Polymarket, a cryptocurrency-based prediction market platform, has successfully raised $45 million in a Series B funding round amid a surge in popularity leading up to the U.S. presidential election. The round was led by Peter Thiels Founders Fund, with notable contributions from Ethereums creator Vitalik Buterin, 1confirmation, ParaFi, and Dragonfly Capital, according to Polymarket founder Shayne Coplan, who communicated with CoinDesk via Telegram. The companys valuation in this round was not disclosed.

This latest investment follows a previously undisclosed $25 million Series A funding round led by General Catalyst and includes a $4 million seed round from 2020, bringing Polymarkets total raised funds to over $70 million. To support its next growth phase, Polymarket has appointed Richard Jaycobs as the head of market expansion, who previously held executive roles at traditional finance firms, including President of Cantor Exchange and CEO of The Clearing Corporation.

Polymarket is recognized as a leading platform for building prediction markets on cryptocurrency infrastructure. In these markets, participants place bets on the outcomes of real-world events within a specified timeframe, ranging from sports games to political events. For instance, a current market on Polymarket is gauging whether the U.S. Securities and Exchange Commission will approve a spot exchange-traded fund for Ethereum by May 31, with Yes shares trading at 16 cents, suggesting a 16% probability of approval.

These markets are touted not just as gambling venues but as tools for gaining a more accurate understanding of public sentiment and providing more reliable forecasts than traditional polls and punditry, a standpoint long advocated by economist Robin Hanson.

Despite a regulatory setback in 2022 that barred Polymarket from serving U.S. residents under a Commodity Futures Trading Commission settlement, the platform continues to see significant betting activity. This year alone, $202 million has been wagered on various events, with over $125 million staked on the presidential election. This exclusion from the U.S. market contrasts with Kalshi, the only CFTC-regulated prediction market, which faces potential regulatory challenges from the CFTCs recent proposals to ban election-related bets, a rule that would not affect Polymarket.

Featured Image: Wikipedia

Please See Disclaimer

Read more:

Polymarket Raises $45M in Series B Led by Peter Thiel and Vitalik Buterin - CryptoCurrencyNews

Ethereum (ETH) is indicating signs of a bearish move on Tuesday as it is largely trading horizontally. Its co-founder Vitalik Buterin has also proposed a new type of gas fee structure, while the chances of the Securities & Exchange Commission (SEC) approving a spot ETH ETF decrease with every passing day.

Read more: Ethereum trades horizontally as institutional whales dump heavily on Coinbase

Ethereum could be poised for new upgrades following recent proposals. Here are market movers for the largest altcoin:

The proposal aims to reduce gas fees for data-heavy transactions that don't require much resources for computation through the introduction of a new type of gas uniquely assigned to calldata. The current gas structure of Ethereum involves only two types of gas, namely execution gas, which covers fees for the computational resources to process transactions, and storage gas, which covers the cost of storing data specifically in "blobs.

EIP-7706 introduces the third category related to calldata - a key part of Ethereum transaction that's transmitted to a smart contract "when functions are invoked." Buterin also recommended in the proposal that Ethereum switch from using separate mechanisms and leverage a common approach for the different gas fees. EIP-7706 could lower gas fees for certain transactions while improving the user experience if the Ethereum community approves it.

The proposal follows an earlier essay on multidimensional gas pricing and the EIP-7702 proposal on account abstraction co-authored by Vitalik Buterin.

Also read: Ethereum declines briefly, JP Morgan sees a spot ETH ETF approval despite recent Wells notice

Ethereum is trading around the $2,900 price level on Tuesday after failing to balance a previous price inefficiency from Friday. In the short term, most traders are slightly bearish as long liquidations hit $24.22 million in the past 24 hours, according to data from Coinglass. ETH's open interest declined by 1.8%, confirming the short-term bearish sentiment. This may be because of heightened expectations of a spot ETH ETF denial by the SEC.

