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The purge, the splurge, and the scourgethese are the terms the eponymous co-founder of Ethereum, Vitalik Buterin, used to describe the upcoming changes to Ethereum at a recent event in London.

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On March 14, luminaries from the Ethereum community and beyond descended on London for ETHGlobals Pragma conference. Spearheaded by speakers like Vitalik Buterin and fellow Ethereum researcher Justin Drake, Chainlinks Sergey Nazarov, and Lens Protocols Stani Kulechov, the event took place in Christ Church Spitalfields, with attendeesincluding myselfanxious to know where Ethereum is headed post-Dencun upgrade.

Buterin began by stating that the Ethereum ecosystem is in the process of making a very big transition.

According to Buterin, this transition will shift from a focus on layer-1s (L1s) and core developer-centric advancements to enhancing usability and layer-2 (L2) solutions, like zkSync, Arbitrum, and Optimism.

The way that I see it is that the first decade of Ethereum is this kind of mostly inwardly focused ecosystem, developing things for itself, focused on being tech geeks, trying to satisfy tech geeks and creating beautiful technology. But the second decade of Ethereum needs to actually have a big impact on the real world.

Roll-ups, a key player in this transition, are L2 solutions that process and store transaction data on a sidechain before bundling (or rolling up) transactions together onto the main Ethereum chain, significantly enhancing scalability and efficiency without compromising security.

Buterin says that whats next is a shift towards more scalable, secure, and user-friendly horizons. Following the Dencun upgrade, which saw some L2s like Starknets gas fees reduced by as much as 99%, Ethereums stride towards achieving basic roll-up scalinga leap made possible through advancements in technology like EIP-4844 and the roll-up technology spearheaded by teams like Arbitrum, will now shift focus to allow for more user-friendly applications to take root on Ethereum.

We have officially hit basic roll-up scaling, but we still have full roll-up scaling to go, Buterin articulated, marking this milestone as the onset of a journey toward fully unlocking Ethereums scalability potential.

However, Buterin cautioned that more work is still needed. This he referred to as the purge.

We do not want the Ethereum protocol to be something that just keeps on accumulating junk, Buterin added, underscoring the necessity of a lean and agile blockchain protocol for Ethereums future. We want Ethereum to become cleaner, and this is what the purge is about; its about making users lives easier.

Then you have the splurge, Buterin said. Account abstraction, Ethereum Virtual Machine (EVM) improvements, making the EVM more friendly to advanced cryptography.

Lastly, Buterin described the scourge [] which is dealing with economic centralization risk and mitigating it. Referring to maximum extractable value (MEV) searchers and liquid staking, Buterin said that the next phases of Ethereum upgrades will work on mitigating the risks posed by economic centralization.

The elephant in the room at any Ethereum conference is, however, often Solana.

According to DefiLlamas data, over the last four months, Solana has significantly outperformed in terms of DEX volume, recording a total volume of $98.54 billion. This starkly contrasts with Ethereum mainnets $32.16 billion, not even reaching one-third of Solanas volume. When taking into account all Ethereum L2 solutions, the combined volume only reaches $67.31 billion, highlighting a clear dominance by Solana.

In the past 90 days, Ethereum hasnt led in volume on any day, with Solana consistently holding the top spot and BSC making occasional appearances.

While Ethereum enthusiasts may hold onto their narratives, the numbers paint a different picture. Given Solanas performance, Ethereum upgrades seem to be playing catchup; think again.

According to Justin Drake, a researcher at the Ethereum Foundation, the potential of Ethereum sharding and shared infrastructure components like settlement and data availability will eventually enhance the networks performance. Comparing developments to low-network fee blockchains like Solana, Drake introduced the concept of shared sequencing and execution as forward-looking innovations designed to boost Ethereums composability and efficiency. In some sense, were trying to recreate the user experience of Solana low latency user experience with synchronous composability on Ethereum, Drake said.

Beyond the technical developments, a theme echoed frequently at Pragma in London was that by moving away from Ethereums tech-centric approach, the blockchain should now focus on more user-friendly and accessible apps for end-users.

Pedro Gomes, founder of Wallet Connect, said that user experience-focused upgrades need to happen within Ethereum, a claim echoed by several of the other speakers as well. Nick Johnson, founder of the Ethereum Naming Service (which just inked a deal with GoDaddy), said that naming is ultimately a usability issue. While Anurag Arjun, founder of Avail and former Polygon dev, opined that roll-ups will eventually lead to greater user experience. I am very bullish on app-specific roll-ups, roll-ups that become mature to a point when app devs will find them easy to use and integrate almost seamlessly.

