An Ethereum researcher’s social media post has sparked speculation over a potential solution for the layer-1 blockchain’s scalability challenges.

On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “ambitious” initiative for Ethereum. Drake said he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpret as a step toward solving its scalability issues.

The researcher said his goal would be to suggest a strategy to ship a Beacon Chain road map. He is expected to share the proposal at Devcon in Bangkok, Thailand, on Nov. 12.

Community speculates about ETH 3.0

Following Drake’s post, rumors about an ETH 3.0 upgrade circulated among the Ethereum community. On X, Ambient Finance founder Doug Colkitt posted about a rumor circulating that the ETH 3.0 announcement is a “second merge into a new consensus targeting 1-second block times” and a native zero-knowledge Ethereum Virtual Machine (zkEVM). 

Colkitt believes that if the rumors turn out to be accurate, having a native zkEVM would be a “huge” update:

“The gas limit can be eliminated entirely. Builders can build arbitrarily large blocks since nodes only need to verify the snark. The only scaling limit left would be bandwidth.”

Colkitt expressed optimism that a zkEVM could mean arbitrary scalability and eliminate the need for layer-2 rollups.

Not everyone in the community believes in the ETH 3.0 speculation. One community member thinks the rumor is “100% BS,” pointing out that significant updates like this would have been signaled months in advance. The community member noted that related Ethereum Improvement Proposals would likely have been filed if such an update were imminent. 

Related: Consensys to cut workforce by 20% — CEO outlines decentralization plans

How Ethereum may solve scalability issues

In an interview with Cointelegraph’s Andrew Fenton, Consensys CEO Joe Lubin discussed potential solutions for Ethereum’s scalability. 

Lubin said the Ethereum ecosystem could revisit the old concept of execution sharding, potentially using a zkEVM at layer-1 to create identical execution shards:

“The interesting thing about that, that way of using layer 1 wasn’t really possible a few years ago when we discarded the idea of execution sharding, what we needed to do was throw open this divergent exploration and a lot of stuff came back.”

Lubin added that there’s a lot of learnings from the development of zero-knowledge approaches and optimistic approaches that could be brought back down to the Ethereum layer-1 to “make everything better.”

Lubin also believes this could lead to scalability solutions for Ethereum: “You’re just boiling down a giant amount of computation at different layers and amortizing a lot of computation into a single transaction. If you do that every two seconds or less, then you get a lot of transactions per second,” he explained. 

While Lubin is optimistic that these approaches could lead to Ethereum achieving millions of transactions per second, he acknowledged that full implementation could take several years.

Magazine: We took an ETHSafari to see how crypto is working out in Africa