Read more: Ethereum needs a bullish trigger, Joseph Lubin blasts the SEC

However, ETH may quickly bounce back up or at least sustain a sideways movement as the $2,852 price level has proven to be a key support for ETH it has only gone below it once in nearly three months. The next leg up may see ETH attempt to break past the $3,161 resistance.

ETH/USDT 4-hour chart

ETH may not see huge price gains in the coming days, considering investors are exercising caution as the SEC's decision on ETH ETFs looms.

Additionally, the current price level could also prove a good buy opportunity for long-term holders in anticipation of ETH's next price rally.

Loading ...

Go here to see the original:

Ethereum bears attempt to take lead following increased odds for a spot ETH ETF denial - FXStreet

Ethereum co-creator Vitalik Buterin proposed a joint idea to improve account abstraction for standard on-chain addresses.

Dubbed Ethereum Improvement Proposal (EIP) 7702, the concept would introduce a new transaction method that allows externally owned accounts (EOAs), otherwise known as the defacto Ethereum (ETH) account, to execute smart contract wallet functions.

After transactions are completed, EOAs would revert to the default state. Buterin co-authored EIP-7702 with Ansgar Dietrich, Matt Garnett, and Sam Wilson to offer better synergy with smart contract capabilities enshrined in EIP-4337.

According to Uniswap Founder Hayden Adams, EIP-7702 also brings quantum resistance as a substitute for EIP-3074, which developers mulled shipping with the next blockchain upgrade after Dencun called Petra.

Vitalik just proposed EIP-7702.

It's one of the most impactful changes Ethereum is going to have EVER.

So, here's everything you need to know about how it works and how we got here:

Buterin and other developers proposed account abstraction in 2020 and 2021 as a framework to enable advanced features like wallet recovery and multi-factor authentication for regular ETH addresses.

Account abstraction was deployed on the ETH mainnet in March last year, providing greater flexibility for users looking to swap any token and leverage better on-chain operability.

Buterin has frequently noted that account abstraction will play a major role in the future of blockchain transactions, complementing the quintessential cypherpunk approach and bolstering solutions like zero-knowledge proofs.

More:

Vitalik Buterin pitches upgrade to Ethereum account abstraction - crypto.news

Arman Shirinyan

Cryptocurrency network of future may get brand new system of gas management

Thanks to insights from Vitalik Buterin and contributions from experts like Ansgar Dietrichs, Barnabe Monnot and Davide Crapis, we are getting familiar with the concept of "multidimensional gas." Traditionally, Ethereum has used a unit called "gas" to measure and price the computational efforts required for transactions and operations. This includes calculations like adding and multiplying, managing data storage, bandwidth and even complex processes like generating cryptographic proofs.

The recent proposal involves transitioning from a single-dimensional gas model to a multi-dimensional one, addressing the inefficiencies of treating different types of computational resources as equivalents. The current system, while simple, does not accurately reflect the varying demands different operations place on the network, which can lead to either over or under-utilization of resources.

Buterin uses a straightforward diagram to explain that while the gas limit might suggest a block can safely handle a certain amount of computation and data, the reality of what is safe can be quite different. This misalignment could potentially allow for blocks that are either too safe and under-utilized or too risky and overloaded.

With the introduction of multi-dimensional gas on Ethereum via EIP-4844, the network can now process different types of demands more efficiently. This change has already started to show benefits. Blobs, for example, will allow these rollups to operate much more cheaply, increasing transaction volume threefold without significantly raising block size, thus maintaining network safety.

The update also anticipates future enhancements, such as better support for "stateless clients" a new type of Ethereum client that does not need to store a complete copy of the blockchain. These clients rely heavily on proof systems, and the current shift toward multidimensional gas could facilitate a smoother implementation of these systems by allowing the network to handle proofs more efficiently without compromising on security or inflating costs for users.

This multi-dimensional approach allows Ethereum to fine-tune how it manages different resources, potentially increasing throughput without risking safety. It marks a sophisticated step forward in blockchain technology, promising to make Ethereum more scalable, efficient and ready for future demands.