What does this all mean for the Ethereum post-Dencun update? Ethereums past and its trajectory toward a more accessible, secure, and scalable future serve as a reminder of the blockchains foundational goals. Its not just about creating a decentralized platform but about ensuring that Ethereum evolves to meet the needs of its growing community and the broader digital ecosystem. As Ethereum continues on its roadmap, the numerous challenges aheadnot least of which include formidable competition from Solanaremain plentiful.

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Is Vitalik worried about Solana? What's next for ETH post-Dencun? These and more insights #hearsay | Opinion - crypto.news

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Heres What Vitalik Buterin Proposes in Case of a Quantum Emergency - CryptoPotato

Insider Brief

Ethereum co-founder Vitalik Buterin has proposed a hard fork strategy aimed at safeguarding Ethereum funds against potential quantum computer attacks. This proposal has ignited a widespread discussion on the necessity of quantum security measures within the blockchain ecosystem, as reported by Blockchain.News.

Buterins proposed strategy involves a series of measures designed to fortify Ethereums defenses in the event of a quantum computing breach.

A quantum computers theoretical ability to solve certain mathematical problems far more efficiently than classical computers are the cause for concern. These cryptographic techniques serve as much of blockchains security. Quantum computers could again, theoretically undermine Ethereums cryptographic bedrock by decrypting private keys and compromising the integrity of smart contracts. This quantum capability could also disrupt consensus mechanisms, centralizing control or threatening the security of staked assets, which would Ethereums long-term viability and undermining trust in the platform.

Key Steps

Key steps were discussed in the Ethereum Research forum. The steps include the reversion of all blocks subsequent to the detection of a quantum attack, the suspension of traditional externally owned account (EOA) transactions to prevent further vulnerabilities, and the introduction of a new transaction type tailored for smart contract wallets that aligns with the anticipated RIP-7560 standard.

The proposal also outlines the implementation of an innovative transaction type or opcode that would enable users to submit STARK proofs. These proofs verify the users knowledge of a private preimage and a public address generated through approved hash functions, culminating in the replacement of the users account code with a quantum-resistant validation mechanism.

Among these deliberations, the web site reported that some community members voiced concerns that these measures would not be effective if people with malevolent intentions secure quantum computers capable of decrypting Ethereum wallets. These skeptics argue that distinguishing between legitimate owners and attackers could be extremely difficult under such circumstances. They advocate for the adoption of NIST standardized algorithms in a hybrid configuration with classical algorithms, such as combining the Dilithium and ed25519 algorithms, despite the resultant increase in block sizes due to the high number of signature and public key sizes of many current post-quantum schemes.

Alternative propositions include the development of machine learning systems dedicated to the surveillance and identification of anomalous transactions, serving as an early warning mechanism to activate a fail-safe fork.

The Ethereum communitys engagement with these quantum security challenges underscores the sectors proactive stance in navigating the security arms race posed by quantum computing advancements. Innovations such as Lamport signatures and ERC 4337-based quantum-resistant smart contract wallets, along with the integration of quantum-safe cryptographic solutions in digital signature applications, epitomize the blockchain sectors commitment to resilience and adaptability in the face of technological threats.

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Vitalik Buterin Proposes Hard-Fork Strategy to Protect Ethereum From Quantum Attacks - The Quantum Insider

The ETHTaipei Ethereum Developer Conference is set to take place from March 21 to March 24 in Taipei featuring a lineup of international speakers and teams, including Ethereum co-founder Vitalik Buterin. ETHTaipei is expected to attract over 1,000 attendees.

The four-day event includes two days of conferences and a 40-hour hackathon, offering a direct exchange platform for both Taiwanese and international developers. Topics will focus around Ethereum, ZK (Zero Knowledge), DeFi, and Security, with discussions on latest trends and developments in blockchain technology such as the restaking ecosystem, applications and products of ZK, and the innovative interplay between ZK and AI.

Vitalik Buterin to Share Ethereum's Post-Dencun Upgrade Vision

ETHTaipei will feature a number of high-profile speakers, including Vitalik Buterin, who will deliver a keynote talk on the first day of the conference (March 21). Buterin will share his vision for the future of blockchain and Ethereum, following the recent Dencun upgrade.

The Dencun upgrade, which was completed today, will help improve the performance and scalability of the Ethereum network. At ETHTaipei, Buterin will share more about Ethereum's long-term roadmap and his thoughts on the development of the entire blockchain ecosystem. He will also participate in two panel discussions with researchers and leaders from L1 and L2 solutions, including Optimism, Polygon, Zircuit, and Metis.

