Ethereum

Future

Enhance

<h4>The crypto sector is a dynamic environment. Projects can’t nod off and expect to remain relevant. That’s why Ethereum has an ongoing roadmap. <a href="https://www.altcoinbuzz.io/?s=Vitalik+Buterin" target="_blank" rel="noopener">Vitalik Buterin</a> and his team keep building. </h4> 
This Ethereum roadmap has six steps, and The Splurge is step six. We already covered the previous five steps. So, what is The Splurge all about? 
<h5>What Is The Splurge?</h5> 
In a nutshell, The Splurge is all about the upgrades that don’t fit in one of the previous five upgrades. In other words, it should fix everything else. Here are the key goals for The Splurge: 
<ul> 
 <li>Reach a stable ‘endgame state’ for EVM.</li> 
 <li>Offer more secure and convenient accounts with account abstraction. This means that you can set your own rules for wallet management. For example, this allows for ‘free’ or sponsored transaction fees.</li> 
 <li>Enhance the transaction fee economics, increase scalability, and reduce risks.</li> 
 <li>Research advanced cryptography to improve Ethereum.</li> 
</ul> 
As always, for more detailed explanation, please read Vitalik Buterin’s original <a href="https://vitalik.eth.limo/general/2024/10/29/futures6.html" target="_blank" rel="noopener">article</a> The picture below shows the roadmap of The Splurge. 
<img decoding="async" class="aligncenter wp-image-154296 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-663-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_.jpg" alt="The Splurge" width="902" height="263" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-663-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_.jpg 902w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-663-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-300x87.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-663-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-768x224.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-663-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-696x203.jpg 696w" sizes="(max-width: 902px) 100vw, 902px"> 
Source: Buterin’s <a href="https://vitalik.eth.limo/general/2024/10/29/futures6.html" target="_blank" rel="noopener">article</a> on The Splurge 
<h6>EVM Improvements</h6> 
The current EVM needs an overhaul. One of the first improvements is <a href="https://evmobjectformat.org/" target="_blank" rel="noopener">EOF</a> or EVM Object Format. Integration of EOF is in the plans for the next hard fork. EOF adds a lot of code to EVM implementations. However, it offers benefits in the form of simplifications: 
<ul> 
 <li>Higher-level languages.</li> 
 <li>EVM implementations.</li> 
</ul> 
This would warrant more efficient L2s. It’s also interesting to see how Buterin changed his mind over time about EVM upgrades. See the X post below. 
<blockquote class="twitter-tweet"> 
 IMO the best argument against any EVM improvements is that it’s much harder to remove EVM features than to add them, and so a culture where ongoing “EVM improvements” are expected means EVM keeps complexifying. 
 Some EVM changes are good, but that’s the tradeoff to weigh against. 
 — vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1602297935647199233?ref_src=twsrc%5Etfw">December 12, 2022</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h6>Account abstraction</h6> 
Account abstraction (AA) has been around since 2015. Since then, its goal has increased in size. For example, allowing to pay for transaction fees in <a href="https://www.altcoinbuzz.io/?s=ERC-20+tokens" target="_blank" rel="noopener">ERC-20 tokens</a> instead of $ETH. 
So, the importance is to find the right balance between security and convenience in AA. See the picture below. 
<figure id="attachment_154294" aria-describedby="caption-attachment-154294" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-154294 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_.jpg" alt="The Splurge" width="828" height="574" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_.jpg 828w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-300x208.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-768x532.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-606x420.jpg 606w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-218x150.jpg 218w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-696x482.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-664-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-100x70.jpg 100w" sizes="(max-width: 828px) 100vw, 828px">
 <figcaption id="caption-attachment-154294" class="wp-caption-text">
 Buterin’s article on The Splurge
 </figcaption>
</figure> 
<a href="https://research.cs.wisc.edu/areas/sec/yao1982-ocr.pdf" target="_blank" rel="noopener">MPC</a> (multi-party computation) plays an important role in this process. 
