On December 20, 2023, Vitalik Buterin shared on the X social network a detailed series of diagrams and charts that reveal the focus on six major components, including the Surge, the Merge, The Purge, the Verge, The Scourge and the Splurge. Every element here is crucial in contributing to an improved Ethereum network, each aiming to make it more scalable, robust, and efficient. The anticipation of these updates has sparked a significant interest in the Ethereum price AUD, as investors and enthusiasts alike speculate on the potential impact on its value. Ethereum is one of the most essential digital coins and platforms that brought plenty of innovation in the digital landscape, leading to the creation of smart contracts and DeFi."
Ethereum is one of the most essential digital coins and platforms that brought plenty of innovation in the digital landscape, leading to the creation of smart contracts and DeFi. Many think Ethereum will have a bright future and can even take the position of Bitcoin as the largest crypto present worldwide. We are still determining if that will happen or not in 2024, as we need to wait and see how the crypto landscape will evolve. However, until then, we can focus on the components in the roadmap published by Vitalik Buterin. So, without further ado, let's find out more information on this subject.
The Merge
The Merge was a crucial component implemented in 2022, once with the swift from a PoW to a PoS consensus mechanism. The Merge brought great advantages to Ethereum's network, as it reduced energy consumption in a significant way and led the path to future upgrades. In the 2024 roadmap, Buterin emphasizes the importance of maintaining a resilient and simple PoS consensus, highlighting its importance for network efficiency and stability. The Merge is a testament to Ethereum's commitment to efficiency and sustainability in its blockchain operations.
The Surge
With the help of the Surge, Ethereum could improve its scalability in an excellent way by implementing data fragmentation. This fragmentation will involve splitting the main blockchain into smaller parts to make the data store and transaction processes more efficient. The upgrade wants to reduce transaction costs and increase network capacity, thus contributing to Ethereum's scalability goals, including having a Layer 2 network and achieving 100,000 transactions per second.
The Scourge
The Scourge update wants to address the security concerns, which have become a priority for the Ethereum network. It focuses on improving the platform's robustness and mitigating potential vulnerabilities. This could be done by enhancing the security of smart contracts, exploring new consensus mechanisms, and addressing the issues associated with liquidity pooling and Miner Extractable Value (MEV).
By tackling all these issues, Ethereum could become a more decentralized and equitable economic environment for all its participants.
The Verge
This feature wants to improve developer tools and simplify user experiences. In this way, the Ethereum interface will be easier to use, and the development of decentralized apps or other applications will improve. As a result of this upgrade, the block verification will be simplified, making the platform more manageable and accessible. This will benefit both the users and developers from a more efficient and user-friendly ecosystem.
The Purge
The Purge focuses on cleaning up the Ethereum protocol by removing unnecessary and obsolete code. With the help of this update, Ethereum will reduce the potential dangers associated with the old code and improve the network's overall efficiency. This will be a continuous refinement to maintain the platform efficiently and agile. If the network eliminates deprecated code, it will create a more secure and streamlined system, thus improving the stability and overall performance of the platform.
The Splurge
The Splurge is a vital investment in the future of Ethereum. It includes developing and researching potential breakthroughs and emerging technologies for the Ethereum network. It focuses on developing zero-knowledge proofs, rollups or other privacy solutions. This update is a commitment to staying innovative and at the forefront of the blockchain. It also aims to push the boundaries of the current network and improve the adoption of cutting-edge technologies that will enhance the privacy and capabilities of the Ethereum platform.
The Ethereum Dencun upgrade
The Dencun upgrade, also known as the Cancun-Deneb, follows the Shanghai upgrade, and it is an eagerly awaited event expected to appear in the first quarter of 2024. This upgrade will adopt nine Ethereum Improvement Proposals (EIPs) that will hold a huge significance, as it will revolutionize another milestone in the evolution and development of the Ethereum platform. With the help of these EIPs, the upgrade will be able to enhance the security, functionality and overall user experience of the Ethereum platform.
Decun represents the beginning of a transformative era in Ethereum's roadmap. The co-founder of Ethereum, Vitalik Buterin, envisions a better future for Ethereum where the platform will remove the scalability issues and achieve 10,000 transactions per second due to the Surge. The upgrade will offer a good foundation for Ethereum to create mass scalability because it will implement layer-two rollups.
As happened with the other upgrades in the past, The Cancun-Deneb has the potential to enhance the network by solving various issues that the platform currently deals with. The upgrade will be a vital milestone in improving the crypto ecosystem by addressing security, scalability, and efficiency, which could pave the way to widespread adoption. With all these improvements, Ethereum can become a more user-friendly and robust platform, which could foster the acceptance and growth of cryptocurrencies.
The bottom line
Vitalik Buterin highlights that the Ethereum 2024 roadmap will have a vital commitment to improving the network's efficiency, scalability, usability and security. The roadmap also reflects the desire to continue with the original principles of privacy and decentralization, thus ensuring the utility and relevance of the platform in an evolving digital landscape.
Do you think the Ethereum network will improve with all the upgrades that are expected to happen in the future?
