At a recent event in Turkey, Ethereum’s cofounder Vitalik Buterin announced his plan to improve Ethereum staking and address performance issues in the network. If implemented, these changes could have a significant impact on users and developers, he added in his speech at Devconnect in Turkey.
Buterin said that his vision for Ethereum includes the integration of private mempools and ERC-4337. Private mempools would protect users’ privacy and security by allowing them to conduct transactions without revealing their intentions to the public mempool, where miners could potentially exploit them.
ERC-4337 refers to account abstraction, which would give users more control over their accounts and make features like multisig wallets easier to use and more secure.
Another feature Buterin is considering is code precompilation, which could speed up and reduce the cost of smart contract deployment by preprocessing certain elements of the code. Code precompilation has the potential to make the Ethereum network more efficient and scalable. It can also reduce the number of mistakes made by developers and improve the reliability of smart contracts.
Buterin has also proposed improvements to liquid staking, a process that allows users to earn rewards while keeping their assets liquid. However, he has expressed concerns about centralization in current solutions, such as Lido Finance.
To solve this, Buterin suggests improving the decentralization of liquid staking, giving more users access to the rewards of staking without sacrificing liquidity.
Buterin’s proposed redesign could have a significant impact on the Ethereum ecosystem, potentially leading to greater scalability, security, and efficiency.
This could lead to lower transaction fees, faster transaction speeds, and more reliable network performance, making it easier and cheaper for users and developers to participate in the ecosystem.
The improved usability and lower barriers to entry could attract new users and developers, boosting adoption and potentially driving up the price of Ethereum and other assets within the ecosystem.
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