About the author

Arman Shirinyan

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

View post:

Vitalik Buterin Solves Ethereum's Gas Fee Problem - U.Today

TLDR:

Render (RNDR) has been leading the crypto market in gains, helped by the recent mention of its Octane software by Apple. NuggetRush is becoming one of the top crypto coins of savvy investors, thanks to its revolutionary new gaming model. Meanwhile, Vitalik Buterin has launched a new proposal to improve the UX of wallets and reduce potential downsides.

>> Buy NuggetRush Now <<

In the recent keynote presentation showing off its M4 chip for the latest iPads, Apple mentioned Octane, a 3D design software powered by the Render Network. While the mention of Octane lasted only three seconds, it was enough to provide bullish momentum for Render.

Over the last week, the altcoin price has surged by more than 48%, outperforming other top altcoins. In May, the price of RNDR increased from a low of $7.00 to a new high above $11.40. If the RNDR maintains its bullish momentum, the ERC20 coins could attempt to set a new all-time high above $13.60 this month.

Like Render, unique projects have been the attraction of the crypto community over the last few months. NuggetRush (NUGX) is one of the new DeFi projects that has seen large investor interest over the last few weeks, as the project raised over $3.8 million during its blockchain ICO.

Despite NuggetRush being a GameFi project, it transcends traditional P2E gaming by incorporating artisanal mining, entertainment, real-world utility, and meme culture. Apart from all this, NuggetRushs focus is on enriching its users, making it one of the best gaming tokens to buy.

NuggetRush seeks to create a community of gamers who respect each other and work as a team for a common goal. In the crypto mining game NuggetRush, players can pool their efforts and have a high chance of winning free NUGX tokens, popular NFTs, rare gems, and even real gold.

In addition, the team behind the project actively seeks the feedback and input of its community to develop a better ecosystem. The native token of the platform, NUGX, has also enjoyed significant success, rising by more than 40% of its original price. While NUGX is currently trading in the $0.0342 range, analysts are optimistic it can trade above $1.00 before the end of the year.

>> Buy NuggetRush Now <<

The co-founder of Ethereum, Vitalik Buterin, has launched a new proposal aimed at improving the UX performance of ETH wallets. Dubbed EIP-7702, the proposal aims at making traditional wallet users enjoy the same benefits as smart wallets.

Several other improvements to launch with EIP-7702 include batch transactions, wallet recovery via social tools, and sponsor transactions of one wallet. If the proposal passes, these features could be integrated into the next major Ethereum upgrade, Pectra.

The Buterin proposal seeks to give traditional Ethereum wallet users the benefits of smart contract wallets without compromising the networks account abstraction. If passed, this could significantly improve the performance of the network.

Meanwhile, NuggetRush and Render have caught the attention of investors because of their respective novel platforms. Thus, RNDR and NUGX are two of the best cryptos to invest in now, as their growing adoption could cause major price increases for these coins.

Visit the NuggetRush Website

Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice.

Here is the original post:

Apple Mentions Render's Octane, Ethereum EIP-7702 To Improve Wallet, Investors Turn To NuggetRush - Times Tabloid

The insights and predictions of prominent crypto experts hold considerable sway in the crypto space. These individuals, ranging from industry veterans to visionary leaders, play a pivotal role in shaping the trajectory of the crypto market. Among these luminaries stands Vitalik Buterin, a towering figure renowned for his contributions to blockchain technology and the co-founding of Ethereum, one of the most influential platforms in the crypto space. Buterins visionary outlook and technical expertise have made him a trusted authority within the cryptocurrency community, with his insights often sought after by traders, investors, and developers alike.

Vitalik Buterin, a Russian-Canadian programmer and writer, rose to prominence as the co-founder of Ethereum, a decentralized blockchain platform that has revolutionized the crypto landscape. Beyond his role in Ethereum, Buterin is recognized for his advocacy of blockchains transformative potential across diverse industries. His pioneering work in smart contracts and decentralized finance (DeFi) has propelled the adoption of blockchain technology, inspiring countless innovations in the crypto space. Buterins influence extends far beyond his technical expertise; his thought leadership and visionary outlook continue to shape the future of cryptocurrencies and blockchain applications worldwide.

