bsc.news
New Journey for Ethereum.
At the Ethereum Community Conference (EthCC) being held in Paris (France), Ethereum co-founder Vitalik Buterin discussed directly what will happen when The Merge is completed. Ethereum will have to undergo further upgrades divided into four phases: The Surge, The Verge, The Purge, and The Splurge.
Vitalik starts with a retrospective of what the Ethereum protocol has already achieve and what's next.
— Dr. Nettra Pan 🦇🔊 #w3ready (@nettra) July 21, 2022
Some phases:
1/ The Merge
2/ The Surge
3/ The Verge
4/ The Purge and
5/ The Splurge
Livestream: https://t.co/nm5cQp070X pic.twitter.com/q3sKTcT9zF
For The Surge phase, Buterin mentioned the addition of sharding technology. Sharding is a scaling solution that the Ethereum Foundation claims will further enable Layer 2 protocols to operate more efficiently, reducing fees and making it easier for users to run Ethereum network security nodes. Buterin added that once the growth phase is complete, the Ethereum network will also process transactions faster.
“Ethereum today can handle about 15-20 transactions per second. However, Ethereum will be a much more scalable system at the end of this road. Eventually, Ethereum will be able to process 100,000 transactions per second. In terms of overall network development, Ethereum could be 55% completed once we implement The Merge. So there is more work for developers ahead.” Vitalik Buterin said.
Ethereum will build an easy-to-use lightweight client for implementation and consensus layer solutions as well as Layer 2 on top of The Verge. This new model is called “Verkle trees,” a powerful upgrade that allows for much smaller proof sizes. This will optimize storage on Ethereum and help reduce node size, enabling ETH to become more scalable.
During The Purge, Buterin wants to reduce the hard drive space required for validators on Ethereum to help to eliminate historical data and bad debt, as well as streamline storage, thus reducing network congestion.
Short term pain, Long term gain is needed.
— Sachin | Biconomy.io | sachint.eth (@schin_tomar) July 21, 2022
Banning SELFSESTRUCT
EIP-4444: Clients must stop serving historical headers, bodies, and receipts older than one year on the p2p layer.
Switch to verkle trees. (Store more data in less space)
It might mean no backward compatibility. pic.twitter.com/zY4O66jJdR
Finally, Buterin has planned to improve Ethereum with better cryptographic technologies in The Splurge, which is quantum resistant and integrates smoothly with the Ethereum Virtual Machine (EVM) and Zero-knowledge technology (ZK). In addition, improvements to the EIP-1559 combustion mechanism will also be implemented.