As a researcher with a background in blockchain technology and a keen interest in advanced cryptography, I find Vitalik Buterin’s recent insights into Ethereum’s roadmap particularly intriguing. His focus on making Ethereum resistant to future quantum computers is not only visionary but also pragmatic, given the rapid advancements in technology.
One way to rephrase that sentence in a natural and easy-to-read manner is: Vitalik Buterin, co-founder of Ethereum, mentions that one aim within the blockchain’s development plan is to explore cutting-edge cryptography techniques to ensure it remains secure against potential future quantum computers, which might crack current encryption methods.
In a blog post dated October 29th, Buterin expressed that there is still much work ahead, referring to a segment of the blockchain’s plan known as “The Spending Spree.
On the contrary, he stated that quantum computers, believed to have the capability of cracking encryptions, “have yet to materialize.
According to Buterin, the so-called quantum computers being advertised online are often merely prototypes or, more intriguingly, not genuine quantum computers as defined by their inability to execute significant calculations.
As a crypto investor, I ponder over the prospect of quantum computers becoming mainstream. While it’s possible that we might witness the advent of ‘real’ quantum computers sooner rather than later, it’s important to note that the day ordinary folks like us will have quantum computers on our laptops or phones could be several decades away from the day when powerful institutions get their hands on one capable of breaching elliptic curve cryptography.
In a recent post, the co-founder of Ethereum outlined his vision for “The Splurge,” which marks the sixth phase in a series of proposals he’s presented for Ethereum’s development plan. This stage is intended to address and rectify any remaining issues with the blockchain.
Each phase – such as The Merge, The Surge, The Scourge, The Verge, and The Purge – unfolds simultaneously and highlights distinct facets of the blockchain’s development.
As an analyst, I can express this as: According to Buterin, The Splurge primarily concentrates on enhancing the Ethereum Virtual Machine (EVM) and delving into specialized areas.
He mentioned that there are numerous small yet crucial aspects of the Ethereum protocol design that significantly contribute to its success, but these elements don’t neatly fall under any specific larger category. He referred to this as “the Splurge” – a term used to denote these miscellaneous, yet important aspects.
As a researcher, I’m focusing on advancing The Splurge project by aiming to achieve its primary objectives. These include guiding the Ethereum Virtual Machine (EVM) towards a secure “endgame state,” integrating account abstraction within the protocol itself, and enhancing the efficiency of transaction fees by optimizing their economics. Additionally, I’m exploring the realm of “advanced cryptography” to further strengthen the project’s security and resilience.
The upcoming Ethereum update, named Pectra and scheduled for later this year or early next, is set to mark the initial stage in enhancing Ethereum Virtual Machines (EVMs). According to Buterin, this involves a series of suggestions that outline a fresh version of EVM code.
The EVM Object Format (EOF), or simply the code, is designed with a key feature that separates code and data. This separation is intended to streamline the process of handling code for second-layer blockchain networks, making it more manageable.
In essence, Buterin proposed that an effective strategy for further enhancing Ethereum L1 might involve incorporating and expanding upon the EOF (Ethereum 2.0 Offset) as a key component.
In Pectra, another plan is set to be unveiled that will allow every user access to the “user-friendly” aspects of account abstraction, as stated by Buterin. Essentially, account abstraction allows users to utilize a wallet-like smart contract, thereby expanding the variety of interactions they can have with the blockchain.
One convenience feature Buterin noted was the ability for an account to be able to pay transaction fees with ERC-20 tokens, compared to now where users can only pay in Ether (ETH).
He mentioned that the key point left to address is finding a way to completely incorporate account abstraction within the protocol. A well-known Ethereum Improvement Proposal (EIP) that has recently gained traction and focuses on implementing account abstraction is EIP-7701, which operates on top of EOF.
Apart from this, Buterin elaborated on Ethereum’s transaction fee structure, proposing a system he referred to as “multidimensional gas.” In simpler terms, this concept involves setting different prices and limits for distinct resources within the blockchain, aiming to create a more accurate pricing mechanism for the resources available on the network.
As a crypto investor, I was told that we possess a versatile execution methodology, encompassing multiple dimensions, including data points today. In essence, there’s room for expansion, potentially extending to additional dimensions such as calldata, reading and writing to the state, and expanding the size of the state itself.
He claimed multidimensional gas could reduce “worst-case” uses of resources, which would “reduce pressure on the need to optimize performance.”
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2024-10-29 09:10