- Ethereum co-founder Vitalik Buterin published his notes on the next step in improving the Ether chain.
- The Purge involves simplification of the Ethereum blockchain and reduction in the load on nodes in the ETH network.
- ETH price declined nearly 3% on the day.
Ethereum co-founder Vitalik Buterin shared the next steps in improving the Ether blockchain. Buterin focuses on reducing the resource load on the blockchain and simplifying the Ethereum protocol.
ETH price lost 3% on Monday, trading at $3,556.
Ethereum prepares for the next stage of protocol improvement: The Purge
Vitalik Buterin shared the steps for improving the Ethereum blockchain, known as the Purge. After the Merge, this is the next milestone in Ethereum’s improvement and it is focused on the removal of history (excess network history) over a period of time.
Historical data storage increases the hard disk requirement for node operators. Reducing this history would reduce the technical debt of the Ethereum protocol.
The Purge from Ethereum’s roadmap.
The Merge laid the foundation for the Purge by executing the EIP-6780, an Ethereum Improvement Proposal that eliminated most of the Self Destruct functions. The Merge, therefore, reduced the burden of the Purge, and the protocol can now limit the costs of network participation, following the simplification track.
A historical block would mean a block older than a year, and nodes would have the option to choose not to store the historical data. Buterin believes this move will not affect the historical data and its storage since even if each node agrees to store only a small percentage of it, there may still be several copies of old transaction data across the network.
Buterin highlighted the need to remove precompile Ethereum contracts, used to implement cryptography that is not compatible with the Ethereum Virtual Machine (EVM). This is another task included in the Purge.
Ethereum price is down 3% on the day. The altcoin yielded nearly 3% gains for holders last week as anticipation surrounding Spot Ethereum ETF approval by the Securities and Exchange Commission (SEC) increased among traders.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ethereum Price Forecast: ETH plunges 6% following Fed rate decision, eyes a bounce at the $3,550 level
Ethereum is down 6% after the Federal Reserve hinted that it will reduce its rate cut frequency in 2025. The hawkish news has sent ETH's Weighted Sentiment to lows last seen in December 2023.
Crypto Today: Bitcoin holds $104K as XRP, AVAX and Solana traders take profits
The cryptocurrency sector valuation declined 4% on Wednesday, dropping toward $3.8 trillion. While Bitcoin price dipped 2% to consolidate around the $104,600 mark, top altcoins like XRP, AVAX and SOL suffered excess of 5% losses on the day.
Bitcoin, crypto market set for massive dump following Trump's inauguration: Arthur Hayes
Bitcoin and the crypto market could face a massive sell-off as expectations for Donald Trump's administration of pro-crypto policies could be short-lived, according to Arthur Hayes.
Shiba Inu Price Prediction: SHIB whale demand plunges as Solana memes dominate
Shiba Inu price opened trading at $0.000026 on Wednesday, its lowest opening price in 20 days dating back to November 29. On-chain data shows SHIB token struggling to attract whale demand as Solana memes dominate social channels.
Bitcoin: BTC reclaims $100K mark
Bitcoin briefly dipped below $94,000 earlier this week but recovered strongly, stabilizing around the $100,000 mark by Friday. Despite these mixed sentiments this week, institutional demand remained strong, adding $1.72 billion until Thursday.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.