Ethereum co-founder Vitalik Buterin has just announced an Ethereum upgrade which aims to make blockchain verification mainstream.
Ethereum co-founder Vitalik Buterin has just announced an Ethereum upgrade which aims to make blockchain verification mainstream. The proposed upgrade, called "The Verge," could change how people interact with the Ethereum network by allowing blockchain validation on devices as small as smartwatches.
Announced Oct. 23, the development targets one of the biggest obstacles to broad blockchain adoption: the enormous data storage needed to run a full Ethereum node. Today, validators require hundreds of gigabytes in storage, plus an additional 30 GB every year, making it unrealistic for most users to participate in network verification.
“The Verge is about changing this, and making fully-verifying the chain so computationally affordable that every mobile wallet, browser wallet, and even smartwatch is doing it by default,” said Buterin, describing his aspiration for a more inclusive blockchain world.
The Verge upgrade describes a very different structure in which the blockchain processes and stores data. In essence, the proposal introduces "stateless client verification," a revolutionary approach that avoids the need to maintain full copies of the blockchain on any device.
Instead, the system would introduce sophisticated cryptographic technologies such as SNARKs—Succinct Non-Interactive Arguments of Knowledge—necessary to make efficient verification possible with minimal data storage.
The current proposal entails a wider array of innovations, including STARKed binary hash trees which entail improved security and scalability benefits compared to traditional systems.
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