Vitalik Buterin, the co-founder of Ethereum, expressed his belief that the Bitcoin network requires scalable solutions, such as zero-knowledge (ZK) rollups, to transcend being solely a payment network. During a Twitter space hosted by Bitcoin developer Udi Wertheimer, Buterin discussed Ethereum’s scaling experiments.
ZK-rollup chains are off-chain protocols built on the Ethereum blockchain and managed by on-chain smart contracts. They offer a more scalable and efficient method of verifying transactions without compromising user privacy.
Buterin highlighted Ethereum’s success in incorporating various scaling solutions, including recent experiments with ZK rollups and Plasma, which have improved throughput. He pointed to Optimism and Arbitrum as successful examples of “rollups” that could serve as case studies for Bitcoin.
Buterin emphasized that if Bitcoin is to be more than just a payment system, it requires additional scaling solutions. Scalability has long been a topic of discussion for both Bitcoin and Ethereum. While Ethereum has transitioned from proof-of-work to proof-of-stake and explored layer-2 solutions like ZK roll-ups and Plasma, Bitcoin has relied on the lightning network for scalability. Additionally, Bitcoin Ordinals, a layer-2 solution enabling decentralized storage of digital art on the Bitcoin blockchain, has contributed to Bitcoin’s scalability efforts.
Buterin praised the rise of Ordinals, stating that he believes they have reinvigorated the builder culture within the Bitcoin ecosystem. Bitcoin Ordinals gained rapid popularity, resulting in over $210 million in trading volume by the end of June.
