Vitalik Buterin envisions a more straightforward version of Ethereum that incorporates constraints on transaction lines and draws inspiration from Bitcoin’s foundational principles.

Vitalik Buterin has highlighted fundamental problems that are hindering Ethereum’s progress, suggesting that Bitcoin may serve as a model for addressing these challenges. He is focusing on streamlining the execution and consensus layers and formulating a strategy for backward compatibility during VM transitions. Currently, Ethereum (ETH), which is the second-largest cryptocurrency by market value at $220 billion and priced at $1,824, serves as a standard that many other blockchains aim to achieve. However, it’s not without its flaws. In a recent article called “Simplifying the L1,” Vitalik Buterin, co-founder of Ethereum, outlined his vision for the platform’s future. He thinks that in the next five years, Ethereum should intentionally focus on simplifying its fundamental Layer 1 protocol. He aims to simplify Ethereum, improve its usability, and enhance its robustness, characteristics that have contributed to Bitcoin’s longevity. Vitalik finds inspiration in Bitcoin’s (BTC) structure, describing it as “elegantly straightforward.” “He explains, “There exists a chain composed of a sequence of blocks. Every block is linked to the one before it through a hash. The validity of each block is confirmed through proof of work. Every block holds transactions.