|

Vitalik Buterin proposes to solve Ethereum design’s weakness through update

  • Ethereum co-founder Vitalik Buterin shared an updated roadmap for ETH 2023 appreciating progress made by ETH Layer 2s. 
  • Vitalik did not commit to a timeline for changes to Ethereum and noted that they are ordered according to priority. 
  • Ethereum price is $2,293 as the altcoin eyes recovery. 

Ethereum co-founder Vitalik Buterin tweaked the project’s 2023 roadmap and shared it with his followers on X (formerly Twitter). Buterin’s proposition is aimed at reducing Ethereum’s design weakness and the co-founder did not commit to a timeline for changes presented in the roadmap.

Also read: PancakeSwap community votes to remove 300 million CAKE from supply

Ethereum maintains core priorities plans updates to design

In his recent tweet on X, Vitalik Buterin shared an updated roadmap for the second largest cryptocurrency by market capitalization. Buterin’s project maintained its core priorities:

  • Merge: Proof-of-Stake consensus
  • Surge: 100,000 transactions per second across Ethereum and Layer 2 networks
  • Scourge: liquid pooling
  • Verge: simplifying the block verification process on the ETH chain
  • Purge: simplifying the ETH chain further
  • Splurge: all else

Ethereum currently faces design weakness that has encouraged the development of the Layer 2 networks and the Verkle tree implementation. Buterin proposed a Single Slot Finality, within a consensus mechanism, in a single slot, a block of transactions can be considered “finalized,” meaning a guarantee that these cannot be altered or removed from the blockchain. 

Buterin’s proposal differs from the original design of Ethereum consensus because all validators are involved in endorsing slots. 

SSF further aims to make changes to the Ethereum blockchain irreversible without burning at least 33% of the total staked Ether. According to Buterin, SSF is the easiest path to resolving a lot of the Ethereum PoS design’s weaknesses. 

At the time of writing, Ethereum price is $2,293 on Binance. ETH yielded nearly 12% gains for holders in the past week. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

XRP recovery stalls as Ripple and Robinhood expand partnership scope

Technically, XRP is still in the woods, with the 50-day EMA limiting the token’s recovery potential. Ripple (XRP) faces short-term hurdles, trading around $1.33 on Wednesday.

Bitcoin reclaims $81,000 as traders await Fed policy decision, Big Tech earnings

Bitcoin reclaims $81,000 on Wednesday, extending its recovery as investors await the Fed’s policy decision and upcoming Big Tech earnings. Spot Bitcoin ETFs record an inflow of $175.99 million on Tuesday, marking a second consecutive day of inflows.

Crypto Today: Bitcoin, Ethereum, XRP recover ahead of Fed decision

Bitcoin has renewed its advance above $81,000 on Wednesday, lifting sentiment across the cryptocurrency market ahead of the upcoming Fed's interest rate decision. Ethereum follows in Bitcoin’s footsteps. Ripple is similarly edging higher above $1.33.

Pi Network stalls as Core Team expands investment fund to Axis Robotics

Pi Network hovers around $0.0766 on Wednesday, holding steady after a roughly 2% rebound on Monday. Axis Robotics officially confirmed that it has received seed investment from Pi Ventures, which focuses on the technical integration of AI and robotics.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.