Ethereum to reach new phase “The Scourge,” Will ETH price rise?
- According to the Ethereum CEO, there are five more milestones to complete the Ethereum roadmap.
- Buterin also revealed that the SNARK technology would be introduced as an upgrade to the Verge.
Ethereum CEO, Vitalik Buterin, has introduced an additional stage to the Ethereum technical schedule. The addition enhances the network’s decentralization and improves its censorship resistance. Buterin revealed the other stage (known as the Scourge) via a tweet over the weekend.
Adding the Scourge means Ethereum’s technical roadmap has now increased to six parts. Recall that Ethereum moved to the second stage of its technical roadmap following its switch to a proof-of-stake network two months ago. The surge introduced rollups to enable the network complete 100,000 transactions per second.
According to Buterin’s tweet, the Scourge will now be the next stage in the network’s technical roadmap. Then, the Verge, the purge, and the splurge will follow in that order.
Updated roadmap diagram! pic.twitter.com/MT9BKgYcJH
— vitalik.eth (@VitalikButerin) November 4, 2022
The Ethereum roadmap states that the Scourge aims to ensure that transaction inclusion is neutral and credible. Also, it will save the network from risks associated with miners’ extractable value (MEV) and prevent centralization. Buterin suggests a credible and neutral consensus layer based on past antecedents.
There have been several cases where miners have exploited the Ethereum network to suit them. But, according to the Ethereum co-founder, a credibly neutral mechanism doesn’t treat people differently for any reason.
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An MEV occurs when a miner front-runs other network participants to alter the order of transactions and their block placement. Hence, this miner can execute his transactions before other arbitrageurs and make multiple rounds of profits.
More updates about Ethereum’s technical roadmap
It is not surprising that many industry analysts have claimed that the Merge has increased the level of centralization and censorship on the Ethereum network. After Ethereum’s switch to a PoS network, 73 percent of its blocks became compliant with the US Office of Foreign Asset Control (OFAC) as of November 3.
Many industry analysts believe this figure was too high. Nevertheless, Anthony Sassano (a famous Ethereum bull) said that “currently, scaling is less important than censorship resistance.” Even though Ethereum is yet to reveal full details about the Scourge, Buterin proposes a “partial block solution.”
Here, a block builder can decide on the part of the block’s contents. There have also been other proposals to prevent censorship at the consensus level. The Ethereum co-founder also added that the SNARK technology would be added to the Ethereum network during the Verge upgrade.
Snark, an acronym for Succinct Non-interactive Argument of Knowledge, will add more privacy features to the Ethereum network without sacrificing the traceability of anonymous transactions. Buterin further remarked that the network would implement greater “quantum proofness” at each stage of the network’s technical roadmap.
He added that this implementation is crucial to completing the network’s roadmap. Meanwhile, ETH is down 7 percent over the past 24 hours and trades at $1,400, according to current data.