Advertisement
AD

Main navigation

Vitalik Buterin Wants to Redesign Ethereum, Here's How It Will Affect Everyone

Advertisement
Mon, 27/11/2023 - 11:00
Vitalik Buterin Wants to Redesign Ethereum, Here's How It Will Affect Everyone
Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Ethereum's cofounder Vitalik Buterin has proposed an ambitious redesign for the Ethereum network, which, if implemented, could have profound implications for users and developers. Speaking at Devconnect in Turkey, Buterin outlined a strategy to enhance Ethereum staking and address performance issues that have been persistent thorns in the network's side.

Advertisement

Buterin's vision includes integrating private mempools and ERC-4337. Private mempools could offer users enhanced privacy and security by allowing them to conduct transactions without exposing their intentions to the public mempool where miners could see and potentially exploit them. ERC-4337 refers to account abstraction, allowing users to have more sophisticated control over their accounts, with operations like multisig wallets becoming easier to implement and more secure.

Code precompilation is another feature Buterin is keen on integrating. This could potentially increase the efficiency of smart contract deployment, making them quicker and cheaper to execute by preprocessing some elements of the code.

Related
Tron (TRX) Founder Justin Sun Stakes 150,100 ETH in Lido Finance: Details

Liquid staking, a process that allows stakers to liquify staked (or locked) assets, is a feature Buterin wants to see improved. He has expressed concerns over the centralization of liquid staking solutions, which could be a risk for the network if too much control is in the hands of a few entities like Lido Finance. Decentralizing this aspect could democratize the staking process, giving more users the chance to participate without relinquishing liquidity.

The redesign Buterin proposes would likely make Ethereum more scalable, secure and efficient. These changes could lower the barriers to entry for new users and developers, fostering a more inclusive and robust ecosystem. The exact impact on Ethereum's price and the broader crypto market is speculative, but typically, improvements that address fundamental issues and enhance usability bode well for the network's value and adoption.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD