Vitalik Buterin says that Ethereum nodes will soon be able to run on smartwatches. They’ll also become easier for single stakeholders thanks to “The Verge,” the next network upgrade.
The Verge wants to make Ethereum safer and more accessible by reducing hardware requirements.
Vitalik wrote in his blog that the new upgrade would allow even small devices like a smartwatch or smartphone to be Ethereum nodes.
Making nodes less resource intensive
Ethereum nodes is a computer that takes part in the Ethereum network, validating and verifying data, such as blockchain transactions, smart contracts, and sharing it.
They maintain an exact copy of the Ethereum Blockchain, which ensures the decentralization, transparency, and security of the network.
At present, running an Ethereum node involves hundreds of gigabytes worth of state data. This is resource intensive for most devices.
This is likely to change, however, with the advent of “stateless verifcation”, which will allow nodes to check blocks without having to store large quantities of data.
The stateless verification eliminates the need for all nodes to keep the whole blockchain and makes it affordable.
It could help to lower technical barriers that may be present for those who are interested in joining the network.
Buterin claims that this upgrade makes node operations more accessible and affordable, potentially allowing every mobile wallet, web wallet and smartwatch to automatically verify the blockchain.
Ethereum, the direct competitor of Celo, has launched lite nodes, which can be operated on devices with less power.
Verkle trees are a key component of the Verge. They reduce proof sizes and enable stateless verification.
Verkle trees are vulnerable to quantum computers, and this could be a future problem.
Ethereum’s co-founder has acknowledged that. He also added that if Verkle trees are used to replace the current KECCAK Merkle Patricia tree, then they may need to be changed again in due course because of quantum computing.
Ethereum’s developers have begun exploring the possibility of using binary hashing trees based on STARK, which are a secure, scalable solution.
It is thought that this solution will be a more long-term and effective way to combat quantum computing while still maintaining the integrity of Ethereum’s network.
Verge, among other things, wants to change Ethereum’s Gas System, as outlined by Ethereum Improvement Proposal 4762.
The changes are aimed at adjusting the gas fee for cryptographic operations that require a lot of resources to maintain network security and scalability.
Buterin calls this approach “multidimensional Gas” and claims that it will separate the gas costs of call data, computations, and state accessibility, which would help to manage Ethereum’s resource as the network adjusts to the new verification methods.
Ethereum centralisation: How to address it
Buterin has addressed this issue in an earlier blog. It is a concern that Ethereum faces.
Centralisation was identified as “one of the biggest risks” for the network, noting it could result in increased censorship or even network crisis.
Buterin suggested a solution to this problem by limiting how much Ether individuals could stake, and imposing a maximum penalty of 12.5% on the staked amount.
He also proposed a model of staking with two levels.
Buterin’s model divides staking in two categories, “risk bearing” (slashable), and “risk free” (unslashable). This would allow for a balance between the rewards and risks of staking as well as preventing the dominance of large companies on the network.
Buterin also suggested that Ethereum’s process for block proposals be changed, as he believes it has led to centralisation.
Block builders create blocks which are reviewed and selected by the proposers. This results in a few block builders controlling the entire process.
To address this, Buterin proposed “fork-choice-enforced inclusion lists,” which would shift transaction selection responsibilities back to the proposer, leaving block producers to focus on transaction ordering instead.
The post Ethereum’s ‘Verge’ upgrade could enable smartwatches to have nodes. This may change as new updates are released.
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