The Future of Ether: Buterin Pushes for Stronger Ethereum Security and Faster Transactions Post-Merge
Vitalik Buterin, a co-founder of Ethereum, expressed his thoughts on the protocol’s current condition and its future development following the Merge on social media. Buterin outlined several important areas in a thorough blog post published on October 14 where Ethereum might see major improvements, such as increased accessibility for solo stakers, more security, and faster transaction times.
The proof-of-stake (PoS) protocol replaced the proof-of-work system with the Ethereum Merge in 2022. Although Buterin praised the event as well-deserved and long-awaited, he pointed out that PoS still needs to develop in several crucial areas. Buterin stated that cutting down on transaction latency is one of Ethereum’s main objectives for the future.
Buterin’s Strategy for Ethereum: Lower Staking Threshold and Enhanced Network Security
In order to significantly cut down on transaction time, Buterin recommended looking into options like single-slot finality. In addition to improving Ethereum’s general user experience, this would increase its competitiveness. In July, he had earlier suggested single-slot finality.
On the other hand, Buterin also talked about opening out Ethereum to a wider audience. By reducing the minimum staking value to 1 ETH, he suggested allowing more users to participate in Ethereum’s governance and security. By doing this, Ethereum would become even more decentralized and less susceptible to a single party acquiring an excessive amount of power.
By using a cryptographic approach called single secret leader election, Buterin emphasized the significance of defending Ethereum against assaults and making it more difficult for attackers to disrupt the network. He also proposed raising the quorum level and recovering from 51% attacks, as well as looking into ways to strengthen the protocol’s defense against threats from quantum computing, which could be a big obstacle in the future.
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