Ethereum

Based

Vision

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Vitalik Buterin suggests methods to increase Ethereum transaction speeds.</li>
 <li>Ethereum’s price continues to struggle amidst negative market sentiment.</li>
</ul>
<p>Vitalik Buterin, the founder of <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>, has put forward several suggestions aimed at increasing the speed of transaction confirmations on the blockchain network.</p>
<h2 id="buterin-s-proposals">Buterin’s Proposals</h2>
<p>Following the Merge, the confirmation time on the Ethereum network has decreased to between 5-20 seconds. However, Buterin believes that further improvements are necessary, as the current consensus mechanism can take up to 12.8 minutes for a ‘secure’ final confirmation.</p>
<p>To address this, Buterin has proposed several methods, including SSF (Single Slot Finality), Based, and rollup pre-confirmations. With SSF, transactions can be confirmed even when fewer validators are online. He explained that “Single-slot finality allows the chain to keep going and recover if more than 1/3 of validators go offline.”</p>
<h2 id="additional-suggestions">Additional Suggestions</h2>
<p>Buterin also recommended the use of Layer 2s (L2s) to speed up transaction confirmations. Under this system, rollups would use a few groups of validators to quickly confirm transactions, which are later finalized on the main chain, the Ethereum layer (L1).</p>
<p>The Based pre-confirmations approach, similar to Solana’s [SOL] priority fees, allows validators to charge an additional fee for quicker confirmation of high-priority transactions. Buterin suggested a similar system but with a penalty for validators or proposers who fail to honor agreements with users. He noted, “If the proposer violates any promise that they make to any user, they can get slashed.”</p>
<p>Despite acknowledging that these proposals are not perfect, Buterin believes they provide a solid foundation for further improvements to increase confirmation speeds.</p>
<h2 id="ethereum-s-price-struggles">Ethereum’s Price Struggles</h2>
<p>In the meantime, Ethereum’s price has not been ‘speeding’ up. The cryptocurrency has had difficulty surpassing the 50-day EMA (Exponential Moving Average), a key resistance point since late June. Both higher and lower timeframe market structures were bearish, and the RSI (Relative Strength Index) indicated that sellers had market leverage.</p>
<p>The price retracement has eased to a key support level at $3300. However, the delayed final approval and launch of the ETH ETF could further dampen market sentiment. If <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> continues to post losses below $60K, Ethereum could drop below the $3300 support level. In such a scenario, the next bearish target could be the 200-day EMA, which is nearly $3000. On the other hand, the $4000 level remains a key supply zone and bullish target if market sentiment swings in favor of Ethereum.</p>

Is Ethereum Gearing Up for a Speed Boost? Vitalik Buterin’s Latest Vision

Tabla de contenidos

CoinEagle.com

Otros artículos publicados el 4 jul 2024

Orbs Liquidity Hub Launches on Fenix Finance to Transform Blast Liquidity (4 Jul)

IRS unveils new crypto tax rules: Are they a good thing?

Arbitrum Maintains High Activity Levels

Ethereum ETFs Approvals Reach Final Stages, Expected in Weeks — Galaxy Digital

Bitcoin Fundamentals Remain Strong Despite Bearish Sentiment, Says Analyst

German MP Urges Government to Stop Selling Bitcoin

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!