Vitalik Buterin Reveals Ethereum's 2024 Development Plans
Date: 2024-01-01 Author: Dima Zakharov Categories: IN WORLD
Ethereum's visionary co-founder, Vitalik Buterin, has shared his ambitious plans for the platform's development in 2024. In response to growing curiosity from the crypto community, Buterin released an updated roadmap with key priorities for the year ahead.
1. The Merge: Ethereum aims to achieve an ideal, simple, reliable, and decentralized Proof-of-Stake (PoS) consensus mechanism, signaling a significant shift away from energy-intensive Proof-of-Work (PoW) mining.
2. The Surge: The network plans to boost its transaction throughput to a whopping 100,000 transactions per second (TPS) by leveraging rollups, a crucial upgrade to enhance scalability.
3. The Scourge: Addressing concerns about centralization risks within Ethereum's PoS design, especially regarding Miner Extractable Value (MEV) and liquid staking.
4. The Verge: Streamlining block verification processes to enhance overall network efficiency and speed.
5. The Purge: Simplifying the protocol, reducing technical debt, and limiting participation costs within the Ethereum network to make it more accessible.
6. The Splurge: Miscellaneous improvements and fixes to enhance Ethereum's overall functionality and user experience.
Previously, in late December, Buterin proposed reviving the "crypto-punk" revolution, a concept originally envisioned during Ethereum's early days. A month earlier, he published an essay titled "My Techno-Optimism," where he shared his thoughts on the impact of emerging technologies, including blockchain and artificial intelligence, on human civilization. Ethereum enthusiasts eagerly anticipate these developments, which could shape the future of decentralized technologies.
