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Vitalik Buterin shares an updated roadmap of Ethereum

Ethereum

Vitalik Buterin, one of the co-founders of Ethereum, published an updated version of the Ethereum roadmap on Saturday. In the statement, he outlines his plans to implement a number of changes to the Ethereum network after the Merge in order to address a variety of issues, including censorship, block verification, and centralization.

As can be seen in the diagram that Buterin posted on his Twitter page, the new roadmap has also been amended to incorporate a new phase that is being referred to as The Scourge.

According to Buterin, The Scourge will assure dependable and fair credibly neutral transaction inclusion, and it will also address MEV concerns.

Buterin noted that the revised roadmap includes more precise milestones for each category and a more explicit role for quantum-proofness as an essential component of the “endgame” protocol. Other phases in the roadmap include the Surge, Verge, Purge, and Splurge.

The EIP-4844 and Danksharding, rollups, and zkEVM protocols are all part of the Surge phase. Scalability and capacity are two areas that Ethereum hopes to enhance, with the goal of handling 100,000 transactions per second. In addition, the milestones contain both the basic rollup scaling as well as the complete rollup scaling.

The Verge will introduce “verkle trees,” which contain a greater amount of data in a smaller proof and so permit a lower node size. Now, the phase now contains a verification, which makes using SNARKs to verify blocks quite simple and straightforward.

The protocol is made easier to understand thanks to The Purge phase, which requires clients to delete previous data. Nevertheless, this calls for the development of systems to store historical data.

The objective is to reduce the expenses of joining in the network while simultaneously paying off any outstanding technological debt.

During The Splurge phase, the primary goals are to improve the user experience by adding additional security and flexibility. In addition to that, it consists of the Endgame EVM, the Endgame EIP-1559, and the Endgame account abstraction.

Ethereum crosses the $1600 mark

The price activity of Ethereum (ETH) began the weekend in a direction that was rather optimistic. In the last twenty-four hours, the price of the world’s second-largest cryptocurrency has increased by 0.7%, bringing it to $1,624 at the time this article was written.

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Source: CoinMarketCap

The price of Ethereum increased by 32% from October 21 to October 29, setting a new local high at $1,663. This rapid increase has already resulted in a series of lower lows following October 29, but Ether has not yet caused a substantial market structure change by falling below the swing low at $1,479 that was reached on October 28.

The crypto market during the weekend

The value of the global cryptocurrency market as a whole is also in the green after climbing back over $1 trillion and increasing by 2.16% in the preceding twenty-four hours.

Based on the well-established theory, the positive was prompted by the idea that for the U.S. Federal Reserve, growing unemployment may be a justification to adjust its aggressive monetary policy and slow down the pace of the Fed rate rises. This assumption led to a rise in the market’s perception of the U.S. economy.

As the movement toward the institutionalization of the cryptocurrency market continues, it seems pointless to lament the fact that the cryptocurrency market has grown intertwined with conventional financial markets.

In light of this, the most recent financial results report from the most prominent cryptocurrency exchange in the United States, Coinbase, revealed that institutional investors accounted for 83.6% of the exchange’s total trading volume. This was the case despite a drop in trading volume of $58 billion.

Jai Hamid

Jai Hamid

Jai Hamid is an enthusiastic writer whose current area of interest is the blockchain sector. Whenever she is not reading or writing, you can find her tending to her plants in the garden. She strongly believes that crypto is going to transform the world for the better.

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