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Vitalik Buterin reveals Ethereum’s 2024 Strategy for PoS Advancements

Crypto Ethereum's founder, Vitalik Buterin, has asserted that the adoption of Single Slot Finality (SSF) represents the most straightforward solution to address various shortcomings in Ethereum's Proof-of-Stake (PoS) design. Buterin recently shared the Ethereum roadmap for 2024, acknowledging that it features only minor changes from the previous year.Outlined in a series of posts, Buterin emphasized
Ethereum’s founder, Vitalik Buterin, has asserted that the adoption of Single Slot Finality (SSF) represents the most straightforward solution to address various shortcomings in Ethereum’s Proof-of-Stake (PoS) design. Buterin recently shared the Ethereum roadmap for 2024, acknowledging that it features only minor changes from the previous year.

Outlined in a series of posts, Buterin emphasized six main components that will be pivotal for Ethereum in 2024, amidst a fluctuating market where ETH is currently priced at $2,294. These components are labeled as the merge, surge, scourge, verge, purge, and splurge. Notably, Buterin emphasized that the technical direction for Ethereum is now more defined, resulting in only a handful of adjustments compared to the 2023 roadmap.

A key focus on the roadmap is “The Merge,” a critical step aiming to maintain a simple and robust Proof-of-Stake (PoS) consensus. The successful integration of the Ethereum mainnet with the Beacon Chain’s PoS blockchain in September 2022 marked a significant transition from the power-intensive Proof-of-Work (PoW) consensus mechanism to PoS. This shift led to a substantial reduction in the network’s overall energy consumption.

Highlighting developments in Ethereum’s Single Slot Finality (SSF), Buterin emphasized its role in post-Merge PoS improvement. SSF’s significance lies in ensuring irreversible changes to a blockchain block, requiring the burning of at least 33% of the total staked ETH.

Single slot finality (SSF) diagram.

In a broader context, Buterin expressed a desire to bring back the original concept of the “cypherpunk” revolution for blockchain. Originating from the use of encryption for privacy in computer network access, Buterin explained that Ethereum was initially envisioned as a “public decentralized shared hard drive” with a focus on peer-to-peer messaging and decentralized file storage.

He lamented the shift towards financialization in 2017 but pointed out the resurgence of cypherpunk principles with the mainstream adoption of rollups, zero-knowledge proofs, account abstraction, and second-generation privacy solutions on Ethereum. These technologies align with the core values associated with the cypherpunk movement.

Wasif Shakir

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