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Researcher Justin Drake’s recent social media post has ignited speculation about potential solutions to Ethereum’s scalability challenges. Drake announced he would reveal an “ambitious” initiative for Ethereum 
$2,474, considering a “ground-up” redesign of the consensus layer. This move is interpreted as a step towards addressing the network’s scalability issues.
Rumors Surrounding ETH 3.0
Following Drake’s announcement, rumors about the ETH 3.0 upgrade began circulating within the Ethereum community. Doug Colkitt, founder of Ambient Finance, mentioned a rumor that the ETH 3.0 announcement might involve a “second merge targeting new consensus” and a native zero-knowledge proof Ethereum Virtual Machine (zkEVM).
“The gas limit could be completely eliminated. Nodes only need to do snark verification, allowing for arbitrarily sized blocks. The only remaining scalability limit would be bandwidth.” – Doug Colkitt
While some in the community dismiss the ETH 3.0 speculation, others believe this upgrade could represent a significant advancement. One community member labeled the rumor as “100% nonsense,” suggesting that related Ethereum Improvement Proposals should have been filed.
Potential Solutions
Joe Lubin, CEO of Consensys, addressed potential solutions to Ethereum’s scalability issues. Lubin indicated that the Ethereum ecosystem might re-evaluate a concept known as execution sharding, suggesting the possibility of creating similar execution shards using a zkEVM on layer-1.
“The interesting aspect of using layer 1 this way lies in the fact that we abandoned the execution sharding idea a few years ago. We needed to open up this different exploration and facilitate the return of many things.” – Joe Lubin
Lubin added that implementing these approaches on Ethereum’s layer-1 could “improve everything.” He noted these methods could enable Ethereum to process millions of transactions per second, though achieving such an environment might take several years.
It is important to note that discussions and speculations regarding Ethereum’s scalability solutions represent promising developments for the future of blockchain technology. The statements and proposed innovations reflect the community’s ongoing efforts and innovation in this field.
