In recent days, Vitalik Buterin has multiplied the proposals for modifying the Etehreum blockchain of which he is the originator. In addition to improving its performance, he would also like to increase the security of the network in order to ward off possible quantum threats.
New blockchain improvement proposals centered on the Ethereum virtual machine
In a new blog post titled “The Splurge,” Vitalik Buterin unveiled new proposals this Tuesday with the aim of updating the Ethereum blockchain of which he is one of the founders. Its improvements are mainly concentrated on Ethereum Virtual Machine (EVM).
🔎 What is Ethereum Virtual Machine (EVM)?
Ethereum co-founder said he would like to bring EVM “ to a stable and efficient final state “. To achieve this, Vitalik Buterin has set several objectives including integration of account abstraction For ” improve user experience ” And optimizing transaction fee savings.
The next Ethereum update called Pectra, scheduled for late 2024 or early 2025, should include stage 1 of the plan to introduce these improvements for the EVM. A new code called EVM Object Format (EOF) will allow, among other things, to separate code and data, which aims to facilitate the processing of code by layer 2 based on Ethereum.
However, Vitalik Buterin specifies “ that it remains to be determined the best way to fully integrate account abstraction into the protocol “. The co-founder of Ethereum spoke about his preference for EIP-7701 which allows the implementation of account abstraction on EOF code.
Regarding the economics of transaction fees, Vitalik Buterin presented THE ” multidimensional gas »which he describes as “ having separate prices and limits for separate resources “. Multidimensional gas would make it possible to better evaluate the available blockchain resources and therefore, “ to reduce pressure on the need to optimize performances of the network “.
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Improving network security to address the threat of quantum computing
At the same time, Vitalik Buterin declared that his proposals for improvements must allow Ethereum to reach “ an advanced level of cryptography »making it resistant to quantum technologies that could in the future exploit flaws in networks.
For the co-founder of the blockchain, these quantum computers do not exist at the moment “, current machines not being powerful enough to break blockchain encryption »:
Even if “real” quantum computers are coming soon, the day when ordinary people will have quantum computers on their laptops or phones will arrive decades later the day when powerful institutions have one capable of deciphering elliptic curve cryptography.
💡 Find out more – What is cryptography, and what is its role in cryptocurrencies?
However, Vitalik Buterin remains cautious, preferring to anticipate any innovation in quantum computing. Thus, the Dencun update applied to Ethereum last March, had already enabled “ to mitigate the threat of quantum computing “.
This month, Chinese researchers from Shanghai University said having identified certain encryption algorithm flaws used in finance and the cryptocurrency sector thanks to quantum computing.
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Source: Vitalik Buterin (blog)
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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