Vitalik Buterin said that the Ethereum block creating research is nearing completion.
Having multiple actors contributing to transactions that must be included in the block is a “good idea.”
Ether is currently trading at $2,505 with a significant decline in the trading volume.
Ethereum co-founder Vitalik Buterin recently took to social media platform X (formerly Twitter) to share an update on the ongoing Ethereum block construction research, indicating that it is nearing completion.
According to Buterin’s post, the Ethereum developers involved in the research have concluded that having multiple actors contributing to transactions that must be included in the block is a “good idea” but there will be debates on how to avoid possible “last mover” advantage. The billionaire added:
“It’s good to see the progress! It feels like the block construction topic is nearing a light at the end of the tunnel.”
Buterin’s update came after Max Resnick, a researcher at the Ethereum Foundation, released a new design called Braid. This design is based on the simple idea of running many instances of Ethereum’s consensus mechanism in parallel.
This talk convinced me that Ethereum can implement multiple concurrent block proposers@MaxResnick1 proposes a new design called Braid, based on the simple idea of running many instances of Ethereum consensus in parallelI think this could become a defining part of the roadmap pic.twitter.com/XtqNtPAbhR
— Dan Robinson (@danrobinson) August 5, 2024
However, other Ethereum research team members took to X to add that Braid is a good design but there are many questions that it does not answer, adding that the “work on alternative approaches is misrepresented.”
Dan Robinson, a member of the research team at Paradigm, highlighted the beneficial points of Resnick’s design, adding that Braid does not assign a single leader who is last mover and as a result, the potential for timing advantage will be eradicated.
Meanwhile, the price of Ether (ETH), Ethereum’s native cryptocurrency, was sluggish on Thursday, down around 0.7% in the past 24 hours with a 47.09% decline in the trading volume of the digital asset which stands at $25.28 billion. At the time of writing, ETH is trading at $2,505. On the other hand, the market capitalization of the second-largest digital asset stands at $301.46 billion.
The Relative Strength Index (RSI) of the Ether token stands at 26.01 which means that the digital asset is currently in the oversold region and there is a possibility of a strong rebound in the near future as buyers take advantage of lower prices.
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