When I read the article Vitalik recommended, I initially thought it might be misinterpreted as suggesting the delisting of Ethereum.
However, it explicitly clarifies that there’s no intention to delist or abandon Ethereum.
On the contrary, the piece articulates a plan to evolve Ethereum into a more robust and sustainable blockchain.
■ What did Vitalik say?
1. Redesigning Ethereum’s transaction model to focus on an initial privacy layer
Simply hiding on-chain information is not sufficient, as metadata can leak from the mempool and network layers.
Phase 1 establishes the foundation for end-to-end privacy by integrating confidential transactions, initial mempool encryption, basic MEV resistance, network anonymity, and significant user experience (UX) improvements.
2. Expanding Phase 1 to extend privacy from ETH transactions to all tokenized assets
Incorporating confidential ERC-20 transfers, shielded NFT ownership, and privacy-focused Layer 2 standards, this phase targets comprehensive token privacy across Ethereum and its broader ecosystem.
3. Extending Ethereum’s programmable capabilities into the private domain
Through confidential execution, protection of smart contract logic, and the provision of efficient cryptographic primitives via dedicated precompiles, Ethereum lays the groundwork for a privacy-centric dApp and DeFi ecosystem without compromising security or composability.
4. Embedding Ethereum’s privacy as a protocol-level feature rather than an application-layer function
By leveraging deeply integrated shielded pools, secure cross-layer transactions and robust private/fair order flow mechanisms, Ethereum transitions to a privacy-first execution environment while preserving scalability and decentralization.
5. Ensuring privacy that prepares for the post-quantum era
By shifting critical cryptographic technologies to zkVM-based systems, enabling full privacy and universal smart contract execution, and continuously optimizing performance, Ethereum sustains a secure and efficient privacy infrastructure over the long term.
■ What can we learn from what Vitalik said?
I see the article admitting that Ethereum’s existing privacy solutions are incomplete, as they don’t prevent leaks at the mempool or network levels.
This implies that what we’ve called “privacy” features so far might have been more superficial than truly effective.
Implementing these extensive changes will bring technical complexity, and I expect resistance from developers and users who are comfortable with the current setup.
The transition could easily lead to confusion or delays.
Strengthening privacy to this degree might draw regulatory attention, given concerns about potential misuse for illicit activities.
I think this could result in legal restrictions or limitations on usage.
Using advanced cryptographic tools like zkVM could slow things down, and I anticipate this might increase transaction costs or create scalability hurdles.
What stands out to me is how the plan treats privacy as a network-wide and protocol-deep issue, not just a matter of hiding transaction data.
I find this far more systematic than patching things up bit by bit.
The focus on preparing for quantum computing tells me Ethereum is aiming for long-term resilience, not just quick fixes.
Extending privacy across all tokens and Layer 2 solutions seems like a smart move to set Ethereum apart from other blockchains and position it as an industry leader.
I appreciate the effort to enhance privacy while still preserving scalability, decentralization, and composability.
It shows a clear intent to avoid the trade-offs that often plague other privacy-focused blockchains.