Hackathon Prize Pool Reaches $65,000

The hackathon, which kicks off on the evening of March 22, has already accumulated a prize pool exceeding $65,000. The prize pool comes from a number of well-known domestic and international teams, including Consensys, Polygon, OP Labs, Mint Club, Ora, Zircuit, MACI, Ten Protocol, Dyson, Morpheus Labs, OpSec, ThunderCoreScrollSpacemesh, and more.

The hackathon will be held in a hybrid format, allowing for online anonymous participation. On-site amenities include a 24-hour Hacker House and a variety of snacks and beverages, fostering collaboration among developers. Industry experts will serve as hackathon mentors, enabling participants to engage with seasoned professionals and rapidly enhance their skills.

Circle and Quantstamp to Recruit On-Site

Several blockchain companies, including Circle, Quantstamp, XY Finance, and AppWorks, will be present at the booth area, offering face-to-face interactions and recruitment opportunities for developers. In addition, Taiwan Ministry of Digital Affairss Digi Gold Card program will be providing consultation services at the event, with the aim of attracting more foreign digital talent to Taiwan and contributing to the development of the country's digital economy. Nuvo will also be offering on-site tasks and event surprises to add to the fun for attendees and hackers.

ETHTaipei has garnered enthusiastic support from various enterprises. BTSE generously sponsors coffee, Taiwan Mobile provides high-speed broadband internet, and KlickKlack offers wireless network equipment, and we also get vouchers from ShiYun Fried Chicken. Attendees can also enjoy exclusive treats from PaperPlane and several bars. Expect a rich agenda and delightful dining experiences, making this a memorable gathering in Taipei.

ETHTaipei 2024 Event Information

Date: March 21-24, 2024 Location: POPUP Taipei Tickets and event information:https://ethtaipei.org/

Media Contact

ETHTaipei Team ethtaipei23@gmail.com Hana Chang +886-975-856-705

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ETHTaipei: Vitalik Buterin to Share Ethereum's Post-Dencun Upgrade Vision - U.Today

Ethereum is already well-positioned to mitigate the impact of a massive quantum computing attack on the network, according to Ethereum co-founder Vitalik Buterin.

In a March 9 post to Ethereum Research, Buterin discussed what would happen if a quantum emergency happened as early as tomorrow.

Suppose that it is announced tomorrow that quantum computers are available, and bad actors already have access to them and are able to use them to steal users funds, Buterin postulated.

The blockchain would have to hard fork and users would have to download new wallet software, but few users would lose their funds, he added.

Buterin explained that the process of such a hard fork would involve rolling back the Ethereum network to the point where it is clear that large-scale theft was occurring and disabling all traditional transactions from that point.

Ethereum developers would then add a new transaction type which forms part of the Ethereum Improvement Proposal (EIP) 7560 to allow transactions from smart contract wallets.

When a user makes a transaction from their Ethereum wallet, the signature of that transaction reveals the public key, and in a post-quantum world, this would see the users private key revealed as well.

The new transaction type that forms the core part of the quantum-resist EIP would leverage Winternitz signatures and zero-knowledge proof technologies known as STARKs to ensure that existing wallets are switched to new validation code, he added.

This validation code leverages ERC-4337 account abstraction the underlying technology of smart contract wallets to prevent private keys from being displayed while signing transactions in the future, rendering these accounts immune from a quantum attack.

Related:Ethereum leans into rollup-centric future as Dencun hard fork looms

According to Buterin, users who have never approved a transaction from an Ethereum wallet are already safe from any potential quantum-related exploit, as only the wallet address has ever been made publicly available.

He also added that the infrastructure needed to implement such as hard fork could in principle start to be built tomorrow.

The advent of quantum computing has been a long-feared inflection point for the crypto industry, as a computer capable of breaking blockchain encryption could see once-untouchable user funds stolen in large volumes and at rapid rates.

However, most computer scientists and developers believe that quantum computing is still a ways off, with Google and IBM engineers estimating that quantum computing wont be sufficiently developed until 2029 at the earliest.

Magazine: Google to fix diversity-borked Gemini AI, ChatGPT goes insane:AI Eye

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A 'simple' hard fork could subvert a quantum attack on Ethereum: Vitalik Buterin - Cointelegraph

Valeria Blokhina

Check out the latest crypto news over the weekend in U.Today's news digest

U.Today summarized its top three news stories about the most important crypto events over the past weekend, check them out.

