Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here !
(Kitco News) – Ethereum’s future development has just experienced a new phase – The Scourge – after co-founder Vitalik Buterin added it to the project’s six-part technical roadmap on November 5. Buterin revealed the phase via a Twitter post, providing the biggest update on the project since its successful completion of The Merge on September 15.
Since the move to proof-of-stake has been completed, Ethereum is in the second phase, known as Surge, which is designed to help the network reach 10,000 transactions per second through the implementation of staking solutions. scaled as Zero-Knowledge (ZK) rollups.
Previously, the Surge was followed by three additional stages – the Rod, the Purge, and the Splurge – but now the Flail has been inserted as a third stage. The roadmap was originally divided into different phases by Buterin in 2018, with the phased approach aimed at ensuring that the principles underlying each phase were fully developed and adhered to.
According to the recently updated roadmap, the Scourge’s goal is to “ensure trustworthy and neutral transaction inclusion in a credible manner and avoid centralization and other SRM protocol risks.”
Miner Extracted Value (MEV) is the process by which a miner can dictate how transactions are included in a block and in what order, allowing them to outrank other participants on the network and extract value at his costs.
Due to the increased prevalence of MEV, many now associate the Ethereum network with a higher level of centralization, which Beterin wants to rectify.
According to the co-founder of the project, the Scourge will help create a more “credibly neutral” layer of consensus by removing the ability for miners to exploit transactions that occur on the network in their favor. Buterin has previously referred to a credible and neutral mechanism as one that “does not discriminate for or against any particular person”.
Full details of the Blight have yet to be released, but Buterin’s previous posts hint at what it might include, such as a “Partial Block Auction” solution where the ab block builder is only allowed to decide only part of the content of the block, decrease their level of influence.
Proposals to tackle consensus-level censorship have also been submitted, including the Single Unifying Auctions for Value Expression (SUAVE) solution offered by Ethereum research and development company Flashbots.
Along with the Scourge addition, a Verge update was also confirmed in Buterin’s post, which details the integration of Succinct Non-Interactive Argument of Knowledge (SNARK) technology into the smart contract platform. . SNARKs will bring privacy protection features to the Ethereum network that simultaneously allow anonymous transactions to be tracked.
Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.