Vitalik Buterin reveals Ethereum game plan for 2024

    2023.12.31 | exchangesranking | 260onlookers

    Ethereum founder Vitalik Buterin has shared the Ethereum roadmap for 2024, admitting that there are only minor changes compared to last year.

    In a series of posts on X (formerly Twitter), Buterin outlines that the continued focus for Ethereum (ETH) in 2024 is on six main components. 

    Furthermore, in a detailed chart with annotations and diagrams, Buterin elaborated on these six elements, the merge, the surge, the scourge, the verge, the purge, and the splurge.

    He pointed out that as Ethereum's technical direction becomes clearer, there are only a handful of minor adjustments compared to 2023's roadmap:

    “As Ethereum's technical path forward continues to solidify, there are relatively few changes.”

    The Merge was highlighted as a key section on the roadmap, aiming to maintain a simple and resilient proof-of-stake (PoS) consensus.

    In September 2022, The Merge took place, which integrated the Ethereum mainnet with proof-of-stake blockchain, the Beacon Chain. 

    Following the merge, the most significant observation on Ethereum was the transition from a power-intensive proof-of-work (PoW) consensus mechanism to PoS, leading to a major reduction in the network's overall energy consumption.

    He further noted the developments on Ethereum's single slot finality (SSF). Finality aims to ensure that changes to a blockchain block are irreversible without burning at least 33% of the total staked ETH:

    "The role of single slot finality (SSF) in post-Merge PoS improvement is solidifying. It's becoming clear that SSF is the easiest path to resolving a lot of the Ethereum PoS design's current weaknesses.
    Single slot finality (SSF) diagram. Source: Vitalik Buterin

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    This comes after Cointelegraph recently reported that Buterin wants to bring back the original idea of the "cypherpunk" revolution for the blockchain.

    Cypherpunk refers to a person who uses encryption to ensure privacy when accessing a computer network, especially from government authorities.

    In a blog post, Buterin explained that Ethereum was initially envisioned as a “public decentralized shared hard drive” that could leverage peer-to-peer messaging and decentralized file storage. 

    However, the vision started to diminish in 2017 with the turn toward financialization on Ethereum.

    Buterin highlighted that rollups, zero-knowledge proofs, account abstraction and second-generation privacy solutions have become more mainstream. He noted that these could support certain values associated with cypherpunk principles.

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