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Vitalik Buterin Unveils Ethereum Protocol Simplification Roadmap and Node Resource Optimization
Vitalik Buterin, the co-founder of Ethereum, delves into the intricacies of streamlining the Ethereum protocol and easing the burden on network nodes. With a focus on enhancing efficiency and bolstering security, Buterin sheds light on various initiatives and advancements within the Ethereum ecosystem.
Simplification Initiatives:
Ethereum's evolution towards simplicity and robustness is exemplified by initiatives like the EIP-6780 in the Dencun hard fork. By streamlining the functionality of the SELFDESTRUCT opcode, complexity is reduced while new security assurances are introduced. Buterin terms this ongoing process as the 'Purge,' marking significant milestones in Ethereum's journey towards optimization.
Key 'Purges' Highlighted by Buterin:
1. Geth Optimization: Recent optimizations in Geth involve shedding redundant code by dropping support for the pre-merge (PoW) network.
2. EIP-161: Addressing concerns raised by the Shanghai DoS attack, EIP-161 eliminates the need to manage 'empty accounts,' enhancing network resilience.
3. Storage Efficiency in Dencun: Introducing an 18-day storage window for blobs in Dencun ensures Ethereum nodes require only approximately 500GB for blob data storage, maintaining scalability.
Precompile Rationalization:
Buterin underscores the need to reassess the necessity of certain precompiles, citing them as potential sources of consensus errors. Proposals such as EIP-7266 advocate for removing precompiles deemed unnecessary, while alternatives involve replacing them with EVM code, albeit at a higher gas cost.
Addressing Historical Data Storage:
A critical consideration in Ethereum's evolution is the storage of historical data, prompting exploration into decentralized storage solutions. Buterin proposes leveraging peer-to-peer network protocols to store and transmit historical data efficiently, enhancing decentralization without burdening individual nodes.
LOG Reform and Transition to SSZ:
Buterin advocates for simplifying the LOG opcode and implementing protocols utilizing ZK-SNARKs and Incremental Verifiable Computation (IVC) to manage logs effectively. Additionally, he discusses Ethereum's transition to SimpleSerialize (SSZ), aiming for a more streamlined and efficient consensus layer.
Future Outlook:
Looking ahead, Ethereum's roadmap includes transitioning to data structures like SHA256 binary trees and Verkle trees, with potential adoption of binary Merkle trees using SNARK-friendly hash algorithms in the longer term.
Vitalik Buterin's insights underscore Ethereum's commitment to innovation and scalability, charting a course towards a more efficient and decentralized future.
#Ethereum✅ #Vitalik-Buterin's #BullorBear $ETH
Simplification Initiatives:
Ethereum's evolution towards simplicity and robustness is exemplified by initiatives like the EIP-6780 in the Dencun hard fork. By streamlining the functionality of the SELFDESTRUCT opcode, complexity is reduced while new security assurances are introduced. Buterin terms this ongoing process as the 'Purge,' marking significant milestones in Ethereum's journey towards optimization.
Key 'Purges' Highlighted by Buterin:
1. Geth Optimization: Recent optimizations in Geth involve shedding redundant code by dropping support for the pre-merge (PoW) network.
2. EIP-161: Addressing concerns raised by the Shanghai DoS attack, EIP-161 eliminates the need to manage 'empty accounts,' enhancing network resilience.
3. Storage Efficiency in Dencun: Introducing an 18-day storage window for blobs in Dencun ensures Ethereum nodes require only approximately 500GB for blob data storage, maintaining scalability.
Precompile Rationalization:
Buterin underscores the need to reassess the necessity of certain precompiles, citing them as potential sources of consensus errors. Proposals such as EIP-7266 advocate for removing precompiles deemed unnecessary, while alternatives involve replacing them with EVM code, albeit at a higher gas cost.
Addressing Historical Data Storage:
A critical consideration in Ethereum's evolution is the storage of historical data, prompting exploration into decentralized storage solutions. Buterin proposes leveraging peer-to-peer network protocols to store and transmit historical data efficiently, enhancing decentralization without burdening individual nodes.