Against this backdrop of expertise and innovation, Vitalik Buterin has turned his attention to Retik Finance (RETIK), a groundbreaking platform poised to disrupt the traditional financial landscape. At its core, Retik Finance (RETIK) seeks to bridge the gap between cryptocurrencies and conventional fiat applications, offering a fully decentralized finance ecosystem powered by smart contracts. Through its innovative solutions such as the Retik Wallet, DeFi Debit Cards, and Retik Pay, the platform empowers users to transact, earn, and spend cryptocurrencies seamlessly, ushering in a new era of financial autonomy and accessibility.

At the heart of Retik Finances transformative vision lies a suite of innovative features designed to revolutionize the way individuals interact with digital assets. One such feature is the Retik Wallet, a comprehensive solution that consolidates all decentralized exchanges (DEXs) into a single application, granting users access to diverse liquidity sources. With the Retik Wallet, users can efficiently execute various traditional DeFi activities such as swapping, farming, mining, staking, lending, borrowing, and shorting, all within a seamless and intuitive interface.

In addition to the Retik Wallet, Retik Finance (RETIK) introduces a revolutionary solution that seamlessly merges the benefits of traditional debit cards with the power of decentralized finance the Retik DeFi Debit Cards. These cards empower users to spend their cryptocurrency holdings in real-world transactions, offering a tangible bridge between the digital and physical realms of finance. Much like traditional debit cards, Retik DeFi Debit Cards grant access to retail and online shopping, as well as cash withdrawals from ATMs, but with the added convenience and security of blockchain technology.

In a bold and visionary forecast, Vitalik Buterin predicts a staggering 2000% Retik Finance (RETIK) price gain within the first 48 hours of trading following its May 21 exchange listings. This projection underscores Retik Finances (RETIK) immense potential to disrupt the crypto market and redefine the future of decentralized finance. With its comprehensive ecosystem and visionary leadership, Retik Finance (RETIK) is poised to emerge as a game-changer in the crypto space, offering investors and users alike a gateway to a more inclusive and transparent financial future.

As Vitalik Buterins endorsement indicates, Retik Finance (RETIK) presents a compelling investment opportunity for those looking to capitalize on the transformative power of decentralized finance. Retik Finance (RETIK) is positioned to soar to new heights in the crypto market with its ambitious vision, robust infrastructure, and strong community support. For investors seeking exponential returns and meaningful impact, Retik Finance (RETIK) represents not only a financial opportunity but also a catalyst for driving positive change in the global financial landscape.

In the dynamic world of cryptocurrencies, the insights of prominent crypto experts like Vitalik Buterin carry significant weight, shaping market sentiment and guiding investment decisions. As Buterins bold prediction suggests, Retik Finance (RETIK) stands poised for a meteoric rise in the wake of its May 21 exchange listings, offering investors an unprecedented opportunity to participate in the future of decentralized finance. With its innovative solutions and visionary leadership, Retik Finance (RETIK) represents a sound investment and a beacon of hope for a more inclusive and transparent financial ecosystem.

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: http://www.twitter.com/retikfinance

Telegram: http://www.t.me/retikfinance

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Here is the original post:

Prominent Crypto Says Retik Finance (RETIK) Will See 2000% Price Gain in First 48 Hours of Trading Following - Bitcoinist

Ethereum (ETH) price action on Wednesday shows it could be gathering momentum for a rally as a recent report from CryptoQuant reveals its ultrasound money narrative is at risk. Also, the number one altcoin's co-founder, Vitalik Buterin, and co-authors have published Ethereum Improvement Proposal (EIP) 7702 as an alternative to EIP-3074.