Despite Bitcoin exploring new highs, CryptoQuant analytics platform is warning market participants that the largest crypto could experiencea major correction soon. In a recentX thread, the analytics platform shared some factors backing the case, underscoring "the Bull-Bear Market Cycle Indicator has flagged an Overheated-Bull phase as prices soared above $65K." Another factor mentioned is miners being overpaid as profitability jumped to the highest level since December 2023. Additionally, CryptoQuant highlighted that traders' unrealized profit margins have reached 57%, which is historically associated with upcoming corrections as traders are bound to take profits eventually. While the platform has not offered its insights into how steep Bitcoin might fall with the impending correction, its founder and CEO Ki Young Ju shared earlier that Bitcoin is likely not going to return to its spot BTC ETF listing price around $46,376.

On Saturday, March 9, Shiba Inu lead Shytoshi Kusama took to X platformto urge the SHIB community to vote for the Bone ShibaSwap (BONE) token as it stands a chance to be listed on the Binance Futures platform. Last week, Binance unveiled a new tool dubbed Binance Futures Next, which allows the community to cast votes for the tokens they want to see listed on the Binance Futures market. At the moment of writing, BONE is ranked fifth on the platform by picks, which comprise 49,205. It is trailing behind Delysium (182,296 picks), Milady Meme Coin (121,755 picks), Baby Doge Coin (67,842 picks) and Metis (65,400). Kusama then added in his next X post that since not all countries can take part in the voting, he urges the SHIB army to press on and help the token to get to first place. Boosted by the news of the potential Binance listing, BONE soared by more than 23% on Friday. Currently, BONE is trading at $1.10, down 0.12% over the past 24 hours.

In a recent blog post, Ethereum cofounder Vitalik Buterinhas shared insights regarding his brain child's resilience against potential quantum threats. He drew attention to the inherent vulnerability of ETH addresses as well as the implications of quantum computing on cryptographic operations. Utilizing the Ethereum blockchain's architecture, Buterin suggested a feasible approach for reducing the risks associated with quantum computing. His approach combines the use of a strategic hard fork with quantum-resistant cryptographic techniques. By going back to a previous block and making changes to the transaction protocols, Ethereum might be able to prevent large-scale fund breaches. Buterin emphasizes the role of advanced cryptographic mechanisms such as STARKs in fortifying Ethereum's security posture against quantum threats. These developments, along with modifications to transaction types and validation processes, could make Ethereum more robust in the event of a quantum emergency.

About the author

Valeria Blokhina

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.

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Bitcoin Shows 'Overheating Signal,' Major Correction Possible; SHIB Lead Issues Crucial BONE Call, Vitalik Buterin Shares Ethereum's Strategy Against...

Key Takeaways

Ethereum enthusiasts have every reason to celebrate as the highly anticipated Dencun upgrade makes its debut. The hard fork could signal a pivotal leap for Layer 2 networks. Also, it is buoying hopes that Dencun can help keep ETHs priceabove $4,000.

This upgrade is far from routine, because it represents a significant leap forward in Ethereums ongoing development, with promises of marked enhancements in both efficiency and scalability.

Following last years Shapella upgrade, the Ethereum network is embarking on another evolutionary step with Dencun. This latest development introduces several enhancements aimed at accelerating transaction speeds and expanding Ethereums transactional capacity. A highlight of Dencun is the implementation of ephemeral data blobs through EIP-4844, also known as protodanksharding. Ethereum claims Dencun will reduce Layer 2 transaction fees dramatically.

Dencuns ambition doesnt stop at just making transactions faster. It also seeks to make them significantly cheaper. The upgrade aims to lower transaction fees from an average of $1 to just one cent. Indeed, for smaller transactions, the cost could be just a fraction of a cent. This reduction in fees aims to elevate the user experience, outpacing the benefits introduced by the Merge in September 2022.

Moreover, Dencun introduces a novel approach to data storage for Layer 2 networks with the introduction of blobs. These are designed to store data for about 18 days, thus optimizing costs and enhancing Ethereums scalability.

According to CCN Analyst Valdrin Tahiri, a recent market rally coincided with the Dencun upgrade for Ethereum. Although many indicators point towards a continued upswing, there are worries about the possibility of facing resistance at the $4,000 mark. Despite these concerns, Ethereum remains in a position to maintain its long-term upward trajectory towards setting a new all-time high.

However, EIP-4844 will not directly lead to lower transaction costs on the Ethereum mainnet. Nevertheless, Dencun could indirectly contribute to reduced transaction fees, potentially opening up new possibilities for on-chain activities. These could include on-chain gaming, generative art, and artificial intelligence applications, which were previously hindered by high costs.

EIP-4844 marks the beginning of the Surge phase for Ethereum, as outlined in the updated network roadmap by co-founder Vitalik Buterin in December. The ultimate aim of this phase is to achieve a throughput of 100,000 transactions per second. Following the Dencun update, Ethereums development focus may shift towards further enhancements, such as enabling Ethereum nodes to be run on mobile devices.