LOG Reform and Transition to SSZ:
Buterin advocates for simplifying the LOG opcode and implementing protocols utilizing ZK-SNARKs and Incremental Verifiable Computation (IVC) to manage logs effectively. Additionally, he discusses Ethereum's transition to SimpleSerialize (SSZ), aiming for a more streamlined and efficient consensus layer.
Future Outlook:
Looking ahead, Ethereum's roadmap includes transitioning to data structures like SHA256 binary trees and Verkle trees, with potential adoption of binary Merkle trees using SNARK-friendly hash algorithms in the longer term.
Vitalik Buterin's insights underscore Ethereum's commitment to innovation and scalability, charting a course towards a more efficient and decentralized future.
#Ethereum✅ #Vitalik-Buterin's #BullorBear $ETH
Vitalik Buterin Wants to Redesign Ethereum, Here's How It Will Affect Everyone
Fundamental changes potentially coming to Ethereum, according to Vitalik Buterin's speech in Turkey
Ethereum's cofounder Vitalik Buterin has proposed an ambitious redesign for the Ethereum network, which, if implemented, could have profound implications for users and developers. Speaking at Devconnect in Turkey, Buterin outlined a strategy to enhance Ethereum staking and address performance issues that have been persistent thorns in the network's side.
Buterin's vision includes integrating private mempools and ERC-4337. Private mempools could offer users enhanced privacy and security by allowing them to conduct transactions without exposing their intentions to the public mempool where miners could see and potentially exploit them. ERC-4337 refers to account abstraction, allowing users to have more sophisticated control over their accounts, with operations like multisig wallets becoming easier to implement and more secure.
Code precompilation is another feature Buterin is keen on integrating. This could potentially increase the efficiency of smart contract deployment, making them quicker and cheaper to execute by preprocessing some elements of the code.
Liquid staking, a process that allows stakers to liquify staked (or locked) assets, is a feature Buterin wants to see improved. He has expressed concerns over the centralization of liquid staking solutions, which could be a risk for the network if too much control is in the hands of a few entities like Lido Finance.
The redesign Buterin proposes would likely make Ethereum more scalable, secure and efficient. These changes could lower the barriers to entry for new users and developers, fostering a more inclusive and robust ecosystem. The exact impact on Ethereum's price and the broader crypto market is speculative, but typically, improvements that address fundamental issues and enhance usability bode well for the network's value and adoption.
#ETH #Vitalik-Buterin's #EthereumHigh #EthereumWhales #ETHWhaleTransaction
$ETH $XRP $BTC
Fundamental changes potentially coming to Ethereum, according to Vitalik Buterin's speech in Turkey
Ethereum's cofounder Vitalik Buterin has proposed an ambitious redesign for the Ethereum network, which, if implemented, could have profound implications for users and developers. Speaking at Devconnect in Turkey, Buterin outlined a strategy to enhance Ethereum staking and address performance issues that have been persistent thorns in the network's side.
Buterin's vision includes integrating private mempools and ERC-4337. Private mempools could offer users enhanced privacy and security by allowing them to conduct transactions without exposing their intentions to the public mempool where miners could see and potentially exploit them. ERC-4337 refers to account abstraction, allowing users to have more sophisticated control over their accounts, with operations like multisig wallets becoming easier to implement and more secure.
Code precompilation is another feature Buterin is keen on integrating. This could potentially increase the efficiency of smart contract deployment, making them quicker and cheaper to execute by preprocessing some elements of the code.
Liquid staking, a process that allows stakers to liquify staked (or locked) assets, is a feature Buterin wants to see improved. He has expressed concerns over the centralization of liquid staking solutions, which could be a risk for the network if too much control is in the hands of a few entities like Lido Finance.
The redesign Buterin proposes would likely make Ethereum more scalable, secure and efficient. These changes could lower the barriers to entry for new users and developers, fostering a more inclusive and robust ecosystem. The exact impact on Ethereum's price and the broader crypto market is speculative, but typically, improvements that address fundamental issues and enhance usability bode well for the network's value and adoption.
