risk 0 introduced Zeth, a fully open-source type 0 zk EVM built on the risk 0 zk EVM and Bonsai. Zeth aims to be a performance, upgradable, and scalable way for developers to zk prove any Ethereum block, marking the next generation of zk and EVM. The team started with a focus on Snarks technology but recently shifted towards creating a platform for Ethereum block verification. They utilized the hard work of other projects in the space, such as Optimism, to bring this to fruition. This partnership bridged the gap between being a technology company and a crypto or Ethereum company. The team's innovative technical approach, which required some modifications to the Merkel Patricia tree and database back end, was achieved with the help of a small team in a short timeframe. They are now able to zk prove Ethereum blocks exactly as they are, with room for further performance improvements.
Leveraging zk-proofs and optimistic rollups for Ethereum's scalability and security: Through partnerships with teams like Optimism, Ethereum is utilizing zk-proofs and optimistic rollups to create fraud-proof mechanisms, reduce costs, and significantly increase scalability and security.
Through the use of zk-proofs and optimistic rollups, projects like Optimism are able to create fraud-proof mechanisms and significantly reduce the time it takes to access liquidity and move assets on Ethereum. This is achieved by taking existing systems, such as an EVM client, and introducing new intermediate steps, like RISC-5, which simplifies the process and reduces costs. RISC-5 is a small, minimal instruction set architecture, similar to the EVM but with fewer opcodes, making it easier to reify in hardware. By creating a zk VM, Optimism and other teams can process these lower-level instructions and create zk-proofs, effectively providing a fraud proof mechanism for optimistic rollups. This partnership between Optimism and other teams will lead to faster access to liquidity and the potential for Ethereum to eventually become factoid hyperscale. In essence, the use of zk-proofs and optimistic rollups, along with the simplification brought by abstraction, allows for significant advancements in Ethereum's scalability and security.
Rust programs can now be directly compiled to zkVM for faster and more accessible SNARK generation: Team created a RISC-5 based zkVM that compiles Rust programs directly to it, reducing time and effort for SNARK generation, and allowing developers to work with higher-level languages like Rust and optimize both software and hardware.
A team has developed a RISC-5 based zkVM (Zero-Knowledge Verifiable Machine) that can compile Rust programs directly to it, making the process of proving the correctness of complex programs more accessible and performant. This innovation significantly reduces the time and effort required to go from a Rust program to a SNARK (Succinct Non-Interactive Argument of Knowledge), which was previously thought to be at least 5 years out. The team achieved this by focusing on a minimal set of instructions and leveraging the existing work in the RISC-5 and LVM (Loadable Virtual Machine) communities. This breakthrough allows developers to work with higher-level programming languages like Rust, which is popular in the blockchain space, and take advantage of optimizations at both the software and hardware levels. The performance of the ZKVM varies depending on the target hardware, with support for CPUs, GPUs, and other hardware. The team has already seen significant performance improvements and plans to continue optimizing the system. This development marks a significant step forward in the field of zk-SNARKs and the practical application of zero-knowledge proofs.
Efficient Proof Systems in Ethereum: ZK-SNARKs and Continuations: Ethereum is improving proof systems with ZK-SNARKs, allowing desktop GPUs to run them instead of massive rigs. Continuations split up large proofs and allow multiple parties to prove bits. Performance optimizations and GPU usage lead to significant gains, but we're not yet at running Ethereum validators on smartwatches.
The Ethereum space and blockchain technology are making significant strides towards more efficient and consumer-grade proof systems, like ZK-SNARKs. These proof systems can now run on desktop GPUs instead of massive ZK proving rigs, but they come with limitations such as the inability to run large programs. To address this, a system called continuations was developed, which allows splitting up large proofs into smaller ones and having multiple parties prove bits of them. Performance optimization, particularly in recursion circuits, and the ability to run proving computation on GPUs instead of CPUs, have led to significant gains. However, we're still far from running an Ethereum validator from a smartwatch, as proving will likely be done on powerful machines off-chain, and verification can be done quickly on the device due to the small size of snarks. Performance matters because it affects the speed at which EVM blocks can be made, with the goal being sub-second proof latency for certain use cases. The ultimate goal is to shrink the required computing power for proving, potentially leading to the use of ASICs.
Ethereum's Proof of Stake Transition and Hardware Acceleration: Ethereum's PoS transition brings significant improvements in proof latency through finite fields, GPU computation, and recursion. Hardware acceleration, including ASICs, will make a big impact in the next few years. MetaMask's new portfolio feature and Stater's ETHX token offer more efficient crypto management and staking options.
The Ethereum network's transition to Proof of Stake (PoS) and the use of ASICs for validation is leading to significant improvements in proof latency, which is crucial for the network's scalability. This improvement comes from three main areas: the use of finite fields for proof systems, leveraging GPUs for computation, and recursion to parallelize and distribute computation. Hardware acceleration, including the development of gigahertz-level ASICs, is expected to make a significant impact in the next 3-5 years. Additionally, MetaMask has introduced a new portfolio feature that allows users to manage all their crypto needs in one place, and Stater's ETHX liquid staking token offers lower capital requirements and higher returns for Ethereum staking. Overall, these advancements demonstrate the ongoing innovation and growth in the Ethereum ecosystem.
