The Ethereum Basis (EF) is asserting a brand new effort aimed toward making the Ethereum ecosystem really feel extra like a single chain, with out compromising its core cypherpunk rules.
In a weblog submit revealed on Friday, Aug. 29, the muse outlined a brand new initiative referred to as the Ethereum Interoperability Layer (EIL), which might be centered on “making Ethereum really feel like one chain once more,” with out compromising on the community’s core values, akin to censorship resistance, open supply improvement, privateness and safety.
“EIL is a trustless cross-L2 interop layer, enabling seamless multichain transactions whereas protecting the consumer in management, preserving privateness and Ethereum-level censorship resistance,” the Ethereum Basis mentioned within the submit.
A design doc for the brand new layer, which might permit seamless cross-Layer 2 (L2) transactions, is ready to be revealed publicly in October, the weblog submit notes.
For context, at present, when a consumer withdraws from Base, Optimism or some other L2 chain, the funds aren’t out there on Ethereum mainnet straight away. There is a built-in 3.5-day problem interval to make sure every part is safe, per information from L2BEAT.
Lowering Wait Time
The EF’s weblog submit additionally outlined ongoing analysis on lowering Ethereum’s finality time “from in the present day’s 13-19 minutes to the order of seconds,” and efforts to develop information availability by way of applied sciences akin to danksharding — a technique to make it cheaper and extra environment friendly for rollups to submit information on Ethereum — although the timeframe for these stays unclear.
In early August, Ethereum co-founder Vitalik Buterin argued on X that attaining near-instant withdrawals would require changing optimistic proof techniques, which take a number of days to finalize, with zero-knowledge proof techniques.
Buterin notably proposed a “2-of-3” strategy combining ZK proofs, optimistic proofs, and trusted execution environments to spice up each the velocity and safety of L2s in a bid to make them environment friendly sufficient in order that customers wouldn’t want to make use of cross-chain bridges simply to keep away from lengthy waits when shifting funds.
