Ethereum co-founder Vitalik Buterin has announced “The Splurge,” a new development phase that aims to make Ethereum quicker, more secure, and ready for future challenges such as quantum computing.
This stage of the roadmap focuses on Ethereum’s long-term flexibility and user accessibility, with a goal of “fixing everything else” to address outstanding scalability and security concerns.
Buterin’s approach to preparing Ethereum for the future advent of quantum computers emphasizes his commitment to staying ahead of any encryption weaknesses and assuring Ethereum’s cryptographic robustness.
Buterin’s main focus in “The Splurge” is enhanced cryptography, which could safeguard the network against the encryption-breaking capabilities of future quantum computers.
Although such technology is not yet a reality, Buterin emphasizes the need to take proactive actions to ensure the blockchain’s security over time. The implementation of new cryptographic techniques is an important component of Ethereum’s resilience plan, allowing the network to resist potential future attacks.
The Splurge, 2023 roadmap
A notable improvement in “The Splurge” is “account abstraction,” a feature aimed to improve user experience by allowing transaction fees to be paid in tokens other than Ethereum’s native currency, ETH.
This flexibility is expected to improve interactions with decentralized applications (dApps), particularly for beginning users, by eliminating the need to keep ETH simply for transaction fees. The next “Pectra” version will also include the EVM Object Format (EOF), which will simplify Ethereum Virtual Machine (EVM) operations and enable Layer-2 scaling solutions.
These upgrades align with Buterin’s earlier “Purge” initiative, focused on streamlining Ethereum’s storage needs and data management. Together, “The Splurge” and “The Purge” are set to make Ethereum more scalable, cost-effective, and accessible, ensuring it can handle increased usage while remaining secure and user-friendly.
Buterin’s proposed “multidimensional gas” model separates fees by resource type, such as storage and computing, to make fees more controllable and to avoid worst-case resource usage. This concept has the potential to make Ethereum more inexpensive, hence increasing accessibility for users who rely on the network for dApps and other services.
Vitalik Buterin recently proposed “multidimensional gas” to tackle Ethereum’s high transaction fees, especially during network congestion. By categorizing fees based on resources like data storage and computational power, this approach aims to reduce costs, making Ethereum more affordable and efficient for users.
Also Read: Vitalik Buterin Shares “The Verge”: A Game-Changer for Ethereum?
