Vitalik Buterin, the co-founder of Ethereum, recently shared his vision of further decentralizing and making the Ethereum network permissionless. Speaking at an Ethereum developer interop in Kenya, Buterin highlighted the continuous technical advances and community challenges faced by the platform, with a particular focus on improving user and node operator experiences.
During the event, several important advancements were discussed, including PeerDAS, the Verkle tree transition, and decentralized history storage via EIP 4444. These developments have the potential to enhance the network’s capacity and energy usage, and Buterin emphasized the rapid progress being made by Ethereum and its community in delivering significant improvements on both Layer 1 (L1) and Layer 2 (L2).
One key area of discussion was Miner Extractable Value (MEV), which has posed challenges for block builders. In the past, miners relied on a straightforward method to create blocks, but the introduction of MEV has added complexity by allowing certain activities in DeFi protocols to be exploited. To address this issue, Buterin highlighted the implementation of two new policies: MEV quarantining and MEV reduction. MEV quarantining aims to maintain decentralization and fairness by dividing responsibilities between validators and builders, while MEV reduction focuses on limiting the information accessible to block producers.
In addition, Buterin emphasized the importance of research into the Ethereum staking ecosystem. Currently, the majority of staking for Ethereum is conducted by centralized providers and decentralized autonomous organizations (DAOs) such as RocketPool and Lido. However, Buterin highlighted the challenges of the 32 ETH requirement and technical issues as barriers to the growth of solo staking.
In other crypto news, Turkey’s governing party has proposed a crypto regulation bill to parliament, signaling the country’s increasing focus on regulating the cryptocurrency industry.
