Ethereum Roadmap for 2024: Minor Adjustments from 2023
Ethereum founder Vitalik Buterin has revealed the roadmap for 2024, noting that the changes from the previous year are minor. In a series of posts on X, Buterin has outlined six main components of Ethereum (ETH).
Buterin provided a detailed chart with annotations and diagrams to explain the six elements: the merge, the surge, the scourge, the verge, the purge, and the splurge. He noted that as the technical direction of Ethereum becomes clearer, the adjustments compared to 2023’s roadmap are only minor.
As the crypto industry continues to evolve, Buterin’s roadmap will be a key factor in the fight against government crypto and the emergence of Web 3.0. It remains to be seen if Ethereum’s burning and merging will be enough to push the industry into the era of Web 3.0.
The Merge and Energy Consumption Reduction
The Merge, which was highlighted as a key section on the roadmap, was aimed to maintain a simple and resilient proof-of-stake (PoS) consensus and took place in September 2022. This integration of the Ethereum mainnet with proof-of-stake blockchain, the Beacon Chain, led to a major reduction in the network’s overall energy consumption.
The transition from a power-intensive proof-of-work (PoW) consensus mechanism to PoS was the most significant observation on Ethereum. Additionally, the developments on Ethereum’s single slot finality (SSF) were noted. SSF aims to ensure that changes to a blockchain block are irreversible without burning at least 33% of the total staked ETH.
Cypherpunk Revolution
Recently, Ethereum founder Vitalik Buterin proposed to bring back the original vision of the “cypherpunk” revolution to the blockchain. Cypherpunks are those who use encryption to protect their privacy when accessing a computer network, especially from government authorities.
Buterin’s original idea for Ethereum was to create a “public decentralized shared hard drive” that could use peer-to-peer messaging and decentralized file storage. Unfortunately, by 2017, the focus had shifted to financialization of Ethereum.
As the crypto world continues to fight out government regulations, the question of whether web 3.0 has already started arises. Buterin believes that the cypherpunk revolution could be the merge of crypto and government, burning the boundaries between the two.
Vitalik Buterin pointed out that technologies such as rollups, zero-knowledge proofs, account abstraction and second-generation privacy solutions have become increasingly popular. He stated that these could uphold certain values that are associated with the crypto-anarchist ideals.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments