- Ethereum’s transformative roadmap includes phases like “Surge,” “Purge,” and the groundbreaking “Splurge.”
- Proto-Danksharding, set to launch in Q4 2023, promises enhanced data availability for rollup networks.
Deciphering Ethereum’s Vision for a Decentralized Future
As the primary smart contract platform, Ethereum is primed to redefine the internet’s paradigm. Its meticulously crafted upgrade roadmap aims to transition the web from a centralized entity, dominated by tech giants (known as Web2), to a user-centric decentralized model termed web3. This shift champions user ownership and control over data and identities.
Web3: Ethereum’s Take on the Decentralized Internet
Stacy Muur, a notable Web3 developer, recently illuminated the community on Ethereum‘s upgrade trajectory and its implications. In the prevailing Web2 era, major platforms harvest and monetize user data. Ethereum, with its strategic upgrades, aims to pivot away from this model.
“The Merge” has already marked its presence as one of Ethereum‘s most consequential upgrades since its 2015 inception. Yet, the horizon holds more transformative phases.
“The Surge” is next in line, marking its territory in the scalability domain. It pioneers the integration of Proto-Danksharding, a mechanism to bolster data availability for rollup networks. EIP-4844, slated for a Q4 2023 launch, will facilitate this while optimizing operational costs linked to rollups and layer-2 networks.
Subsequently, “The Scourge” will prioritize upgrades that fortify censorship resistance, decentralization, and mitigate protocol risks stemming from MEV (maximal extractable value).
Transitioning from Merkle Trees to Verkle Trees, “The Verge” aims for statelessness, refining block verification processes. This eliminates the need for validator nodes to maintain a comprehensive copy of Ethereum’s state, streamlining operations.
Meanwhile, “The Purge” focuses on protocol simplification, curbing historical data storage, and trimming technical redundancies, as Muur articulated.
The Ultimate Upgrade: “The Splurge”
The zenith of Ethereum’s upgrade journey is “The Splurge.” This encompasses overlooked upgrades, introducing concepts like Account Abstraction, Verifiable Delay Functions, and enhancements for the Ethereum Virtual Machine (EVM).
While other platforms, such as Solana and Base, race to boost throughput often at reliability’s cost, Ethereum adopts a meticulous approach. It envisions transforming into the decentralized financial backbone of the imminent internet era.
However, amid these progressive strides, Ethereum‘s native token, ETH, remains stagnant in its price movement, with the current valuation hovering around $1,635.
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