In a recent interview with the NFT platform Defiant during his visit to Turkey, Ethereum co-founder Vitalik Buterin addressed the issue of staking centralization within the Ethereum network. Buterin emphasized the need to revamp Ethereum’s staking mechanism in order to foster healthier mining and staking pools, ultimately aiming to enhance the overall decentralization of the platform.
EIP 4844: Danksharding and Enhanced Scalability
Buterin shed light on EIP 4844, commonly known as Danksharding, as an imminent upgrade in the Ethereum ecosystem. This upgrade is poised to enhance the data map space, increasing it to 16 Megabytes per slot. Through the post-upgrade phase, parameters and attributes will be configured to refine Ethereum’s scalability and efficiency.
This strategic move aligns with Ethereum’s continuous evolution to address scalability challenges and promote a more democratic and less disruptive process. Buterin proposed the implementation of a voting system to govern future changes on the Ethereum network, potentially eliminating the need for hard forks.
The Dencun Upgrade: Enhancing Scalability, Efficiency, and Decentralization
Ethereum’s roadmap includes the highly anticipated Dencun upgrade, expected to go live in early 2024. This upgrade aims to play a pivotal role in improving Ethereum’s scalability, efficiency, and decentralization.
Buterin also explored the possibility of adopting the Unspent Transaction Output (UTxO) approach, a model utilized by blockchains such as Bitcoin and Cardano. This reflects Ethereum’s openness to diverse approaches in addressing existing challenges within its network.
“No worries, Ethereum 3 will have it all sorted.” – Charles Hoskinson
While Buterin’s proposals generated discussions within the crypto community, Cardano founder Charles Hoskinson responded with a touch of sarcasm. He stated, “No worries, Ethereum 3 will have it all sorted.”
