According to Cointelegraph: Ethereum co-founder Vitalik Buterin recently shared insights into Ethereum's long-term plans, highlighting the blockchain's objective to develop quantum-resistant cryptography as part of its roadmap. In an Oct. 29 blog post, Buterin discussed ‘The Splurge,’ a phase in Ethereum’s roadmap that addresses critical improvements, including strengthening Ethereum's resistance to potential quantum computing threats. Although functional quantum computers capable of breaking encryption do not yet exist, Buterin pointed out that research into quantum resistance is proactive, ensuring the blockchain's security for decades to come.
‘The Splurge’ and Ethereum’s Continuous Evolution
‘The Splurge’ is one of several major stages in Ethereum’s roadmap, alongside others like The Merge, The Surge, and The Purge, each addressing specific blockchain advancements. For The Splurge, the focus is on enhancing Ethereum's Virtual Machine (EVM) functionality, enabling a stable protocol foundation while introducing account abstraction and advanced cryptographic strategies.
Upcoming ‘Pectra’ Update and EVM Improvements
Ethereum's next upgrade, dubbed Pectra, is anticipated by the end of 2024 or early 2025. Pectra will introduce the EVM Object Format (EOF), a restructuring of EVM code to streamline code and data processing. This restructuring is expected to ease Layer 2 interactions, facilitating broader scalability improvements for Ethereum.
Pectra will also expand account abstraction, a feature that allows users to interact with Ethereum using wallet-like smart contracts. With proposals like EIP-7701, account abstraction will allow accounts to pay transaction fees in ERC-20 tokens beyond just Ether (ETH), enhancing user convenience and flexibility.
Enhancing Transaction Fee Economics with Multidimensional Gas
Buterin further discussed a proposal for multidimensional gas, aimed at creating separate gas prices for various blockchain resources, optimizing Ethereum's efficiency. This multidimensional approach could alleviate high gas fees in peak usage times, making resource allocation more flexible and affordable.
By integrating advanced cryptography, quantum resistance, and transaction fee optimization, Buterin envisions an Ethereum network that remains secure, scalable, and accessible in the face of technological advancements.
