Fun

News Feed - 2023-09-05 02:09:59

Tom Mitchelhill3 hours agoVitalik Buterin on fix for Ethereum centralization — make running nodes easierEthereum co-founder Vitalik Buterin says node centralization is one of Ethereum’s main challenges, but the perfect solution may not come for another 20 years.2047 Total views48 Total sharesListen to article 0:00NewsJoin us on social networksThe centralization of nodes is one of the biggest problems facing the Ethereum network and should be addressed by making the running of nodes cheaper and easier, according to Ethereum co-founder Vitalik Buterin.


Currently, the majority of the 5,901 active Ethereum nodes are being run through centralized web providers like Amazon Web Services, which many experts claim leaves the Ethereum blockchain exposed to a centralized point of failure.Distribution of Ethereum nodes from web service providers. Source: Ethernodes


Speaking at Korea Blockchain Week, Buterin outlined six key problems that need addressing to solve centralization but highlighted that the node issue was a “big piece of the puzzle” to ensure the Ethereum network remains decentralized in the long run.


“One of those six things is making it technically easier for people to run nodes and statelessness is one of the really important technologies in doing that right,” he explained.“Today, it takes hundreds of gigabytes of data to run a node. With stateless clients, you can run a node on basically zero.”


The concept of statelessness refers to removing the reliance on centralized service providers to verify activity on the network. According to the Ethereum Foundation, true decentralization is not possible until node operators can run Ethereum on modest and inexpensive hardware.


As Buterin noted, statelessness forms a key component of the Ethereum roadmap, with major steps towards statelessness being made in “The Verge” and “The Purge” stages:“In the longer term there’s a plan to maintain fully verified Ethereum nodes where you could literally it on your phone.”Updated roadmap diagram! pic.twitter.com/MT9BKgYcJH— vitalik.eth (@VitalikButerin) November 4, 2022


Despite statelessness forming a core part of the Ethereum roadmap, Buterin admitted that these highly-technical concerns were unlikely to be addressed any time in the immediate future.


“These technical problems will have to be addressed eventually — maybe a 10-year timescale, maybe a 20-year timescale,” he said.


Related:Ethereum staking services agree to 22% limit of all validators


Outside of statelessness, Buterin said the next most significant moves toward decreasing Ethereum centralization included making documentation easier, lowering barriers to distributed staking, ensuring staking was more secure and more broadly, making it more convenient to stake Ether (ETH) in general.


Ultimately however, Buterin concluded that the most time-sensitive and pressing concern for Ethereum as whole was achieving higher levels of scalability.


At present, Ethereum scaling protocols dominate the use of zero-knowledge (ZK) rollups.


ZK-rollups have been lauded by many within the Ethereum community as a key tool to achieving scalability, as ZK-rollups work to improve throughput on the main Ethereum chain by moving computation and state storage off-chain.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Here’s how Ethereum’s ZK-rollups can become interoperable# Blockchain# Ethereum# Vitalik Buterin# Scalability# Ethereum 2.0# zk-RollupAdd reactionAdd reactionRead moreHow to send and receive payments on the Lightning NetworkIf Worldcoin can improve the world, why not give it a chance?When will it be too late to invest in Bitcoin?

News Feed

Bolstering Separation of Money and State Following the 244th Independence Day
Bolstering Separation of Money and State Following the 244th Independence DayWith the fourth of July approaching, many Americans will have to contemplate whether or not the holiday
Report: Korean Regulator Approves Issuance and Distribution of Security Tokens
Report: Korean Regulator Approves Issuance and Distribution of Security Tokens South Korea’s Financial Services Commission (FSC) has reportedly said that Korean investors wil
Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan
Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not
Stratos Jet Charters Reveals Crypto Payment Acceptance for Flights via FTX Pay
Stratos Jet Charters Reveals Crypto Payment Acceptance for Flights via FTX Pay The Orlando, Florida-based Stratos Jet Charters Inc. has announced the company has partnered with FTX
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of United States GDP Data
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of United States GDP Data Cryptocurrency prices mostly consolidated on Thursday, ahead of upcoming GDP figures from
Ethereum Price Drops 12% As Spot ETFs Witness Significant Net Outflows
Este artículo también está disponible en español. The Ethereum price has been a joy to watch in recent weeks after initially struggling to keep pace with other large-cap
MicroStrategy completes $800M note offering to buy more Bitcoin
Helen Partz2 hours agoMicroStrategy completes $800M note offering to buy more BitcoinMicroStrategy completes $800 million convertible note offering to acquire more Bitcoin and for “general corporate purposes.”905 Tot
Cardano Founder Says Chainlink Quoted Them An ‘Absurd Price’, Here’s Why
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Carlson Group adds four Bitcoin ETFs to financial advisers
Ana Paula Pereira5 hours agoCarlson Group adds four Bitcoin ETFs to financial advisersThe $30 billion advisory firm prioritized trading volume, asset growth, and low fees when picking four Bitcoin ETFs for listing.1012 T
Tom Blackstone4 hours agoAragon Association to dissolve, will disburse $155M in assets to tokenholdersThe governing body for the aragonOS DAO-creation tool will wind down, transferring its assets to tokenholders.3716 Tot
Blockchain Entrepreneur to Regulators: ‘Crypto Community a Useful Ally’
Blockchain Entrepreneur to Regulators: "Crypto Community a Useful Ally" To many people, the year 2020 will probably go down in history as one of the most consequ
Derek Andersen3 hours agoSpanish central bank official talks about private payment services in era of digital euroBanco de España Deputy Gov. Margarita Delgado voiced concern about financial stability issues but painted