Pillars of ecosystem development
Vitalik Buterin, co-founder of the crypto asset (virtual currency) Ethereum, has released the latest roadmap for the Ethereum blockchain. He outlined six core components of ecosystem development in 2024.
By popular demand, an updated roadmap diagram for 2023! pic.twitter.com/oxo58A2KuG
— vitalik.eth (@VitalikButerin) December 30, 2023
The components shown in the roadmap and their goals are as follows.
- Merge: Robust and decentralized proof-of-stake consensus
- Surge: Achieving 100,000 TPS
- Scourge: Counter Ethereum’s PoS centralization (mainly MEV and Liquid Staking)
- Verge: Simplifying block approval
- Purge: Further simplification of the protocol
- Splurge: Everything else
Buterin noted that there are relatively few changes from last year’s roadmap as Ethereum’s technological path is solidifying, and explained the key points in each component.
connection:Vitalik updates Ethereum roadmap
The merge lists the introduction of single slot finality (SSF) as a step after the PoS consensus transition, which was completed in September 2022. SSF shortens the process to finalize a transaction.
“SSF is proving to be the easiest path to solving many of the current weaknesses in Ethereum’s PoS design,” Buterin said, praising the role SSF will play in improving PoS. .
He also pointed out that significant progress has been made in surge, a component related to scaling, with rollups and EIP-4844 (implementation of Proto-Danksharding). It said there is room for improvement in the long term regarding cross-rollup standards and interoperability.
connection:Ethereum’s next upgrade “Dencun” will be implemented around the end of February 2024
fight against centralization
Regarding Ethereum liquid staking, Lido Finance, the largest provider, controls over 30% of the staked Ethereum, raising concerns about centralization.
Scourge’s goal has been changed to “counter economic centralization in PoS” and will primarily focus on MEV (Maximum Extracted Value) and staking provider issues.
Last year, Buterin pointed out that the centralization of nodes in staking is not healthy and mentioned plans to redesign staking.
connection:Ethereum co-founder Buterin: “Staking mechanism needs major overhaul”
What is liquid staking?
A DeFi (decentralized finance) system that allows you to operate alternative assets (staking proof tokens) while receiving staking interest on virtual currencies. It has the advantage of releasing the liquidity of assets that have traditionally been locked up. At Lido Finance, the largest service provider, you can stake ETH and receive debt tokens stETH, which can be used as collateral for lending or used in DEXs (decentralized exchanges).
▶️Virtual currency glossary
Block authorization and protocol simplification
Buterin said Verge has made significant progress as it prepares to introduce Verkle trees (mathematical proofs) to reduce the size of proof data.
Additionally, the new roadmap has removed “increased L1 gas limits” and shortened “state expiration dates.”
Late last year, Buterin proposed simplifying the PoS consensus building system by reducing the number of signatures per slot.
connection:Ethereum co-founder Buterin proposes simplifying consensus building
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