Read more: Ethereum resume sideways move as Grayscale files to withdraw Ethereum futures ETF application with the SEC

Ethereum is set to see interesting updates on its blockchain following recent developments. Here are key market movers for the top altcoin:

A recent report by CryptoQuant highlights that Ethereum is becoming inflationary following the Dencun upgrade in March. After the Merge that saw Ethereum transitioning from a Proof-of-Work (PoW) to a Proof-of-Stake consensus mechanism, the network began burning gas fees at a significant rate that saw a significant reduction in the growth of ETH's circulating supply.

However, since the Dencun upgrade, when the introduction of "blobs" reduced Ethereum's network activity to boost its scalability and reduce user fees, the amount of gas fees burned has reduced significantly.

"Before the Dencun upgrade, the higher network activity on Ethereum meant higher fees burned and hence less ether supply. However, after the Dencun upgrade, the total amount of fees burned has decoupled from the network activity," noted CryptoQuant. As a result, this puts ETH's 'ultrasound' money narrative at risk since its circulating supply would begin increasing over time.

"We conclude that, at the current rate of network activity, Ethereum will not be deflationary again, and the narrative of 'ultrasound' money has probably died or would need much higher network activity to come back to life," said CryptoQuant.

Furthermore, following several concerns raised about EIP-3074, which was considered for inclusion in the upcoming Pectra upgrade, Ethereum co-founder Vitalik Buterin and co-authors Sam Wilson, Ansgar Dietrichs and Matt Garnett proposed EIP-7702 as an alternative.

EIP-7702 introduces a new transaction type that would allow externally owned accounts (EOAs) to temporarily act as smart contracts during a transaction. Like EIP-3074, the new proposal would enable better ways to abstract gas fees, batch transactions, and improve the user experience. However, it goes further by improving compatibility with the ERC-4337 standard for smart contract wallets an issue with EIP-3074 and being more future-proof.

Some crypto community members have speculated that EIP-7702 would replace EIP-3074 in the upcoming Ethereum Pectra upgrade. One X user commented, "I think it would probably make more sense to include in Pectra than 3074."

Fireblocks' VP of Technology Arik Galansky also commented on the proposal saying, "It's a long while since Ethereum introduced changes that are user-oriented rather than scaling-oriented and this one is right on point."

Also read: Ethereum traders show uncertainty, SEC delays decision on Invesco's ETH ETF application

Meanwhile, the Ethereum Foundation appeared to be dumping ETH again on Wednesday following a transfer of 1,000 ETH worth $3 million to middle multisig address 0xbc9, according to data from Spot On Chain.

This transfer is the latest action in a larger trend where the Ethereum Foundation has sold 1,766 ETH for 4.81 million DAI stablecoin at ~$2,725 since the beginning of 2024. The ETH sales, done in small batches through the same middle multisig address 0xbc9, often coincide with brief Ethereum price declines, noted Spot On Chain.

The market remained quiet on Wednesday as Ethereum continued trading around the $3,000 mark. Despite the calm market, ETH derivatives volume in May has risen higher close to 60% than that of Bitcoin, according to QCP.

Read more: Ethereum could see a brief rally despite Michael Saylor's jab at ETH ETFs

The reason for the increase may be the market pricing in volatility over the Securities & Exchange Commission's (SEC) upcoming decision on Van Ecks' spot ETH ETF application on May 23, noted QCP. This also explains why the market is slightly tilted toward a downward movement as many expect the SEC to deny spot ETH ETF applications.

While current price action indicates ETH may continue a horizontal movement in upcoming weeks, historical data suggests the largest altcoin could be gathering momentum for a bullish run. Considering ETH has remained in the $2,852 to $3,300 range for nearly a month, it could attempt a sustained breakout above the upper level of the range if it sees a slight bullish trigger.

ETH/USDT 4-hour chart

Onchain data also shows most whales have been accumulating ETH around this range in anticipation of a price rally. A bearish event could see it break below the lower level of the range briefly, presenting a buying opportunity.

Ethereum is trading at $3,013 on Wednesday, May 8, down 0.7% on the day.

