https://dailyhodl.com/2024/10/16/vitalik-buterin-says-reducing-validator-stake-from-32-to-1-eth-a-possible-future-for-ethereum/https://www.ccn.com/news/crypto/vitalik-buterin-blueprint-ethereum-future/Welcome to the future. This changes the cost of ETH PoS steak network validation from $85,000 to roughly $2,622.85 USD at time of writing this.
“Poll after poll repeatedly shows that the main factor preventing more people from solo staking is the 32 ETH minimum. Reducing the minimum to 1 ETH would solve this issue to the point where other concerns become the dominant factor limiting solo staking,” Buterin wrote.
Among his suggested improvements, Buterin is advocating for a new approach to block finalization, known as single-slot finality.
This would replace the current process, which takes around 15 minutes to complete.The proposed single-slot finality would introduce an algorithm that finalizes blocks in a single slot, slashing the current finalization time from 15 minutes to just 12 seconds.
I have my criticisms about PoS mechanism and I have changed my tune ever since the merge didn't work out. I think this moves the network closer to where it should be. I think this will have to be done to implement ZKstarks and more future network upgrades. This has been in the works for a long time
https://www.reddit.com/r/ethereum/comments/s0j8jo/zk_technology_comparison_zksnarks_loopring_vs/First of all why do we focus on ZK Technologies?
Because Vitaliks said so:
In general, my own view is that in the short term, optimistic rollups are likely to win out for general-purpose EVM computation and ZK rollups are likely to win out for simple payments, exchange and other application-specific use cases, but in the medium to long term ZK rollups will win out in all use cases as ZK-SNARK technology improves.
ZK-SNARK
Stands for zero-knowledge succinct non-interactive argument of knowledge.
First paper in 2012.
ZK-SNARKs at their base depend upon elliptic curves for their security.
To maske the curved elliptical secure like a bitcoin (except the Chinese quantum computer already hacked SHA256
https://www.csoonline.com/article/3562701/chinese-researchers-break-rsa-encryption-with-a-quantum-computer.html ) it needs to be as decentralized as possible with the ETH virtual machine more powerful than a supercomputer but costs only 1v of electricity to run on any computer X10,000 to make the fastest network in human history
Originally posted by Ghost
just wait until Ethereum completes the dimensional merge than you wont even need to "mine" a cryptocurrency by solving 10 trilliion meth problems on your CPU, instead the network is being upgraded to the future global internet hivemind so that it uses the power of the internet computer instead of physical electricity to generate the tokens
People say this will make it go up in price exponentially, or this could all go to $0 folx there is no way to predict the future.
SOme say this upgrade will make Bitcoin Ticker: BTC become obsolete as the network infastructure depends on a real life energy grid from a bunch of Chinese Kahzakstan ripto miners on supercomputers controlling 99% of the network power compared to a merged steak system of decentralized sillycone valley smart contract web3 tek internet computer
https://vitalik.eth.limo/general/2024/10/14/futures1.htmlOriginally, "the Merge" referred to the most important event in the Ethereum protocol's history since its launch: the long-awaited and hard-earned transition from proof of work to proof of stake. Today, Ethereum has been a stably running proof of stake system for almost exactly two years, and this proof of stake has performed remarkably well in stability, performance and avoiding centralization risks. However, there still remain some important areas in which proof of stake needs to improve.
My roadmap diagram from 2023 separated this out into buckets: improving technical features such as stability, performance, and accessibility to smaller validators, and economic changes to address centralization risks. The former got to take over the heading for "the Merge", and the latter became part of "the Scourge".
What problem are we solving?
Today, which validator is going to propose the next block is known ahead of time. This creates a security vulnerability: an attacker can watch the network, identify which validators correspond to which IP addresses, and DoS attack each validator right when they are about to propose a block.
What is it and how does it work?
The best way to fix the DoS issue is to hide the information about which validator is going to produce the next block, at least until the moment when the block is actually produced. Note that this is easy if we remove the "single" requirement: one solution is to let anyone create the next block, but require the randao reveal to be less than 2256 / N. On average, only one validator would be able to meet this requirement - but sometimes there would be two or more and sometimes there would be zero. Combining the "secrecy" requirement with the "single" requirement" has long been the hard problem.
Single secret leader election protocols solve this by using some cryptographic techniques to create a "blinded" validator ID for each validator, and then giving many proposers the opportunity to shuffle-and-reblind the pool of blinded IDs (this is similar to how a mixnet works). During each slot, a random blinded ID is selected. Only the owner of that blinded ID is able to generate a valid proof to propose the block, but no one else knows which validator that blinded ID corresponds to.
What are some links to existing research?
Paper by Dan Boneh (2020):
https://eprint.iacr.org/2020/025.pdf Whisk (concrete proposal for Ethereum, 2022):
https://ethresear.ch/t/whisk-a-practical-shuffle-based-ssle-protocol-for-ethereum/11763 Single secret leader election tag on ethresear.ch:
https://ethresear.ch/tag/single-secret-leader-election Simplified SSLE using ring signatures:
https://ethresear.ch/t/simplified-ssle/12315
tl;dr ; ETH will baboona to $100000USD/ETH in 100 years (surpassing bitcoin)