Security challenges in DeFi and zk-rollups: Uniswap mobile wallet offers a secure solution for accessing DeFi, but ensuring security in DeFi and zk-rollups is complex and ongoing. The team behind Uniswap prioritizes security, using RISC-5 instruction set and trusting existing infrastructure, with a goal to apply formal verification tools.
Ensuring security in the rapidly evolving world of decentralized finance (DeFi) and zk-rollups is a complex and ongoing challenge. The Uniswap mobile wallet offers a secure solution for accessing DeFi directly, but the topic of security, particularly in the context of zkVMs and their potential vulnerabilities, is a significant concern. The team behind the project recognizes this, having a deep background in information security. They've chosen the RISC-5 instruction set for its formal specification and smaller audit surface, but trust is also placed in existing infrastructure like the Rust compiler and LLVM. The ultimate goal is to apply formal verification tools to prove the correctness of the system, but there's also the challenge of compiling from Rust to RISC-5. Despite potential bugs, the hope is that the investment in security in existing ecosystems will help mitigate risks as large-scale rollups are built.
Blockchain's Impact on Security Technologies: Blockchain drives advancements in formal verification for compilers and increases ZK technology's significance due to high security requirements. Open-source ZKVM project Risk 0, aiming to improve L2 solutions, is committed to full open-source but explores monetization strategies.
The blockchain space is accelerating the development of crucial security technologies, such as formal verification for compilers, due to its high security requirements. For instance, the Viper compiler had a bug that caused numerous issues, and applying similar tools to Rust compilers could be a potential solution. ZK technology, which is a niche academic pursuit without blockchain, is now gaining significant attention due to its necessity in the blockchain ecosystem. Regarding licensing, open-source components of risk 0, a ZKVM project, are currently licensed under Apache 2.0, and there are plans to dual license with MIT to cater to different communities' preferences. The team is committed to fully open-sourcing the entire system but is waiting for security audits before releasing the final components. Risk 0, which aims to "snarkify" popular L2 solutions like Optimism, seems to be a public good, and the team is yet to define a clear business model. However, they have investors and VCs who expect a return, so the team is exploring potential monetization strategies in this space.
Revolutionizing crypto infrastructure with Bonsai and ZK proofs: Bonsai, a new app dev platform on ZK, aims to decentralize infrastructure and apps without relying on tech giants, eventually becoming an open-core model with a decentralized network. ZK proofs, the tech behind it, has potential to fully decentralize infrastructure and gain investment and attention in crypto space.
Bonsai, a new application development platform built on the ZK application development platform, zk, is set to revolutionize the crypto landscape by allowing for decentralized infrastructure and applications without relying on centralized services from tech giants. This platform, which is currently a centralized SaaS offering, will eventually become an open-core model with a decentralized network. Bonsai is expected to act as a marketplace for ZK proofs, and it may also offer features like continuations for proving tasks up to a certain point and resuming them later. The technology behind Bonsai, ZK proofs, has the potential to fully decentralize infrastructure and applications, and it's already gaining significant investment and attention in the crypto space. In the near future, we can expect to see the technology being applied in layer 2 solutions, rollups, and DeFi projects, with gaming being a potential long-term application. The ultimate goal is to create a fully proved-out, snarkified ZK EVM on Ethereum mainnet, but that may still be a few years away. Overall, Bonsai represents an exciting step forward in the decentralization of infrastructure and applications in the crypto space.
Exploring Ethereum's future plans with zk-proofs: Ethereum's future involves solving fundamental resources issues with consensus and cryptography using zk-proofs, aiming to reduce the need for economics in consensus and make the chain more resilient.
The advancements in making crypto applications more user-friendly will lead to increased demand for their capabilities and the role of zk-proofs in enabling off-chain computations and on-chain attestation will be crucial. Brian's company, Kadena, aligns with Ethereum's values of integrity, transparency, and agency. The idea of hyperscaling Ethereum using zk-proofs has always been part of the plan, and Ethereum's future vision involves solving fundamental resources, such as computation, with consensus and cryptography. The latest tool in this regard is zk-proofs, which can address data availability, finality, and even liveness issues through advanced cryptographic techniques. The ultimate goal is to reduce the need for economics in consensus and make the chain more resilient, even in extreme scenarios.
Exploring the Future of Crypto: zk-SNARKs and Advanced Technologies: We're transitioning to more secure and complex crypto technologies, like zk-SNARKs, which offer increased privacy and security. This shift requires advanced technologies and carries risks, but the potential rewards are significant.
We're witnessing a shift towards more secure and complex cryptographic technologies, such as zk-SNARKs, which offer increased privacy and security. This transition requires advanced technologies like quantum computers, but in the meantime, we're benefiting from the enhanced security these technologies provide. The future of crypto lies in this frontier, though it comes with risks, as all investments do. It's important to remember that none of this discussion constitutes financial advice, and crypto investments carry the risk of losing your initial investment. Nonetheless, the Bankless community is excited to embark on this journey together. In essence, we're moving towards a more secure and complex crypto ecosystem, with technologies like zk-SNARKs leading the way. This shift requires advanced technologies and carries risks, but the potential rewards are significant. It's crucial to approach this frontier with caution and knowledge, and remember that none of this discussion should be taken as financial advice. The Bankless community is here to explore this new landscape together, and we're glad you're joining us on this journey.