Ethereum is a decentralized open-source blockchain with smart contracts functionality. Serving as the basal network for the Ether (ETH) cryptocurrency, it is the second largest crypto and largest altcoin by market capitalization. The Ethereum network is tailored for scalability, programmability, security, and decentralization, attributes that make it popular among developers.

Ethereum uses decentralized blockchain technology, where developers can build and deploy applications that are independent of the central authority. To make this easier, the network has a programming language in place, which helps users create self-executing smart contracts. A smart contract is basically a code that can be verified and allows inter-user transactions.

Staking is a process where investors grow their portfolios by locking their assets for a specified duration instead of selling them. It is used by most blockchains, especially the ones that employ Proof-of-Stake (PoS) mechanism, with users earning rewards as an incentive for committing their tokens. For most long-term cryptocurrency holders, staking is a strategy to make passive income from your assets, putting them to work in exchange for reward generation.

Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) mechanism in an event christened The Merge. The transformation came as the network wanted to achieve more security, cut down on energy consumption by 99.95%, and execute new scaling solutions with a possible threshold of 100,000 transactions per second. With PoS, there are less entry barriers for miners considering the reduced energy demands.

Loading ...

See the rest here:

Ethereum could experience bullish run, ETH ultrasound money narrative at risk - FXStreet

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news editorial.

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.

Every week, crypto.news brings you #hashtag hearsay, a gossip column of scoops and stories shaping the crypto world. If you have a tip, email Dorian Batycka at [emailprotected]

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.

Read the original:

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

Our website is a comprehensive guide to digital currency investing & trading.Here are a few suggestions to get started, and get the most from us:

Begin with Bitcoin for Beginners.

Get the edge with our exclusive Bitcoin and cryptoguides.

Check out our Crypto YouTube channel, that includes beginners and advanced tutorial videos and market updates. Dont forget to subscribe!

Read the original post:

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

Vitalik Buterin proposes a hard fork strategy for Ethereum to protect funds against quantum computer attacks, sparking a community-wide discussion on quantum security.

Ethereum co-founder Vitalik Buterin has proposed a hard fork strategy. This preemptive measure is designed to protect user funds in the event that quantum computers become capable of breaking current cryptographic defenses.

The proposal, outlined in a discussion on the Ethereum Research forum, highlights the urgency of preparing for quantum computers' ability to solve problems like the discrete logarithm, which underpins the security of many current cryptographic algorithms including those used by Ethereum.

The proposed hard fork would entail the following steps:

The conversation in the Ethereum community is informed by a range of expert inputs. One participant shared a visual aid to help understand the proof statement, while others discussed existing quantum-secure fallbacks for wallets and the integration of preimages into ECDSA signature nonces to create fail-stop signature schemes.

Some community members have cautioned that if quantum computers capable of cracking Ethereum wallets are already in malicious hands, it might be too late to differentiate between legitimate owners and attackers. They suggest that instead of relying on stateful post-quantum algorithms, Ethereum should use NIST standardized ones in hybrid mode with a classical algorithm, like combining Dilithium with ed25519. This would, however, increase block sizes due to the large signature and public key sizes of current post-quantum schemes.

Others have proposed the development of machine learning systems to monitor and detect abnormal transactions as an early warning system to trigger a fail-safe fork.

The community's response underlines the importance of staying ahead in the security arms race against quantum computing. Innovations such as Lamport signatures and ERC 4337-based quantum-resistant smart contract wallets are already in development, as is the integration of quantum-safe cryptographic measures in other digital signature applications.

This initiative by the Ethereum community reflects the broader blockchain ecosystem's commitment to resilience and adaptability in the face of emerging technological threats. As quantum computing advances, the blockchain sector's proactive stance on security promises to be a critical factor in its long-term viability and trustworthiness.

The Ethereum team and community's proactive approach to quantum security demonstrates a clear recognition of the challenges ahead and a willingness to address them head-on. This ongoing conversation will likely shape the future of Ethereum's infrastructure and set a precedent for other blockchain platforms.

Read the original here:

Vitalik Buterin Proposes a Quantum-Resistant Hard Fork for Ethereum - Blockchain.News