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in a eth.limo/general/2024/10/23/futures4.html” target=”_blank” rel=”nofollow”>mail Posted on October 23, ethereum (eth) co-founder Vitalik Buterin shared details about 'The Verge' update, which aims to make it easier to run validator nodes.
New ethereum update to make it easier to run nodes
Buterin highlighted several issues currently facing the ethereum network, particularly the high resource requirements needed to run ethereum nodes.
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According investigation According to Paradigm, an ethereum client needs to store “hundreds of gigabytes of state data” to verify transaction blocks. Additionally, this data requirement increases by almost 30 GB each year, resulting in fewer entities being able to run validator nodes.
Through 'The Verge' update, running nodes can be more accessible and consume fewer resources by leveraging two key innovations: stateless clients and cryptographic SNARKs (Succinct Non-Interactive Arguments of Knowledge).
Uninitiated and stateless clients function as fully verified nodes without the intensive hardware requirements associated with typical ethereum blockchain clients.
Specifically, stateless clients only need a few gigabytes of storage, in contrast to the current requirement of more than 1 terabyte (TB), making running a full node considerably resource intensive.
Buterin posits that stateless verification will “make full chain verification so computationally affordable that every mobile wallet, browser wallet, and even smartwatch does it by default.”
By reducing storage needs, stateless clients can democratize participation in the network, lowering barriers to entry (especially for individual stakers) and allowing more entities to secure and validate transactions on the ethereum network.
Buterin encourages solo betting by reducing requirements
Buterin has emphasized the importance of making individual ethereum staking more accessible by lowering barriers to entry, such as the minimum amount of eth required to stake, and reducing bandwidth demands.
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Additionally, Buterin discussed the advantages of SNARKs in strengthening cryptographic verification and defending against the potential threat of quantum computing.
SNARKs are sophisticated cryptographic proofs that allow users to verify blockchain data without downloading all of their data. “Download some data, check a SNARK and you're done,” summarizes Buterin.
In the detailed blog post, Buterin also shed light on ethereum Improvement Proposal (EIP) 4762, which deals with changes to stateless gas costs in the context of stateless verification.
EIP-4762 seeks to adjust gas fees for resource-intensive crypto operations to maintain the scalability and security of the ethereum network. The proposal also introduces “multidimensional gas”, which charges different gas rates for call data, calculations and state access functions.
ethereum's native token eth has attracted increased institutional interest as adoption of the smart contract platform grows. A recent survey shows that almost 70% of institutional investors involved in eth stake.
Despite the overall bullish outlook for ethereum's future, this optimism has yet to materialize. translated in a significant price movement for eth. However, long-term eth holders remain sure on the long-term potential of the token. At the time of writing, eth is trading at $2,526, up 1.7% in the last 24 hours.
Featured image from Unsplash, chart from Tradingview.com
