Ethereum Co-founder Teases Plans to Revamp Ethereum Staking

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Speaking in an interview with Decentralized Finance (DeFi) and Non-fungible token (NFT) platform Defiant, Ethereum co-founder Vitalik Buterin revealed his plans to change the outlook of Ethereum staking. Notably, Buterin was asked a couple of questions including what the future roadmap for Ethereum is. In response, the ETH co-founder emphasized the need for a revamp. 

The Need to Change Ethereum Staking Centralization 

Buterin noted that one of the things that the firm discovered in 2023 is the need to develop a positive approach towards “staking centralization”. With this in mind, Ethereum is moving forward with the redesign of the staking overhaul. In the process, some changes will be made to staking pools as well as mining pools.

Previously, Buterin had talked about adding more features to the Ethereum staking protocol.

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The crypto leader is positive that this move will boost decentralization in the long run. However, there is a challenge with the speed of data availability. For context, Buterin explained that data availability is slower in the off-chain systems as the near-term and mid-term demands are high, and this poses a serious concern.

More Updates on Ethereum 

He went on to talk about the next Ethereum upgrade EIP 4844 a.k.a Danksharding. According to Buterin, the data map space for this upgrade will be improvised to 16 Megabytes per slot. Once this has been achieved, the protocol will only be left with the responsibility of setting the parameters and attributes. 

Ethereum plans to scrap the use of hard forks in the future but this would be after they have successfully come up with a voting system that favours the proposal. The balls have been set rolling to welcome the Dencun upgrade in early 2024. 

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Buterin Discus Crypto Ecosystem in Turkey

Meanwhile, this was Buterin’s first time in Turkey and he had the floor to discuss the cryptocurrency environment prevalent in the nation. Based on statistics, Buterin perceives Turkey as a major player in the crypto space. He cited the fact that most comments on his crypto-related posts on the X app are usually from his Turkish followers.

He is confident that the future of crypto in Turkey will advance in the near future and when this eventually happens, it would impact the world positively.

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