Cheap, unstoppable private transactions on Ethereum.
Glamsterdam is making progress. At this point, it’s clear that it will help scale Ethereum significantly, from 60M gas/block today to at least 200M/block (so more than 3x).
If you thought gas was cheap on Ethereum today, well you were right but also it’s going to get even cheaper soon.
So what comes next? Next is Hegotá, and I think it is a great opportunity for Ethereum to double down on CROPS.
Censorship Resistance. FOCIL is already scheduled for inclusion in Hegotá. What this means is that all transactions going through the public mempool will benefit from extremely high inclusion guarantees. Ethereum is reliable and unstoppable in part because it gives you strong guarantees that your transaction will be included, no matter where it comes from.
Open Source. Everything about the Ethereum protocol is open source and should stay that way, so not much to add there.
Privacy. Today, transactions from privacy protocols on Ethereum have to be sent to a trusted third party (a relayer/broadcaster) that submits them and pays gas, without linking the activity to the user's account.. This is an obvious censorship vector: if the relayer is not online or doesn’t want to process your transaction, there is no other way for it to go through.
The good news is: Frame transactions (EIP-8141) is already considered for inclusion in Hegotá, and if you add keyed nonces (EIP-8250) you can get rid of relayers altogether and have fully trustless, censorship resistant private transactions going through the public mempool. The last piece is recent roots (EIP-8272), which ensures private transactions can always benefit from FOCIL inclusion guarantees.
But protocol changes alone aren't enough: we also need immutable, permissionless privacy protocols, and wallets that don't leak your identity (Kohaku 👀).
Security. Frame transactions are good for privacy on L1, and they also give us the modularity we need to unlock PQ signatures on the EL, and to build important security features like post-transaction assertions (EIP-7906). I usually think of it as the "last transaction type" you can build on top of.
If we manage to ship all this in Hegotá, Ethereum will consolidate its unique position as a network you can rely on 100% of the time (literally), without having to trust anyone other than the 10,000 nodes distributed across the world to transact, swap, transfer, lend, borrow and trade privately and securely, no matter who you are or where you come from.
What about after Hegotá? We have a lot to do, and I think the best place to capture how we think about priorities is the strawmap but I’ll just mention a few:
- Keep scaling without forcing nodes to hold terabytes of data, which means new ways of storing and serving state
- Accelerate Ethereum’s transition to PQ cryptography across all layers of the protocol (consensus, data and execution)
- Deliver faster finality, so transactions settle in seconds rather than minutes
I don't think people realize the magnitude of these changes for adoption.
Links below 🔗👇
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