Buterin has also responded to a user on Twitter who voiced complaints about high transaction fees.

Tim Beiko, a key figure among Ethereum core developers, shared his enthusiasm on Twitter regarding the imminent Dencun upgrade. The developer community has shown robust engagement, with numerous client teams rolling out versions compatible with Dencun, featuring crucial enhancements for performance and stability.

The Gnosis Chains swift move to embrace the Dencun upgrade ahead of its introduction on the Ethereum mainnet has generated excitement. Joseph Lubin, co-founder of Ethereum, commended the initiative, underscoring its significance for the Ethereum ecosystem.

Some analysts and leading indicators are pointing towards a potential continuation of the current rally, suggesting the asset could reach new unprecedented highs. Influential crypto enthusiast Ali echoes this sentiment, arguing that Ethereums trajectory towards the $5,000 mark is becoming more apparent as resistance levels diminish. Ali highlighted the $4,522-$4,646 range as a critical supply zone, noting that its where nearly 600,000 addresses collectively possess over 1.63 million ETH.

Furthermore, data from the crypto analytics firm IntoTheBlock indicates that the assets recent surge in value has been advantageous for investors, with an impressive 95% of them currently enjoying unrealized gains.

However, there is one word of warning. When the much anticipated Merge saw Ethereum move to a proof-of-stake consensus mechanism in September 2022, ETH did not move anything like as much as it could have done. Investors will be hoping that Dencun will be better for Ether.

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Ethereum Dencun Upgrade: Will it Boost ETH Price or be Another Merge? - CCN.com

Key Takeaways

After Ethereum underwent Dencun upgrade to increase scalability and efficiency, ETH price has been sluggish. Meanwhile, rival blockchainSolanais just 35% down from its all-time high. Is the upgrade givingSolanaa competitive edge?

Ethereums Dencun went live on March 13 and marked a major step in scalability. Ethereum co-founder Vitalik Buterin took toWarpcastto state that they have hit a goal of Basic rollup scaling, which means theyve improved how Ethereum handles a lot of transactions at once.

He continues to state that now ETH is moving on to work on two new things: verkle trees and history expiry.

Verkle trees will make it possible for validators to do their job without needing a lot of computer memory. This is like having a really efficient way to check and keep the network secure without taking up almost nil disk space on the nodes. It will also make it much quicker for someone to start participating in the network as a validator to support the network on their own (solo staking).

Ethereumdeveloper Tim Beiko took to X to state that Dencun update is one of the most complicated changes theyve made to Ethereum since the Merge.

Beiko notes that it also has as many individual updates, known as EIPs (Ethereum Improvement Proposals), as a previous major update called Byzantium.

Meanwhile, ETH price has taken a hit on March 14 and is trading under the psychological level of $4K at press time.

Solanaon the other hand has clocked in gains. As per CoinGecko data, SOL is trading 36% under its all-time high which was surpassed in 2021. It has gained at least 13% in the run-up to the upgrade in 7 days.

The introduction of EIP-4844 is a crucial update as it aims to alter how transaction fees are calculated and reduce costs for L2s. For instance, ArbOS Atlas is also bringing about reductions in fees for users of Arbitrum One. But what is noteworthy is the hike in dollars locked on Solana. In March, the ecofriendly chain has continued to increase its total value locked (TVL) and is inching closer to $4b.

In 7 days, Solana also experienced a positive shift in investor behavior. As per CoinShares data, it attracted $24m in inflows, despite recently facing a downturn in market confidence due to network outage.

Meanwhile,Ethereum, which has had a strong year in terms of attracting investments, witnessed a slight retreat with $2.1m leaving the platform during the same period.

The Ethereum Dencun upgrade sets new benchmarks for scalability and efficiency for L2. Meanwhile, despite the February outage in Solana, inflows continue to pour in for the eco-friendly chain. As Ethereum gears up for further upgrades,Solanais making waves, potentially shaking up the second-largest chain competitively.

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Ethereum Dencun Upgrade: Solana Reaction is a Competitive Stir - CCN.com

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Grant Cardone Asks How High Bitcoin Can Go After Reaching an All-Time High - GOBankingRates

In the coming months, Allanah Ceasar hopes to be offering tomatoes, cantaloupe, cucumbers, turnips and an abundance of other freshly grown organic foods through a garden project that itself is growing and changing.

Ceasar is the program director of LIFE Farms, formerly Lufkin Urban Garden & Market, at 805 Sayers St. in Lufkin.

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LIFE Farms supplies nutritious food, work training to community - Lufkin Daily News