Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Ethereum Founder Thinks Synchronous Atomic Composability is Overrated

Ethereum Founder Thinks Synchronous Atomic Composability is Overrated

CoineditionCoinedition2024/06/20 19:46
By:Ikemefula Aruogu
  • Vitalik Buterin says synchronous atomic composability is highly overrated.
  • Buterin does not see the implementation as a crucial feature for cross-L2 transactions.
  • The Ethereum co-founder highlighted users’ most crucial interests in L2 features.

Ethereum co-founder Vitalik Buterin argues that synchronous atomic composability is highly overrated. Buterin stated this in a recent post on X (formerly Twitter), highlighting that it is not among the most crucial features desired by crypto users for cross-L2 transactions.

According to Buterin, crypto users’ fundamental L2 features include the ability to make cross-chain payments and to send coins across blockchains when using dApps from a different chain. The blockchain expert described these issues as practical UX issues that synchrony cannot solve.

Addressing these as UX problems, Buterin explained how blockchain developers can remedy the fundamental issues he identified. The Ethereum co-founder proposed widespread adoption of the ERC-3770 token standard. He noted it would allow the chain to be part of the address, making an address a self-contained “how do you pay me” identifier.

Buterin also suggested addressing the issue with a cross-L2 exchange protocol, like the ERC-7683, so that users can execute cross-chain sends programmatically without needing to determine which specific intermediaries to trust and which APIs to connect to. He also identified a wallet integration solution where sending cross-L2 is done by putting the recipient’s ERC-3770 address into the same text box used for regular sends.

Meanwhile, Buterin also noted that solving technical problems can make the overall solution much more efficient, especially by making cross-chain swap markets more accessible to liquidity providers. He cited improvements that have reduced withdrawal times from one week, as seen with optimistic rollups, to one hour for ZK rollups today, to one slot in ideal ZK-rollups with proof aggregation. However, he thinks there are significant unclaimed gains that do not require achieving synchrony.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Attention is value, and AI Agents will continuously attract users and capital

To truly grow, AI entities cannot be limited to promoting meme coins.

Chaincatcher2024/11/28 05:00

Flash Thursday: Buy crypto with a credit/debit card for zero fees

Every Thursday, enjoy zero fees when using your local fiat currency with a credit or debit card ( Visa, Mastercard, Google Pay Apple Pay)! Buy Crypto Promotion period: Every Thursday 8:00 PM – Friday 8:00 PM (UTC+8) Promotion rules Sign up for a Bitget account or log in to your existing account. Na

Bitget Announcement2024/11/28 04:10