The second-largest blockchain by market capitalization continues to evolve with a clear and ambitious Ethereum roadmap for 2024. This article provides an in-depth look at the ETH roadmap 2024, breaking down each phase and its significance for the Ethereum’s future, ensuring that Ethereum wallet users and the broader crypto community can easily understand these developments.
The Ethereum Roadmap 2024
The Ethereum roadmap 2024 is a pivotal element of the Ethereum future. This detailed plan showcases the network’s commitment to continuous improvement and innovation. Each ETH roadmap phase not only addresses immediate needs but also lays a strong foundation for long-term growth and sustainability.
Stay Ahead with an ETH Wallet on Guarda
To stay ahead with the latest achievements of the Ethereum network, it’s essential to have a reliable Ethereum wallet. Guarda Wallet (https://guarda.com) offers a secure, user-friendly ETH wallet that supports all the latest Ethereum updates and features. By using Guarda, you can easily manage your assets, participate in staking, and take advantage of the new protocol improvements. Whether you’re a developer, investor, or casual user, having an ETH wallet on Guarda ensures you are always up-to-date with the ETH roadmap and the future of Ethereum. Quick guide how to start:
- Download Guarda Wallet: Visit the Guarda Wallet website or find it on your app store (desktop, mobile, web).
- Install and Create Wallet: Install the app and select Create a New Wallet. Set a strong password and securely store your backup file or recovery phrase.
- Add Ethereum (ETH): Navigate to Add Wallet and select Ethereum (ETH).
The Merge
This step of Ethereum Update is to establish an ideal, simple, robust, and decentralized proof-of-stake (PoS) consensus.
Achievements:
- Beacon Chain Launch: The foundational layer for Ethereum’s PoS system, which replaced the energy-intensive Proof-of-Work (PoW) system.
- The Merge: Transition from PoW to PoS, combining the Beacon Chain with the Ethereum mainnet, reducing energy consumption.
- Distributed Validators: Introduction of validators who are responsible for securing the network and confirming transactions, crucial for the ETH roadmap.
Future:
- Removal of PoW Code: Elimination of the old PoW components to streamline the network.
- Validator Updates: Enhancements to make the validators more resilient and efficient.
The Surge
This Ethereum roadmap step aims to achieve 100,000 transactions per second through rollups, crucial for Ethereum update steps.
Achievements:
- EIP-4844 Specification and Implementation: Setting the stage for proto-danksharding, a new type of transaction for large binary data (BLOB), helping to scale the network.
- Basic Rollup Scaling: Initial steps toward scaling using rollups, which bundle many transactions into a single one to increase efficiency.
Future:
- Full Rollup Scaling: Achieving full scalability of rollups to handle many more transactions, a key milestone in the Ethereum roadmap.
- No Warnings in Rollups: Ensuring that rollups operate seamlessly without errors.
- Improved Cross-Rollup Transaction Efficiency: Enhancing the ability for various rollups to work together smoothly, benefiting users of any Ethereum wallet.
The Scourge
The ETH roadmap goal that strives to mitigate centralization concerns in ETH PoS design, especially around MEV (Maximal Extractable Value) and liquid staking.
Achievements:
- Inclusion Lists and pBS Exploration: Initial measures to manage MEV, which involves capturing the maximum value from each transaction block.
- Staking Economics Improvements: Enhancing the ETH staking experience by making it more rewarding and user-friendly.
Future:
- Distributed Block Building: Decentralizing the process of block creation to avoid central points of failure.
- MEV Minimization: Reducing the impact of MEV on the network to ensure fairness.
- Exploration of New Solutions: Continued Ethereum update to keep the network decentralized and secure, essential for users of ETH wallets.
The Verge
The Verge is to simplify block verification to make it as straightforward as downloading and showcasing some basic computations, making it easier for users to verify transactions, a key element in Ethereum roadmap.
Achievements:
- Resolution of Most EVM Bottlenecks: Addressing critical issues within the Ethereum Virtual Machine (EVM), which executes smart contracts.
Future:
- SNARK-Based Verifiers: Implementing zk-SNARKs for enhanced verification, making the process more efficient.
- Code Chunking and SSZ Transition: Moving towards more efficient data structures and serialization methods, important for maintaining the efficiency of any Ethereum wallet.
The Purge
The next Ethereum update in the roadmap aims to streamline the protocol, clear technical debt, and lower participation costs, thereby simplifying node operation for users.
Achievements:
- EIP-4444 Implementation: Optimizing storage requirements for nodes by deleting old history automatically, reducing the data they need to store.
- Geth Client Cleanup: Removing outdated code and reducing complexity to make the network easier to maintain.
Future:
- SELFDESTRUCT Ban: Removing the SELFDESTRUCT opcode for safer contract interactions, integral to the Ethereum next upgrade.
- Historical Data Management: Using new mechanisms for more efficient data storage and retrieval, enhancing the performance of ETH wallets.
The Splurge
The Ethereum future step is to implement all other miscellaneous but necessary improvements to the network.
Achievements:
- EIP-1559 Implementation: Reforming the fee market for better predictability and fairness, making transaction fees more stable and predictable, a significant part of the Ethereum future.
Future:
- Further EVM Improvements: Ongoing enhancements to the EVM.
- Account Abstraction: Making accounts more flexible and versatile for various apps, showcasing the ETH future.
Key Enhancements
Precompilations
Precompilations are special contracts with predefined, complex functions that are computationally expensive to execute on the EVM. They improve the efficiency of specific operations:
- RIPEMD-160: A hash function for better Bitcoin network compatibility.
- Identity: Returns input data as output for basic validation.
- BLAKE2: A hash function for better Zcash network compatibility.
- MODEXP: Supports large number computations essential for RSA-based cryptography.
Data Storage Optimization
Ethereum aims to reduce the storage burden on nodes:
- SimpleSerialize (SSZ): Transitioning to a cleaner, more efficient data format to store blockchain data.
- EIP-4444: Automatically pruning old blockchain history to minimize storage requirements, making it easier for users to run nodes.
One-Peer Torrent Networks
To ensure the entire chain history is accessible without burdening individual nodes, Ethereum future plans to leverage peer-to-peer torrent networks for decentralized data storage and retrieval.
Ethereum Future
As we delve into the ETH future, it’s clear that the Ethereum roadmap is strategically designed to propel the network forward. The Ethereum future is bright with potential. The ETH next upgrade within this roadmap plays a vital role in the Ethereum update process. By focusing on specific enhancements like precompilations, data storage optimization, and one-peer torrent networks, Ethereum ensures that each upgrade builds upon the last, leading to a more robust network.
Conclusion
Ethereum’s 2024 roadmap highlights a strategic approach to scaling, simplifying, and securing the network. These updates solidify its position as a leading platform for dApps and smart contracts. For those using an Ethereum wallet, staying informed about these developments is crucial to maximize the benefits of these enhancements.
Stay tuned to Guarda Wallet Academy for more updates on the Ethereum next upgrade, and other blockchain advancements.
