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Ethereum founder Vitalik Buterin has doubled down on his call to make it simpler, more secure.
Wednesday, March 18, he he repeated that, through the ‘thin Ethereum’ system, the chain will no longer be forced to trade between security and speed like other blockchains.
Most ‘semi-centralized fast chains’ choose (ii) only, PoW chains choose (i) only, Ethereum gets both.
The ‘Lean Ethereum’ roadmap is a long-term strategy to simplify the network’s design, accelerate the stability of the process, and make it easier to run on simple devices such as smartphones.
Ultimately, Buterin wants phones to become the new nodes in the Internet.
This means the integration of technology, separate transport and beacon clients that strengthen the Ethereum network into a unified system. When the critics were displayed skeptical about the vision and its security risks, Buterin believes otherwise.
For him, it’s the only way to have a ‘fast’ chain like Solana and keep it as secure as Bitcoin.
But the system goes through a simple process and a high level of security.
Ethereum’s new ‘Constitution’
Last week, the Ethereum Foundation uncovered a document he called ‘part manifesto, part constitution’ to guide his long-term vision.
At the center of this road is a new philosophy called CROPS (anti-censorship, open source, private, and secure) that will underpin all future plans and network upgrades.
The ultimate goal is to ensure that Ethereum maintains user rights and can survive even after the Ethereum Foundation ceases to exist.
Like everything else, these changes have been met with mixed reactions. Supporters see it as a way to promote Ethereum as a leader in the legal community and a good network for ETH. For critics, however, the potential risks to security and unregulated streets make it difficult to bet on ETH.
Only time will tell which side was right.
What is the future of ETH?
Meanwhile, Bitwise analyst Max Shannon found that the rise of Bitcoin drives the price of ETH moves more than the big things, which the financial industry needs, or the movement of the Spot ETH ETF.
In fact, the recent 5% BTC price drop was due to the removal of risk ahead of the Fed’s decision. The price of ETH down too.
With most coins sitting below the price point, a long squeeze could pull ETH to $2213 or $2154, with a large pool at $2053. At the time of writing, the altcoin fell by 6% from about $2.4k to $2.2k.
Brief Summary
- Buterin now believes that simple, thin Ethereum can help it reach Solana’s speed while offering Bitcoin-like security.
- After a recent recovery around $2400, ETH retraced some of its gains as traders stopped risking ahead of the Fed’s decision.
