Ethereum

2024

Foundation

Verge

Ethereum Name Service

Vitalik Buterin, the Ethereum founder, demanded an open decentralized protocol for transferring digital assets from one Layer 2 to another.&nbsp; 
After the Dencun upgrade, which took place on March 13, Vitalik Buterin seeks an open decentralized protocol to make assets transfer faster between different Layer 2 blockchains. According to Buterin. Layer-2 verse isn’t enough and requires updates to enhance user experience. 
<h2 class="wp-block-heading" id="strong-vitalik-buterin-wants-an-open-decentralized-protocol-strong">Vitalik Buterin Wants an Open Decentralized Protocol</h2> 
On May 21, Buterin shared his views on user experience (UX) problems with the Ethereum (ETH) Layer-2 blockchain. To make the asset movement quicker between layer 2 and other blockchains, an open decentralized protocol is required, Buterin tweeted. 
At the press time, ETH was trading at $3,665.26, after a surge of 18.04% in a day with a market cap of $440,192,735,963 and $38,505,162,367 in 24-hour volume. 
<center>
 <blockquote class="twitter-tweet">
 We need an open decentralized (operator-free, governance-free) protocol for quickly moving assets from one L2 to another, and for that to be integrated into wallets' default sending interface. Get the basics done before getting too committed to any fancy toys.— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1792785303540998451?ref_src=twsrc%5Etfw">May 21, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
“Our biggest UX problem is, the L2-verse doesn’t feel enough “like a unified Ethereum”. It’s much better than a year ago, but still far from perfect.” he added.&nbsp; 
Algorithms that worked better on Layer 1 are hard across Layer 2 mainly regarding token transfer, changes to smart contract wallets, and Ethereum Name Service (ENS). 
<h3 class="wp-block-heading" id="strong-buterin-shared-ethereum-eth-roadmap-update-strong">Buterin Shared Ethereum (ETH) Roadmap Update</h3> 
On May 17, Buterin published a new article outlining the <a href="https://www.thecoinrepublic.com/2024/05/20/a-whale-dumped-ethereum-amid-optimism-spread-by-vitaliks-blog/" target="_blank" rel="noreferrer noopener">Ethereum </a>blockchain’s improvement in terms of permissionlessness and decentralization. He shared a rare update on the Dencun upgrade on March 13. 
The upgrade enhanced data availability through proto-danksharding (EIP-4844), a way to add cheaper data to blocks, and reduced the costs of layer-2 transactions.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img loading="lazy" decoding="async" width="948" height="250" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-266.png" alt="Vitalik Buterin" class="wp-image-206384" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-266.png 948w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-266-300x79.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-266-768x203.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-266-750x198.png 750w" sizes="(max-width: 948px) 100vw, 948px">
 </figure>
</div> 
The Verge I Source: Vitalik Buterin Blog 
In the same way, the team behind the ETH blockchain planned to implement The Verge and Purge to lower node costs and simplify Ethereum Virtual Machine (EVM). The Verge integrates stateless clients with Verkle trees to lower node costs and Purge simplifies the EVM. 
<h3 class="wp-block-heading" id="strong-justin-drake-s-shift-to-eigenlayer-strong">Justin Drake’s Shift to EigenLayer</h3> 
During the upgrade and improvement process, researcher Justin Drake stepped out from the Ethereum Foundation and joined hands with the Eigen Foundation. Promoting transparency in the crypto community was the main reason behind Drake’s move. 
On May 19, Drake took to X to share his shift to EigenLayer. 
<center>
 <blockquote class="twitter-tweet">
 I recently became an advisor to the EigenFoundation. I feel the community deserves transparency so here is an extended disclosure <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f642.png" alt="🙂" class="wp-smiley" style="height: 1em; max-height: 1em;"> 1) The advisorship comes with a significant EIGEN token incentive which could easily be worth more than the combined value of all my other assets…— Justin Ðrake 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f987.png" alt="🦇" class="wp-smiley" style="height: 1em; max-height: 1em;">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f50a.png" alt="🔊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@drakefjustin) <a href="https://twitter.com/drakefjustin/status/1792143477163106787?ref_src=twsrc%5Etfw">May 19, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
Following Drake, Dankrad Feist another researcher from Ethereum Foundation moved to Eigen Foundation on May 21. The researchers at the Eigen Foundation will be accountable for researching staking risks, sharing insights, and bouncing ideas to compete.

Update: Vitalik Buterin Shares Insights On Ethereum Upgrades

Table of Contents

Thecoinrepublic.com

Other articles published on May 21, 2024

Major Trends in Bitcoin Signal the Awakening of Altcoin Season: Which Cryptos to Buy Now

Solana (SOL) Price Hits $180: What’s Next?

Solana’s Tapswap coin rises post-launch – Here’s all you need to know

Alleged Owner Of Darknet 'Incognito Market' Arrested In New York, Faces Life In Prison For Runnin...

Ethereum Contracts Reach Record High, Surpassing $14 Billion

Top Base Meme Coins To Invest

Join our free newsletter for daily crypto updates!