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

Web3 ad service Everyworld reaches 225K users within a month of launching beta
Tristan Greene4 hours agoWeb3 ad service Everyworld reaches 225K users within a month of launching betaThe service is currently available in beta for select markets.7864 Total views14 Total sharesListen to article 0:00Ne
Bitcoin Dominance Sinks to Lowest Level in 3 Years as Ethereum, Numerous Competitors Gain on BTC
Bitcoin Dominance Sinks to Lowest Level in 3 Years as Ethereum, Numerous Competitors Gain on BTC Bitcoin dominance has dropped to the lowest level in just over three and a half yea
Elisha Owusu Akyaw11 hours agoHashing It Out: Diving into cross-chain DeFi lendingMultiChainZ chief operating officer Aanchal Thakur believes that cross-chain lending platforms will open users up to more liquidity.5203 T
AMC Confirms Plan to Accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash
AMC Confirms Plan to Accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash The world’s largest movie exhibition company, AMC Entertainment, has announced its plan to accept c
Deutsche Bank Expects Sooner, More Severe US Recession as the Fed Takes ‘Aggressive Hiking Path’
Deutsche Bank Expects Sooner, More Severe US Recession as the Fed Takes "Aggressive Hiking Path" Deutsche Bank has updated its recession forecast. The bank’s economists now
Tristan Greene6 hours agoResearchers in China developed a hallucination correction engine for AI modelsThe “Woodpecker” hallucination correction system can, ostensibly, be applied to any multimodal large language mod
Famous Malaysian Actor Fined for Stealing $50,000 Worth of Crypto From His Producer
Famous Malaysian Actor Fined for Stealing $50,000 Worth of Crypto From His ProducerA Malaysian court has fined famous local actor Mas Khan $4,000, or 26 months in jail, for stealing
Senate proposal for crypto tax exemption is long overdue
Nicholas Anthony4 hours agoSenate proposal for crypto tax exemption is long overdueFour senators are fighting to exempt low-value crypto transactions from federal taxation. Congressional approval for their proposal is lo
Ezra Reguerra14 minutes agoBlockchain group to push Philippines Web3 adoption via state partnershipDICT Director Emmy Lou Versoza-Delfin said there"s been a rise in innovative blockchain startups in the country, signalin
Lido Protocol Reveals Plans for Withdrawal Feature Ahead of Ethereum’s Shanghai Hard Fork
Lido Protocol Reveals Plans for Withdrawal Feature Ahead of Ethereum"s Shanghai Hard Fork While the Ethereum community prepares for the upcoming Shanghai hard fork in March, the de
US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million
US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja,
Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation
Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira"s Rapid Depreciation Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it