#ETH #Vitalik-Buterin's #EthereumHigh #EthereumWhales #ETHWhaleTransaction
$ETH $XRP $BTC
#Ethereum Co-Founder #Vitalik-Buterin's #X-Account Hacked!
#Hackers have breached the security of Vitalik Buterin's X-account, as reported by his father, Dmitry Buterin. The cryptocurrency community is on edge as they await further details.
Dmitry Buterin issued a statement advising everyone to "ignore this post." He explicitly stated that it was evident that Vitalik's account had been compromised and assured the public that Vitalik is diligently working on restoring access to his account.
The suspicious post has since been removed, indicating that Vitalik, the co-founder of Ethereum, might have successfully regained control over his profile.
What's particularly concerning is the nature of the scam post that was briefly published on Vitalik's account. It promised "memorable NFTs in honor of Proto-Danksharding's arrival in Ethereum." This option is known to enhance the blockchain's throughput and reduce fees for L2 solutions based on Rollups technology.
According to blockchain analyst #ZachXBT, $$ the damage caused by this hack has exceeded a staggering $691,000. Among the stolen NFTs were CryptoPunk 3983, valued at 153.62 ETH (approximately $250,000 at the time of writing), and CryptoPunk 1751, which was worth 58.18 ETH (around $95,000).
A user going by the pseudonym BokkyPooBah revealed that they had lost two irreplaceable CryptoPunks tokens in this audacious hack.
This incident bears a striking resemblance to a hack in July, where hackers infiltrated the X-account of Hayden Adams, the creator of the decentralized exchange Uniswap.
It's worth noting that malicious actors had previously targeted the profile of Circle's Chief Strategy Officer, Dante Disparte, in a bid to promote a fake airdrop.
Recall that in December 2022, unknown hackers compromised the X-account of Shark Tank star Kevin O'Leary for a Bitcoin giveaway scam.
The year 2023 began with yet another attack, as cybercriminals gained control of the online broker Robinhood's social media profile to promote a fraudulent token named RBH on the BNB Chain.$ETH $BNB
#Hackers have breached the security of Vitalik Buterin's X-account, as reported by his father, Dmitry Buterin. The cryptocurrency community is on edge as they await further details.
Dmitry Buterin issued a statement advising everyone to "ignore this post." He explicitly stated that it was evident that Vitalik's account had been compromised and assured the public that Vitalik is diligently working on restoring access to his account.
The suspicious post has since been removed, indicating that Vitalik, the co-founder of Ethereum, might have successfully regained control over his profile.
What's particularly concerning is the nature of the scam post that was briefly published on Vitalik's account. It promised "memorable NFTs in honor of Proto-Danksharding's arrival in Ethereum." This option is known to enhance the blockchain's throughput and reduce fees for L2 solutions based on Rollups technology.
According to blockchain analyst #ZachXBT, $$ the damage caused by this hack has exceeded a staggering $691,000. Among the stolen NFTs were CryptoPunk 3983, valued at 153.62 ETH (approximately $250,000 at the time of writing), and CryptoPunk 1751, which was worth 58.18 ETH (around $95,000).
A user going by the pseudonym BokkyPooBah revealed that they had lost two irreplaceable CryptoPunks tokens in this audacious hack.
This incident bears a striking resemblance to a hack in July, where hackers infiltrated the X-account of Hayden Adams, the creator of the decentralized exchange Uniswap.
It's worth noting that malicious actors had previously targeted the profile of Circle's Chief Strategy Officer, Dante Disparte, in a bid to promote a fake airdrop.
Recall that in December 2022, unknown hackers compromised the X-account of Shark Tank star Kevin O'Leary for a Bitcoin giveaway scam.
The year 2023 began with yet another attack, as cybercriminals gained control of the online broker Robinhood's social media profile to promote a fraudulent token named RBH on the BNB Chain.$ETH $BNB
