Ethereum co-founder Vitalik Buterin recently talked about the Ethereum roadmap for 2024. He noted that single slot finality is a straightforward forward method to tackle issues in the Ethereum PoS model.
He further stated that for 2024 there are only minor edits to take place in comparison to last year. In a recent social media post he listed 6 points dealing with the roadmap for 2024. He shared the plan in the form of graphical representation and diagrams.
Six Stages of Roadmap
According to him, there are 6 stages of the roadmap namely Merge, Surge, Scourge, Verge, Purge, and Splurge. He further explained that the technical development of the Ethereum blockchain has become more precise and requires minor adjustments for 2024.
Merge is the first stage of the plan. It deals with maintaining a simple and resilient proof-of-stake (PoS) mechanism. Merge integrated Ethereum main net with PoS network with Beacon Chain in 2022. Next, the network transitioned from PoW to power conservative PoS mechanism.
Single Slot Finality (SSF) on Ethereum to Take Center Stage in 2024
As per the Ethereum developer, single-slot-finality (SSF) denotes that blocks added to a distributed ledger are immutable without burning 33% of staked ETH. He explained that SSF following Merge PoS improvement is a key stage. It has led to resolving lots of existing PoS mechanism’s weaknesses.
Recently, he talked about revising cypherpunk upgrade for blockchains. Cypherpucnk stands for a person who uses encryption to ensure their privacy when accessing computer networks such as government officials.
In a new blog post, Buterin noted that Ethereum was created as a public and decentralized storage server. In this manner, it allowed users to make use of peer-to-peer messaging and decentralized storage system. However, the original blueprint transitioned in 2017 to financialization.
He noted that rollups, abstraction, second-gen privacy, and Zk-proofs have gained more traction. At the same time, he noted that these technologies are also in line with cypherpunk tenets. Meanwhile, the developer also cited support for ENS token related to Ethereum Name Service.
ENS Token Gains 70% in Value Following Endorsement
Ethereum Name Service protocol’s native token ENS recently gained 72% traction on 3rd January following an endorsement from Buterin. He posted an update on social media platforms marking ENS are super important and noting that it should remain accessible and affordable for all users on Ethereum and Layer-2 protocols.
He claimed that L2s should work on CCIP solvers to enable direct ENS subdomain registration, updating and readability. He further stated that L2s such as Polygon, Arbitrum, and Optimism should be part of the long-term scalability of the Ethereum network and have ENS address registration for ease of use.
Following the social media mention, ENS token price gained 72% reaching 8-month high of $14.7 per CoinMarketCap. The ATH of ENS was recorded on 28th November 2021 at $74.25. ENS is a service that allows investors to purchase .eth domain name. This domain name can be used as a short form of numbers and letters in a digital wallet address.
In this manner, users can make instant transfers or receive funds. Buterin called for imposing 3% on ENS domain names calling it Harberger proposal. He noted that this will act as a preventive measure for early users hoarding domain names with the aim of earning profits later. In this manner, the tax will bring more decentralization of ENS addresses and increase traction.