{"id":49182,"date":"2021-09-09T20:13:41","date_gmt":"2021-09-09T17:13:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49182"},"modified":"2025-09-02T11:22:44","modified_gmt":"2025-09-02T08:22:44","slug":"vitalik-buterin-proposes-moving-ethereum-issued-nfts-to-layer-2","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/vitalik-buterin-proposes-moving-ethereum-issued-nfts-to-layer-2\/","title":{"rendered":"Vitalik Buterin proposes moving Ethereum-issued NFTs to Layer 2"},"content":{"rendered":"<p>Vitalik Buterin proposed migrating non-fungible tokens (NFTs) issued on the Ethereum blockchain to the layer-2 ecosystem, in a move aimed at cutting gas usage on the mainnet.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We need to move NFTs onto the layer 2 ecosystem to cut fees. However, doing that *right* requires good cross-rollup portability standards, so the ecosystem can avoid getting locked into one particular L2.<\/p>\n<p>I make a cross-rollup portability proposal here:<a href=\"https:\/\/t.co\/eKRQFSjjUh\">https:\/\/t.co\/eKRQFSjjUh<\/a><\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1435413681588736007?ref_src=twsrc%5Etfw\">September 8, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTo reduce fees, we need to move NFTs to the layer-2 ecosystem. However, to do this &#8216;right&#8217;, good L2 interoperability standards are needed so that the ecosystem does not get locked into a single solution,\u201d wrote Buterin.<\/p>\n<\/blockquote>\n<p>The Ethereum founder stressed that the NFT segment requires low fees \u201cbecause a substantial portion is non-financial in nature.\u201d<\/p>\n<p>For transferring NFTs to the Layer-2 ecosystem, existing solutions such as <a href=\"https:\/\/u1f987.com\/en\/news\/arbitrum-developers-launch-mainnet-for-ethereum-scaling-solution\">Arbitrum<\/a> can be used. However, according to Buterin, this approach has a number of significant drawbacks:<\/p>\n<ul class=\"wp-block-list\">\n<li>All major <span data-descr=\"The technology bundles several transactions into one, reducing the load on the main network.\" class=\"old_tooltip\">rollup<\/span>-platforms with support for <span data-descr=\"Ethereum Virtual Machine\" class=\"old_tooltip\">EVM<\/span> have backdoors and other security issues, so it is risky to rely on a single solution;<\/li>\n<li>the NFT ecosystem could become too large to operate on a single L2;<\/li>\n<li>the NFT ecosystem is not closed \u2014 it must interact with other Ethereum projects.<\/li>\n<\/ul>\n<p>As a possible option, Buterin proposed a system that allows transferring NFTs between rollup platforms or base chains by issuing wrapped tokens.<\/p>\n<p>Currently, Layer-2s cannot interact with each other. Earlier, the Ethereum founder presented <a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-proposed-a-scheme-for-settlements-between-ethereums-layer-2-solutions\">a mechanism enabling transactions between different <span data-descr=\"decentralized finance\" class=\"old_tooltip\">DeFi<\/span>-protocols<\/a> using layer-2 solutions in the second-largest cryptocurrency network.<\/p>\n<p>The system for transferring NFTs works similarly. A user mints a token on platform A and transfers it to the \u201cwrapper management contract\u201d. Such a transaction includes a note indicating the platform B to which the asset should be transferred, as well as data about the original owner.<\/p>\n<p>The wrapper management contract stores this information in a dedicated storage and assigns a serial number to the NFT. The user on platform B, knowing the serial number and the address of the token&#8217;s original owner, can issue its wrapped version.<\/p>\n<p>The wrapper-management contract retains the transferred information until the token on platform B is redeemed, preventing duplicate issuance of identical NFTs.<\/p>\n<p>According to Glassnode, the NFT segment is the main gas consumer in the Ethereum network, making the question raised by Buterin as topical as ever.<\/p>\n<p>For example, on September 7 and 8, the average gas price in the blockchain stood at 213 Gwei and 156 Gwei respectively, according to <a href=\"https:\/\/etherscan.io\/chart\/gasprice\">Etherscan<\/a>. Analysts attributed the spike to the NFT collection <a href=\"https:\/\/thesevensofficial.com\/\">The Sevens<\/a> \u2014 more than 18,000 addresses competed for the right to receive one of the 7,000 tokens.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As derivatives led the sell-off this week, the value locked in <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a> protocols has held up remarkably well.<\/p>\n<p>Interestingly, the valuations of <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a> tokens appears to have dislocated from this uptick in protocol usage and TVL.<\/p>\n<p>Read more in DeFi Uncovered\ud83d\udc47<a href=\"https:\/\/t.co\/CHhKyDCSSG\">https:\/\/t.co\/CHhKyDCSSG<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1435996430041169923?ref_src=twsrc%5Etfw\">September 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Buterin proposed <a href=\"https:\/\/u1f987.com\/en\/news\/buterin-proposes-scrapping-token-based-governance-for-defi-projects\">to abandon governance of DeFi projects via token voting<\/a>.<\/p>\n<p>Follow ForkLog\u2019s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founder of Ethereum Vitalik Buterin proposed moving non-fungible tokens (NFTs) issued on the Ethereum blockchain to the Layer-2 ecosystem to cut gas fees on the main network.<\/p>\n","protected":false},"author":1,"featured_media":49183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1213,200],"class_list":["post-49182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-nft","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49182"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49182\/revisions"}],"predecessor-version":[{"id":49184,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49182\/revisions\/49184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49183"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}