Vitalik Buterin, the co-founder of Ethereum (ETH), recently shared a report discussing the upcoming improvements to be implemented on the Ethereum network. These improvements were prompted by concerns raised by the ETH community. Buterin emphasized that the focus will be on PeerDAS, the transition to Verkle trees, and decentralized methods for storing history, as outlined in EIP-4444.
“I am currently in Kenya, where we have made significant progress in implementing and defining the technical details of important future Ethereum improvements. This includes PeerDAS, the Verkle tree transition, and decentralized approaches for storing history as proposed in EIP 4444. From my perspective, it seems that the pace of Ethereum development and our ability to deliver major features that greatly enhance the experience for both node operators and users (L1 and L2) is increasing.”
Buterin emphasized the importance of decentralization in his comments on a blog post. Additionally, he addressed concerns regarding Maximum Extractable Value (MEV) and the need to strike a balance between minimizing it and managing it effectively.
Buterin’s response came in light of a recent warning from Peter Szilagyi, a longtime Geth core developer, who urged the community to reflect on whether they were working towards the right goals.
“These concerns are valid and have been echoed by many members of the Ethereum community, including myself. However, I do not believe the situation is as dire as Peter’s tweets suggest. Many of these concerns are already being addressed through protocol features that are already in progress, and others can be resolved through realistic adjustments to our current roadmap.”
In a new proposal, Buterin introduced EIP-7706, which focuses on a new gas model for Ethereum. This model specifically targets transaction call data. Currently, there are two types of gas fees for ETH transactions: one for transaction execution and another for storage. Buterin’s proposal suggests adding a third form of gas exclusively for call data, which would result in allocating charges for the data transferred during transactions.
Disclaimer: The views and opinions expressed in this article are solely for informational purposes and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: Vitalik Buterin’s proposal aims to review the Ethereum gas model; Read more about it in our article “Understanding Ark 21Shares Revamps Non-Staking Ethereum ETF Proposal in Attempt for SEC Approval.”