#BitwiseBitcoinETF What is the Ethereum "Purge"? Explaining Buterin's New ETH Update and Why New Altcoin Sells 41 Million Tokens

Ethereum co-founder Vitalik Buterin recently unveiled plans to enhance the network’s efficiency with what he calls, “The Purge”. Buterin’s announcement left market observers wondering whether the ambitious network update could translate into ETH’s massive price recovery.

Meanwhile, a new altcoin is taking the crypto spotlight with its explosive presale. JetBolt (JBOLT), a fresh and exciting project, has sold over 41 million tokens since its presale launched recently in August 2024.

Can Ethereum pull off a successful comeback with its recent network upgrades, and what’s fueling JetBolt’s trending presale? Read on to find out.

Buterin Shares Plans to Reduce Ethereum’s Complexity

Vitalik Buterin recently revealed plans to improve the efficiency of the Ethereum (ETH) network. A key element of Ethereum’s strategy includes “The Purge,” which is part of the “Possible futures of the Ethereum protocol” series of updates. This update aims to make the Ethereum network more efficient by reducing unnecessary data and complexity.

Buterin shared that huge data storage needs are one of Ethereum's biggest challenges today.

The Ethereum innovator explained that the network becomes bloated as transactions accumulate and smart contracts increase.

This makes it more difficult for new nodes to join, hindering the seamless operation of the Ethereum network. It also leaves Ethereum more vulnerable to rising costs for users and operators.

According to Buterin, "The Purge's" intent is to ease the storage burden "by reducing or eliminating the need for every node to permanently store all history. The Ethereum co-founder further added that "The Purge" aims to reduce protocol complexity by cutting off obsolete features.

However, some crypto analysts caution that while this ambitious overhaul could boost Ethereum’s future prospects, it may not lead to massive price pumps right away.