<h6>EIP-1559 Improvements</h6> 
An EIP is an Ethereum Improvement Proposal. These proposals allow community members to vote on how Ethereum’s development. <a href="https://notes.ethereum.org/@vbuterin/eip-1559-faq" target="_blank" rel="noopener">EIP-1559</a> has been active since 2021. It improved the average block inclusion time. However, this EIP needs some improvements. Buterin describes these improvements in detail in his article. For example, <a href="https://vitalik.eth.limo/general/2024/05/09/multidim.html" target="_blank" rel="noopener">multidimensional gas</a> plays an essential role. 
<h6>Verifiable delay functions (VDFs)</h6> 
<a href="https://eprint.iacr.org/2018/601.pdf" target="_blank" rel="noopener">Verifiable delay functions</a> or VDFs protect blocks from manipulation. The idea is to delay certain information. This way, bad actors can’t benefit from an unfair advantage. You can only compute it sequentially. You can’t speed up the process by making use of parallel computers. For instance, it’s used to increase the security of proposer selection. 
<h6>Obfuscation and One-Shot Signatures: The Far Future of Cryptography</h6> 
This is about a transparent virtual computer. This computer should have various functions and features. For example, you can’t: 
<ul> 
 <li>Shut it down.</li> 
 <li>Censor it or tamper with it.</li> 
</ul> 
If privacy is out of this equation, a blockchain can handle this. However, if you want to include privacy, there are projects around that offer this. They also need to offer trustless third parties. 
Ethereum makes full use of <a href="https://vitalik.eth.limo/general/2021/01/26/snarks.html" target="_blank" rel="noopener">ZK-SNARKS</a>. Another protocol is fully <a href="https://vitalik.eth.limo/general/2020/07/20/homomorphic.html" target="_blank" rel="noopener">homomorphic encryption</a> or FHE. However, both have limitations. So, a third protocol, <a href="https://en.wikipedia.org/wiki/Indistinguishability_obfuscation" target="_blank" rel="noopener">indistinguishability obfuscation</a>, seems to be the solution. However, it’s very new and still requires lots of research. On the other hand, it’s more powerful than the other two combined. 
It also requires the use of quantum <a href="https://eprint.iacr.org/2020/107.pdf" target="_blank" rel="noopener">one-shot signatures</a>. For this, you need a quantum computer. So, there’s still a lot to do in this field. See the picture below. 
<figure id="attachment_154295" aria-describedby="caption-attachment-154295" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-154295 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-665-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_.png" alt="The Splurge" width="687" height="227" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-665-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_.png 687w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-665-Possible-futures-of-the-Ethereum-protocol-part-6_-The-Splurge-vitalik.eth_.limo_-300x99.png 300w" sizes="(max-width: 687px) 100vw, 687px">
 <figcaption id="caption-attachment-154295" class="wp-caption-text">
 Buterin’s article on The Splurge
 </figcaption>
</figure> 
<h5>Conclusion</h5> 
The Future of Ethereum is an ongoing project. It follows a six-step <a href="https://ethroadmap.com/" target="_blank" rel="noopener">roadmap</a>. We already covered five parts of this roadmap. <a href="https://www.altcoinbuzz.io/cryptocurrency-news/vitalik-buterin-envisions-ethereums-future-post-merge/" target="_blank" rel="noopener">The Merge</a>, <a href="https://www.altcoinbuzz.io/product-release/vitalik-buterin-talked-about-the-surge-ethereums-future/" target="_blank" rel="noopener">The Surge</a>, <a href="https://www.altcoinbuzz.io/product-release/vitalik-buterin-continues-on-ethereums-future-the-scourge/" target="_blank" rel="noopener">The Scourge</a>, <a href="https://www.altcoinbuzz.io/product-release/vitalik-buterin-on-the-verge-exploring-ethereums-future/" target="_blank" rel="noopener">The Verge</a>, and <a href="https://www.altcoinbuzz.io/product-release/vitalik-buterin-on-the-purge-exploring-ethereums-future/">The Purge</a>. Today we covered the last step, The Splurge. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a> 
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The post <a href="https://www.altcoinbuzz.io/product-release/vitalik-buterin-on-the-splurge-exploring-ethereums-future/">Vitalik Buterin on The Splurge: Exploring Ethereum’s Future</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Vitalik Buterin on The Splurge: Exploring Ethereum’s Future

Altcoin Buzz

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