Vitalik Buterin told about the "rainbow steak"

During the Ethtaipei 2024 event held in Taiwan, Ethereum co-founder Vitalik Buterin shared several ideas for the development of the network. In particular, the programmer presented a kind of "rainbow staking" and proposed a "restoring hard fork".

Vitalik Buterin told about the "rainbow steak"

According to Buterin, rainbow staking will allow integrating various protocol services in a more convenient form. This will increase the economic value of the Ethereum network. In addition, the new scheme will also attract more solo validator stake holders who are directly involved in confirming new transactions.

The concept was called "rainbow" because its architecture is suitable for a wide range of network participants — as different as the colors of the rainbow.

The programmer noted that this approach would solve the problem of moving to single-slot finality (SSF). SSF is another concept of Buterin, according to which blocks can be offered and completed in the same slot. Thus, in his opinion, it is possible to speed up the process of confirming blocks on the network.

For the first time, the concept of "rainbow staking" was presented in February of this year. According to the project's blog post, the idea allows "protocol service providers — individual or professional — to participate as effectively as possible in a differentiated menu of protocol services tailored to their own strengths and value propositions."

The Ethereum co-founder also mentioned the risks associated with quantum computers. In order to protect the network of the second cryptocurrency from unauthorized access, a "recovery hard fork" can be carried out. According to Buterin, the network is already ready for an update.


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